To whom it may concern. Over the past 24 hours there has been stock manipultion going on with Amarin and Arena . Yesterday it was reported by CNBC Jon Najarian that there was excessive options activity on AMRN as the spike in price was actually happening. He obviously new about it or was apart of ahead of time to figure all that out while on air. They also said that while the activity caused some panic buying, the stock price would have to close at $8.50 by EOD on Friday to make the Hedge Funds the most money. As of the writing of this e-mail, the PPS of AMRN at 3:50 EST is now down 8% to you got it...$8.50. This manipulation has got to be illegal and is killing the individual investor. No one wants to invest their hard earned money in a stock that does not trade on company fundamentals rather on backhanded deals between HF and MM to line their pockets with our money and our shares. I expect as a tax paying citizen that the SEC will do something about this! This happens on a daily basis and this is why the rich get richer and the middle class gets weaker. Please do the right thing and stop this crime!
Joe, please don't waist the Sec time and educate yourself! People were trading in front of a known event. Shorts may get scared and cover if nce was granted. I agree investors and middle class get screwed everyday but this is just fear and greed at work! That's how the market works! Front running pension orders, seeing investors positions and trading against them, ability to display and pull orders with no fear of being filled, purchasing order flow, etc... Those are more important issues the Sec needs to address. I take it you didn't sell your long. If nce is granted sell your position and look elsewhere imho. This reminds me of the snake oil salesmen in the wild west days.
Joe I agree with your view but the SEC is a corrupt as they come - they will be of no help in this case. We pay 100's of billions of tax dollars for millions of federal bureaucrats and obtain no useful services (except for the fighting personnel - but not the nonfighting management - of the military) from them. Instead, they are spending millions on themselves at conferences, "meetings", car and other perks. Anyway, we are now the USSA.
Thanks for your input. Amarin does not really concern us.... but now Apple closed at $500.00....and there are many more examples, seems to happen with every options expiration and we are clueless to do anything about it.
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