namtae, on another site, reported the last minute
Post# of 36537
Quote:
SEC should investigate what appears to be market manipulation
At 3:59:40, 100 shares @$2
I've kept a log of this activity on GNBT shares and waited until enough have occurred to prove undeniable illegality. This data, along with other information such as admissions of guilt posted have been sent to the SEC and FNRA for investigation
These are obvious and repetitive attempts to MARK THE CLOSE
"Marking the close" is a form of market manipulation. The practice involves attempting to influence the closing price of a security by executing purchase or sale orders at or near the close of normal trading hours
The SEC defines "marking the close," which is illegal, as "attempting to influence the closing price of a stock by executing purchase or sale orders at or near the close of the market.
I replied...
Quote:
That is a great point. Did you also report the large sale of shares that happen within minutes of the close to take out all bids from $2.09 down to $1.99 too? That is a serious offense in the opposite direction to try to paint the tape below $2.
They replied...
Quote:
Sorry but that is not the definition of painting the tape
My reply...
Quote:
Hmm, I'd say it is.
Quote:
The SEC defines "marking the close," which is illegal, as "attempting to influence the closing price of a stock by executing purchase or sale orders at or near the close of the market.
They replied...
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Yes, Marking the close, not painting the tape
They just want to twist everything anyway they want to look bad or illegal. Hopefully the late day selling clears up too.