Street Authority calls for a breakout at $36.00 and the funds manipulste the trade next day.
Why do we have an SEC? What do they really do? Administer health care reform. Street Authority takes a stock that is double the price it should be with declining sales, out of favor brand, terrible management and stale inventory and says it will breakout at 36.00......And IT DOES JUST THAT. That is becasue the funds control the press....the control CNBC.....and in many cases where they own tens of millions of shares, they control the trade. This is a terrible company and a stock overvalued by 15 to 20 dollars a share. And they create this scanairo where it will continue to go up. Amazingle it happens. Crooked Wall Street, crooked funds, manipulating paid press, posters here blocking the board with bogus messages and an SEC that is asleep at the wheel under an inperalistic administration.
Its the end of the month. Fidelity owns a crapload of this and they issue monthly reports. They fund manager that bought 12 milion shares of this looser is pumping. He wants to make his bonus. This is why I don't own Fidelty funds. They are as corrupt as Janus and Franklin who were backdating trades and screwing their own customers a few years ago.
As for the SEC, they are know for downloading po#nography, not regulating the markets. They are not allowed to prosecute under Shapiro/Cohen administration.
This is a terrible company and a stock overvalued by 15 to 20 dollars a share. And they create this scanairo where it will continue to go up.
You need to ask yourself, what bearing do these factors have on the decision making process of the people who actually buy and sell the stock. Stock prices aren't affected by the news, they are affected by the way the investing public reacts to news. If you don't understand that, you are going to have a very difficult time in the markets.
As much as anything, the SEC is there to make sure that companies who list their stocks on public exchanges observe a certain requisite level of transparency in their dealing. The SEC doesn't and shouldn't address the issue of what people pay for stocks, there concern is with making sure the stock purchaser gets what they paid for. Since the dawn of time, big players in markets have been able to influence markets. The SEC can't change that, and it shouldn't change that. If you don't want to be a small fry in a market dominated by large investors, you need to make the decision to take your money elsewhere.