SEC suspends trading CYNK technologies, possible manipulation

Zr1Trader said:
"You and I start a company.
It issues 300 million shares, 150 million to me and 150 million to you, for no consideration.
The company has no assets, does nothing, and is worth $0.
On Monday, I sell you 10,000 shares for $1 each. All of a sudden we have a $300 million company.
On Tuesday, you sell me back those 10,000 shares for $2 each. Now we have a $600 million company.
On Wednesday, we find some suckers and say "hey, this $600 million company is poised to take off! It was up 100 percent just yesterday! Get in while there's still value!"
The suckers, being suckers, buy 100,000 shares for $2 each.
Now we have $200,000 of the suckers' money, which we split.
We flee to, I don't know, Belize."

http://www.bloombergview.com/articl...e-case-for-buying-friends-naked-short-selling
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How is this diff than 1000 other co's that trade daily?
 
stock777 said:
How is this diff than 1000 other co's that trade daily?
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Easy .... this stock is possibly being manipulated. The other stocks have a plunge protection team behind them, not to mention QE, always up Tuesdays, an army of talking heads constantly asking if this is the time to buy, liquidity providers, corporations buying their own shares to fund their executive option grant programs etc.

Legal vs illegal .... it can't be more clear than that!

BTW, ETF symbols SOAR and SINK (100 times levered funds) were used already in this interesting story about irrational behavior: http://dripinvesting.org/boards/Read.asp?MID=115629&Thread=Yes

".... The extreme leverage employed will cause both funds to go bankrupt within the course of most trading days. However, those paying attention during the day will be able to manoeuvre in and out of the funds before they crash to zero....."
 
stock777 said:
As I suspected, diff only in a matter of degree .

Thanks for clearing it up.
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YW. That matter of degree would most likely be a legal degree IMO. For example - insider trading congress - legal, the rest of humanity - illegal. Does that clear it up for you? I don't know why it is so hard to grasp. “If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.” ― Warren Buffett


Here is a market maker explaining how to CYNK one's position (and one's position):

http://www.zerohedge.com/news/2014-07-15/cynk-short-squeeze-scam-costs-trader-his-job

Interesting quote:
".... OTC Markets Group Inc., which runs the trading venue once known as the pink sheets, marks questionable stocks on its website to warn investors..."

I honestly feel sorry for the fellow in the article.

Here is a trading rule for newbies.... If the pink sheet people say it's a scam, then run away .... like .... the .... wind. They certainly know what a Stock Chart Appearing Made-up (SCAM) would look like.
 
this stock should be worth fucking zero when it opens up.

wtf - can a company with one employee, which includes the asshole that created this pump and dump piece of shit stock, can be worth 6 billion in a matter of days?

where the fuck is the SEC in preventing this stock from listing on an exchange in the first place? - fuck and egg man, when will the fuck - will the SEC going to catch these pump and dump piece of shit stocks and fuckers that decide to create ponzi schemes - BEFORE the shit hits the fan and many investors get financially fucked in the ass?
 
this shitz been going on for years. what should happen is, as soon as these scams come to light, the sec should halt trading, the fbi should arrest all principles, and the dept of corrections should dust off the electric chairs.

short of that , the Stock777 Solution(c), the public will continue to be sodomized.

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