Any form of market manipulation is ILLEGAL.
Even the "intent" to manipulate prices is ILLEGAL.
The fact that you "didn't know" something was ILLEGAL... cannot be used as a legal defense.
Can you hit your own bid from your other account?
- Thread starter giggollo
- Start date
Any form of market manipulation is ILLEGAL.
Even the "intent" to manipulate prices is ILLEGAL.
The fact that you "didn't know" something was ILLEGAL... cannot be used as a legal defense.
NYSE Specialists do this all the time.
You've just made a very broad and false charge...
By misunderstanding several terms in one sentence.
This a good definition...
From the a State of New Jersey Commission dealing with energy prices:
WHAT IS MARKET MANIPULATION?
2.7 Market manipulation involves transactions or orders to trade which
⢠give, or are likely to give, false or misleading signals as to the supply, demand or price of financial instruments;
⢠alter, by one or more persons acting in collaboration, the price of one or several financial instruments to an abnormal or artificial level; or
⢠employ fictitious devices or any other form of deception or contrivance.
2.8 Market manipulation includes the dissemination of information through the media, including the Internet, or by any other means, which give, or are likely to give, false or misleading signals as to the supply, demand or price of financial instruments, including the dissemination of rumours and false or misleading news
It is the nature of price fluctuations to give, and it is the nature of the human mind to perceive from them, "false or misleading signals", so this is not a workable basis for defining market manipulation.
All price levels are "abnormal or artificial", because all price levels are artificial, since markets themselves are artificial, so this is also not a workable basis for defining market manipulation.
I agree that unlawful market manipulation should be defined and limited by law, but I think that trying to define it is a difficult task, fraught with potential traps.
"I agree that unlawful market manipulation should be defined and limited by law, but I think that trying to define it is a difficult task, fraught with potential traps." from rockford
"In 1964, Justice Potter Stewart tried to explain "hard-core" pornography, or what is obscene, by saying, "I shall not today attempt further to define the kinds of material I understand to be embraced . . . ut I know it when I see it"
conclusion: manipulation = obscenity
"In 1964, Justice Potter Stewart tried to explain "hard-core" pornography, or what is obscene, by saying, "I shall not today attempt further to define the kinds of material I understand to be embraced . . . ut I know it when I see it"
conclusion: manipulation = obscenity
Quote from zdreg:
"In 1964, Justice Potter Stewart tried to explain "hard-core" pornography, or what is obscene, by saying, "I shall not today attempt further to define the kinds of material I understand to be embraced . . . ut I know it when I see it"
conclusion: manipulation = obscenity
lolz its hard to define pornography. For example a jessica alba or angelina jolie sex tape can DEFINITELY be classed as art
I just came up with another reason to do this.
You've traded all year in an individual account, and made a decent amount of money. It's late in the year, and you just opened up a coporate account for the purpose of contributing to a retirement plan. But you're running out of time to put anything significant aside.
You still have your individual account with broker A in your name, and a corporate account with broker B, in the corporation's name. You generate losses in the individual account while providing gains in the corporate account.
I happen to be in this situation, and I have to admit it's tempting...but I don't think I could do it.
What are the likely penalties, anyway? Could they put you in prison? Never let you trade again? (No, I'm not going to do it!)
You've traded all year in an individual account, and made a decent amount of money. It's late in the year, and you just opened up a coporate account for the purpose of contributing to a retirement plan. But you're running out of time to put anything significant aside.
You still have your individual account with broker A in your name, and a corporate account with broker B, in the corporation's name. You generate losses in the individual account while providing gains in the corporate account.
I happen to be in this situation, and I have to admit it's tempting...but I don't think I could do it.
What are the likely penalties, anyway? Could they put you in prison? Never let you trade again? (No, I'm not going to do it!)