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Arena Pharmaceuticals, Inc. Message Board

  • nimachr nimachr Dec 31, 2012 10:07 AM Flag

    Ehrlich - CEO of cellceutix email on stock manipulation please read

    Dear Fellow Shareholders’ of Cellceutix,

    It appears that this past Thursday and Friday ( December 27 and 28), there was a “short attack” against the Company. Now, to short a company’s stock is not illegal. However MARKET MANIPULATION IS HIGHLY ILLEGAL.
    Shares of CTIX closed Wednesday at $2.42. It has been noted by many shareholders that in pre-market activity on Thursday morning there appeared several trades of CTIX at $0.80 and even lower, each of which were canceled shortly before the open. Simply, we believe that is called “PAINTING THE TAPE”, a type of illegal market manipulation and something that our Company will unequivocally not ignore.
    The opinion of Cellceutix is that these actions were a coordinated effort amongst a group that planned to drive down the price of Cellceutix stock for their own benefit by creating illusions that stockholders are panicking or that Cellceutix’s accomplishments are without merit. For example, several articles and “bashers” surfaced writing negative commentary on Cellceutix that were published on different, popular financial websites.
    Then as they short the stock, which causes the share price to decline, the small investor thinks other investors are selling and they join this perceived stampede. It is a smoke screen they have created. If you look at Friday’s sales in the approximate $1.55 range, you see the number of small trades by the small shareholder panicking. Exactly what they want to create.
    Now that we know the situation that we are dealing with, what can one do?
    The answer is an examination of the premarket trades of Thursday, December 27, 2012 by the regulatory authorities. If audits of those transactions provide evidence that they were illegal, the government has the tools at its discretion to trace all cell phone records, emails, financial transactions, etc. made by these individuals acting for themselves or others. In this day and age nothing is hidden. If this leads to evidence that market makers, writers, bashers and others have conspired in this illegal act, they should be held accountable and suffer the consequences.

    Even if market makers and writers were acting on behalf of clients overseas, they will be held accountable. Claiming they didn’t know is not an excuse. We saw what happened with the Madoff scandal and how feeder funds were held responsible. During the past two days, the CTIX price per share declined by $0.69. The market capitalization of the company declined over $60 million. If someone were to rob a bank of $60 million, you can be certain the authorities would be on top of it.
    Again, shorting is legal, but MARKET MANIPULATION is illegal.
    The parties that we believe are behind this seem to be a very sophisticated group. Therefore, to help the authorities you must expose the weakest link in their strategy: the pre-market manipulation of Thursday morning that they tried later to cover up and hide. This is also a warning to their associates that they may be aiding a group that has engaged in market manipulation and this activity may have repercussions to them as well.
    I have spoken to the Financial Industry Regulatory Authority (FINRA) and have made a complaint as to the pre-market activity of Thursday morning. I am only one person. If the hundreds, or even thousands, of CTIX shareholders and supporters also file a complaint about the need to investigate the Thursday morning pre-market activity I believe this will be taken very seriously by the authorities, and cause many sleepless nights for those who are involved in this ILLEGAL MARKET MANIPULATION.
    Interested parties are encouraged to call or email the office of the whistleblower at FINRA about the “THURSDAY MORNING PRE-MARKET ACTIVITY” and any other irregularity that has been observed. You should also inform them of any articles you notice bashing the company or new bashers that appear on message boards as these may be tied in to the individuals who were responsible for the market manipulation.

    Office of the Whistleblower
    Dedicated Team to Handle High-Risk Tips
    FINRA's Office of the Whistleblower expedites the review of high-risk tips by FINRA senior staff and ensures a rapid response for tips believed to have merit.
    Through the Office of the Whistleblower, individuals with evidence of, or material information about, potentially illegal or unethical activity can reach senior staff, who can quickly #$%$ the level of risk involved and make sure that each tip is properly evaluated. Those tips warranting additional review and investigation will be subject to an expedited regulatory response.
    FINRA will refer any whistleblower tips that fall outside its jurisdictional reach to the appropriate regulatory or law enforcement agencies.
    FINRA's whistleblower initiative does not replace longstanding processes for handling thousands of routine regulatory tips and customer complaints each year.
    Submit a Tip
    whistleblower@finra.org
    1-866-96-FINRA (1-866-963-4672)
    Thank you for your continued support,
    Leo Ehrlich
    Chief Executive Officer, Cellceutix Corporation

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    • good news

      Sentiment: Strong Buy

    • bump it..........................

      Sentiment: Strong Buy

    • FINRA's whistleblower initiative does not replace longstanding processes for handling thousands of routine regulatory tips and customer complaints each year.
      Submit a Tip
      whistleblower@finra.org
      1-866-96-FINRA (1-866-963-4672)

    • love this one being bumped

      Sentiment: Strong Buy

    • skiman2u@rocketmail.com skiman2u Jan 2, 2013 10:06 PM Flag

      ....... ......

      Sentiment: Strong Buy

    • keep this on top please

      Sentiment: Strong Buy

    • Just spoke with FINRA and they were SUPER helpful and really interested in looking at ARNA in terms of manipulation. I have written the SEC a couple times over the past months but didn't hear a thing. FINRA on the other hand, at the number listed above, had a person answer the phone immediately and he took copious notes regarding the stock. I highly recommend calling and speaking with them

      Sentiment: Buy

    • Thanks for sharing this...The information is invaluable and all shareholders everywhere should use this to stop manipulation.....

      fwiw

    • In 2012, Many Felt the Market Was Rigged
      By Michael Santoli | Yahoo! Finance – Mon, Dec 24, 2012 1:37 PM EST

      In 2012, investors’ long-harbored suspicion that the stock market was a rigged game became something of a majority opinion.

