Latest trading scam scheme using Twitter
- Thread starter syswizard
- Start date
So the SEC won't let me be or let me be me so let me see
they tried to shut me down on CNBC but it feels so empty without me
they tried to shut me down on CNBC but it feels so empty without me
Hilarious...he waited too long after posting the false info to only be able to profit $100 dollars.
Just think, so many people say twitter or stocktwits isn't useful.
You think he's the only one. No way. There's folks on twitter manipulating prices to go UP and DOWN for millions and they haven't been caught.
But it is okay when Cramer pumps his holdings on national television.
I think this isn't a good comparison considering the other guy posted falsified documents on twitter to look like the real thing from companies like Muddy Waters and Citron Research along with doing such via many different aliases.
That's fraud on many levels (federal) resulting in bigger fines and bigger prison term. Also, had he done such and "mailed" those documents to anyone in an effort to deceive...that would then become "mail and wire fraud" to go along with the securities fraud.
I don't think Cramer is doing such.
Regardless, I use twitter a lot and I see some stuff about stocks being said on there that makes me wonder about the motive especially when there's many different aliases piling it on the negative hype or the positive hype...
Makes me wonder what's really going on with the agenda behind such and I'm sure many are doing such but just have not gotten caught.
I wonder how this guy was caught. Surely, he must have hid his IP address and didn't think they could identify him through the internet. Looks like Twitter and his ISP coughed up his identity.
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Cramer's cumulative effect is much bigger than this guy's $100 money maker. I like how the SEC goes after the small stuff so vigorously but basically lets the banks have free reign or just lets them pay a small fine without "admitting guilt." It is such bullcrap. This guy is probably going to jail and almost nobody at a bank has gone to jail. Thanks SEC! I feel protected!
How do we draw the line between tweets & email communication; point being what's next & does this make any sense?
How about we let people tweet whatever the fuck they want in an unregulated anarchist mess? Oh wait, that's a free society, by definition.
Only way out of this terrible mess is 1) for Twitter to cease to exist (inevitable anyways), or 2) peeps tweet whatever they want 'til so many fingers get burnt by excessive dumb-ass-iveness that nobody takes a tweet too seriously (the way it should be)
/RANT OFF
How about we let people tweet whatever the fuck they want in an unregulated anarchist mess? Oh wait, that's a free society, by definition.
Only way out of this terrible mess is 1) for Twitter to cease to exist (inevitable anyways), or 2) peeps tweet whatever they want 'til so many fingers get burnt by excessive dumb-ass-iveness that nobody takes a tweet too seriously (the way it should be)
/RANT OFF
A better approach would for twitter to implement an algorithm to detect tweets related to stocks, futures, options, etcs. and to remove them or place them into a temporary holding state until someone reviews them.