This type of scrutiny leads to why I have a daytrading pattern which I believe is pretty good even though i never backtested it (only traded it). Find low float stocks that are up huge on the day, short them in the last hour of the day (and in the last hour only, cover by the close). A lot of the time these manipulators will sell part of their shares (and tank the stock) to avoid having to file SEC forms and reveal that their are the entity behind the manipulation. Obviously Mint and Gentile dont seem to care (and having escaped prosecution probably has embolded Gentile) but most firms/manipulators do care which creates the last hour fade
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AWX Manipulation
- Thread starter LS1Z28
- Start date
I don't think any of the reporting requirements are predicated on owning the stock overnight? Certainly it doesn't appear the 13D beneficial ownership report has any limit on length of time which triggers the report, which would be the most common filing of this type. SEC surveillance can figure out who owned any stock at any given time, so lack of filing doesn't really protect a manipulator from being caught.This type of scrutiny leads to why I have a daytrading pattern which I believe is pretty good even though i never backtested it (only traded it). Find low float stocks that are up huge on the day, short them in the last hour of the day (and in the last hour only, cover by the close). A lot of the time these manipulators will sell part of their shares (and tank the stock) to avoid having to file SEC forms and reveal that their are the entity behind the manipulation. Obviously Mint and Gentile dont seem to care (and having escaped prosecution probably has embolded Gentile) but most firms/manipulators do care which creates the last hour fade
Of course the manipulators could not realize any of this, in which case the strategy makes sense. It might also be a good strategy simply because the manipulators are afraid to hold overnight just because they don't want people like you to realize what they're doing and "out-manipulate" them by crashing the stock with short sales. Either way, an interesting observation probably worth back testing, thanks for sharing it.
AWX sued Mint broker for running a pump and dump campaign on its stock, violating the short swing profit rule. Claims Gentile had a bunch of folks buying up the stock to avoid having to report the stake himself. AWX claims Gentile controlled as much as 60% of the float at one point
https://t.co/CvB4baYwVy
https://t.co/CvB4baYwVy