      This year, exasperation over the predominantly electronic mechanics of trading stocks, in which hyper-fast computer algorithms maneuver against one another for fractions of pennies collected over microseconds, boiled over. The level of disgust has gotten broad enough, in fact, that authorities might be prepared to rethink some of the basic rules and processes driving the system.

      The opaque and complex structure for trading stocks electronically across dozens of exchanges and alternative networks has long been justified by industry leaders and regulators as the messy but logical result of investor-friendly reforms. Technology has enabled mind-melting speed, unfathomable communications capacity and brutal competition for order flow – all of which have made trading cheaper and faster than ever.

      Yet by squeezing out traditional market makers who once collected low-risk, protected profits by mediating among buyers and sellers, rules and technology have tilted the power toward “high-frequency traders.” And in 2012, the fragility produced by so much layered complexity became too obvious, and produced too many market-jarring failures, to be considered merely the price of progress.

      A List of Failures

      In March of 2012, BATS Trading, an upstart exchange that sees a large percentage of its volume from HFT firms, botched its own initial public offering. First unable to process the initial trades, BATS ultimately canceled the IPO.

      In May, the Facebook (FB) initial public offering was mishandled by Nasdaq, whose systems couldn’t keep up with the flood of electric orders. Many small investors just mustering the will to wade back into the market to own a piece of FB were turned off by the fiasco.

      Only months later, Knight Capital Group (KCG), a premier electronic stockbroker and market maker, nearly went under when a trading-software upgrade went rogue and spewed orders without human intention or limit. Knight is now being acquired by HFT powerhouse Getco.

      A process that began in 2000, when regulators and exchanges moved to quote stocks in pennies -- making it easier for automated scalpers to “improve” a quote by one cent to legally front-run real orders while reducing the amount of stock behind each bid or offer -- has now agglomerated to a point that almost no one is satisfied. A recent publication of the staid New York Society of Security Analysts declared that “public confidence in the integrity of equity trading markets appears to be at a once-in-a-generation low.” This is a trend measured in the nearly $300 billion retail investors have yanked from traditional equity mutual funds since 2009.

      Do Robots Really Run the Market?

      But do the hyper-fast, disembodied trading robots really run the market for their own profit?

      There is some irony in the fact that the public is so embittered about what they believe to be a market rigged against them, when, for most, stock trading has never been easier or less costly. For a flat $8 commission, a stay-at-home investor can instantly execute a trade in almost any stock with little noticeable friction. If, at times, an opportunistic algorithm steps ahead of that order by, say, bidding a penny more and driving the price up a couple of cents, that charge is vastly less than the 25-cent spread Nasdaq market makers used to take on almost every trade. If anything, the small investor is better served by the current trading arrangements than are large institutional investors, whose need to execute large, sensitive orders is compromised by the software spies’ efforts to step in front of their trading flows.

      Indeed, even the dominance of high-frequency trading, once said to participate in a sizable majority of stock orders, has passed its peak, thanks to competition and lower market volatility reducing their opportunities.

      Still, somehow the opacity and bloodlessness of the automated quasi market-makers rankles more, especially when investors are less confident of unending stock market appreciation than they were in the late 1990s and early 2000s.

      Perception Becomes Reality

      The measure of disaffection with today’s market structure by both professionals and individuals means that, even if the financial impact to the typical trader isn’t onerous, the sour perception in itself diminishes market quality and vitality.

      And sentiment isn’t helped by the ongoing round-up of alleged insider-trading conspirators among employees of major investment firms, which has made headlines that prove the authorities are paying attention while also hinting to the little guy that investing profits are often ill-gotten.

      The good news in all the frustration with our tangled trading system is a renewed focus on rationalizing it. At a Senate Banking Committee hearing on electronic trading in late December, a rough consensus among exchange officials showed a desire for Congress to lay out clearer order-handling rules. The recently announced merger of electronic derivatives exchange ICE with NYSE Euronext could provide further impetus for a fresh look at the trading landscape.

      Several years ago, Jim Maguire -- a NYSE floor veteran and longtime specialist for Warren Buffett’s Berkshire Hathaway Inc. (BRKA, BRKB) shares -- began promoting a small but potentially helpful reform: quoting stocks in minimum increments of nickels rather than pennies. The idea was to create greater incentive for middlemen to provide a deep and fair market for public orders. Dubbed “Mr. Nickel” by Barron’s, Maguire was viewed as a charming little anachronism. Yet on Feb. 5, the SEC is holding a panel discussion to discuss “the impact of tick sizes on securities markets.” There is also now a more open discussion over charging high-speed traders for the massive system capacity they use.

      The now deeply ingrained sense that stock trading is a game rigged by privileged sharpies with their omnipotent machines will not dissipate soon or easily. But as we enter 2013, it appears at last that those able to take action to foster greater faith in the integrity of the markets are at least focused on the issue.

      Sentiment: Strong Buy

    • Keep in mind CTIX is a very thinly traded stock. ARNA trades 10 the shares. Not saying it cant be done, but not as easy as CTIX

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