Can you hit your own bid from your other account?

Quote from zdreg:

the reason they don't alow penny stocks is belately they have disocvered that many of its members are novice traders. and probably require protection.

what is the name of this business writer.we could all probably learn from him,
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David Baines of the Vancouver Sun, below is his bio:

"David Baines has been uncovering white collar crime for the past 20 years. He has an MBA from the University of Western Ontario and has won three National Newspaper Awards. His column appears Wednesdays and Saturdays."
 
You can.

But make sure prior to your court date you are familiar with the terms "change in beneficial ownership".

Cause you will here it alot..
 
Quote from giggollo:

So its illegal based on a SEC rule, NASD rule? and what does the rule stipulate exactly?

We seem to have come up with a few creative uses for this already, which i wasnt even thinking of, esp that last one!! I'll compile them here just for fun:

1. Transfer your profits to 100% payout account

2. Fake more volume on a low volume stock

3. Create an uptick so you can short

4. Transfer a position from one account to another without paying the spread

Keep em coming..
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5) Tax purposes. Use your imagination...
 
I remember when after hours trading first started guys in my office would trade with themselves in order for the prints to be televised on the CNBC ticker. Trade 100 share lots back and forth and it made it look like something was happening in the stock. When all you see on CNBC is stock XYZZ trading on the ticker it would excite someone into jumping on the bandwagon. Create some interest then dump the shares they didn't want to be stuck overnight in.

Also knew guys who when they ran out of BP would have someone else put a trade on for them, settle it after the market closed by hitting each others' bids.

I'm a 24 (now, not then) and this is very illegal.
 
Let me get this straight. It seems like one can take a low volume stock and trade back and forth with themselves or with 1 other party to move it higher. For example, you own 10,000 shares of a low volume stock that you bought at $10 per share. There are no bids and offers on the stock (low volume Nasdaq stock). So you buy 100 shares at 10, offer it at 10.50, buy it from your self at 10.50, offer it at 11.00, buy it from your self at 11.00, offer it at 11.50, buy it from your self at 11.50, and offer it at 12.00 along with your other 10,000 shares and hope that the 20% rise gets many traders and investors rushing to buy.

Is this illegal?
 
Quote from NasdaqTrader:

Let me get this straight. It seems like one can take a low volume stock and trade back and forth with themselves or with 1 other party to move it higher. For example, you own 10,000 shares of a low volume stock that you bought at $10 per share. There are no bids and offers on the stock (low volume Nasdaq stock). So you buy 100 shares at 10, offer it at 10.50, buy it from your self at 10.50, offer it at 11.00, buy it from your self at 11.00, offer it at 11.50, buy it from your self at 11.50, and offer it at 12.00 along with your other 10,000 shares and hope that the 20% rise gets many traders and investors rushing to buy.

Is this illegal?
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highly illegal and it really won't work anymore. you will just end up buying someone's hidden offer a buck or two higher.
 
Quote from giggollo:

Eusdaiki: Thanks for naming it.
Rearden: Could you elaborate?
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Say you move a gain from an ordinary account to an IRA account. You've just deferred the taxes owed by <b>decades</b>.

Or let's say you have an offshore account the gov't doesn't know about. You move your gain from your domestic account to the hidden one.

All of this would be illegal, of course.
 
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