LOL yeah, cause the same NEVER happens in futures. Hilarious. Rumors act on fear. Fear & Greed are the key basics of market psychology. Don't blame the player, blame the game. Do you want guaranteed returns also? Maybe you should ask Big Brother to do that for you. I'm sure flytiger will help lobby.
You're a moron regardless, a very dense one. No matter how many times it has been explained to you, you just don't get it. When Steve Jobs speaks and hypes up his company to absurd levels, where are you? Oh wait, as long as it goes up, who cares if CEOs, execs and paid off analysts keep lying. LOL yeah like all the wonderful short sale regulations which are pushing away participants from US markets. Enjoy U.S.S.A.! P.S. http://en.wikipedia.org/wiki/Rumor Let's see if you can read and grasp the definition of the concept. I'm guessing when you were growing up a teenager, you were a social outcast hence never got first hand experience with it.
Report: SEC investigating false Steve Jobs heart attack rumor Jordan Golson10.03.2008 Categories The Securities and Exchange Commission will investigate a false report that claimed Steve Jobs had suffered a major heart attack, according to Bloomberg News. The report was posted on the CNN iReport "citizen journalism" website this morning, but was quickly removed. Apple's stock price dropped from a high of just over $106 this morning to just under $98 in a matter of minutes, before recovering most of those losses. The drop wiped more than $7 billion from Apple's market capitalization. The agency is trying to determine if the iReport story was intended to push down Apple's stock price, or was just a prank. The stock is back down trading around $98 this afternoon, but that's mostly a result of movement in the rest of the market, not because of the rumor.
How long did this take? No one wants to be a part of this anymore. AP CNN hands over info on author of Steve Jobs rumor Friday October 3, 8:20 pm ET By Jessica Mintz, AP Technology Writer After removing rumor of Apple CEO's heart attack, Web site cooperates with SEC to seek author SEATTLE (AP) -- A CNN-owned Web site called iReport.com, which publishes reports written by ordinary citizens, said Friday it will give the Securities and Exchange Commission information about the author of an item that claimed Apple CEO Steve Jobs had suffered a heart attack. The early morning report, which Apple Inc. spokesman Steve Dowling said was not true, sent shares plummeting to their lowest point in a year. The stock recovered around the time the post was removed from iReport.com, but ended the day off 3 percent at $97.07 amid a broader market slide. An SEC spokesman declined to comment. Jobs, who survived pancreatic cancer, has remained quiet on the topic of his health despite appearing extremely thin in recent public appearances. CNN spokeswoman Jennifer Martin said the SEC contacted iReport.com Friday afternoon, and that the site's staff is "doing its best to provide them with information about the posting." Martin said that "Johntw," the author of the Steve Jobs post, had never posted in iReport.com before. She did not know when the person joined the site. IReport.com's "citizen journalists" are not required to give their real name when registering, though they must submit a working e-mail address. CNN is a unit of Time Warner Inc. Copyright © 2008 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Send Feedback Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.
October 4, 2008, 9:17 am Steve Jobs rumor: What can the SEC do? Should investors take comfort in the news that the Securities and Exchange Commission is investigating âJohntw,â the as-yet unidentified rumor mongerer who briefly drove Apple (AAPL) down nearly 10% Friday before Apple PR finally broke its silence and let it be known that Steve Jobs had not, in fact, suffered a heart attack? (link) Not necessarily. As anybody who follows the company knows, rumors about Apple â negative and positive â are as common as crabgrass. This one, posted on CNNâs iReport site, was particularly egregious, as it hit Apple where it is most vulnerable. CNN and Fortune are both owned by Time Warner (TWX). CNN says it is cooperating with the investigation, giving the SEC what information it has about Johntw (most likely limited to an IP number and an e-mail address), and it is possible that the Feds will get their man. Or woman. But then what? Although SEC Chairman Christopher Cox supposedly declared war against false rumors in July when Fannie Mae and Fannie Mac were getting clobbered by short-sellers, he admitted to the Senate Banking Committee at the time that before he stepped up the plate, the SEC had never before in its 75-year history brought market manipulation charges against a trader who was knowingly spreading lies. Itâs true that in April Coxâs SEC made an example of a trader named Paul Berliner, charging him with securities fraud for spreading a made-up story (via instant messages to traders in brockerage firms and hedge funds) that the Blackstone Group was renegotiating the price it had agreed to pay to acquire Alliance Data Systems â all while Berliner was selling ADS short, according to the SEC. (See here.) âThe message of this case is simple and directâ Cox thundered in the accompanying press release. âThe Commission will vigorously investigate and prosecute those who manipulate markets with this witchâs brew of damaging rumors and short sales.â But what did Berliner pay for his alleged crimes? He agreed to settle the charges by âdisgorgingâ $26,129 in profits and interest, paying a penalty of $130,000 (the maximum), and consenting an order barring him from futher association with any broker or dealer. (link) Will $130,000 dissuade anyone who is making millions at this game? In his famous video interview with TheStreet.com â since removed from YouTube â CNBC personality and former hedge fund manager Jim Cramer told viewers how simple and profitable the game can be â especially with stocks like RIM (RIMM) and Apple. Take Apple before iPhone came out, he says on tape, âitâs very important to spread the rumor that both Verizon and AT&T decided they didnât like the phone⦠and this is very easy because the people who write about Apple want that story and you can claim that itâs credible because you spoke to someone at Apple because Apple doesnât issue any statements.â It may be illegal, he adds, but itâs easy to do âbecause the SEC doesnât understand it.â (link) The SEC now says it understands whatâs going on â although if they catch Johntw they still have to prove he (or she) was trying to profit from the false post. But itâs not at all clear â especially with everything else thatâs going on in the market â that Cox has the resources to catch the thousands of Internet day traders who try to work this con every day of the week. Or the teeth to make any punishments stick. JPMorgan Chase (JPM) CEO Chase Jamie Dimon, for one, wants the SEC to toughen its sanctions. âI think if someone knowingly starts a rumor or passes on a rumor, they should go to jail,â he recently told Charlie Rose. âThis is even worse than insider trading. This is deliberate and malicious destruction of value and peopleâs lives.â (link) http://apple20.blogs.fortune.cnn.com/2008/10/04/steve-jobs-rumor-what-can-the-sec-do/
Should they arrest Rev Shark? RealMoney - Columnist Conversation AAPL 10/3/2008 9:44 AM EDT By Rev Shark There is a rumor that Steve Jobs is in the hospital. These media guys should probably not repeat rumors and gossip. Or do their readers have a right to know, as long as they did not originate the false info? But what if Rev (or whomever) had shorted AAPL, before simply passing on the rumor? Would this make them culpable?
He probably could have been more detailed and said he was only explaining why the stock was down. BT had a great call to buy the selloff. They got a quick 5 points, and that was with typing it in. what they do in situations like this is demand records and files. If he took an inordinate position just before the slam, he'd be suspect. One of the things they look for is size. If you're avg stock size is ten grand, and you take a hund grand position in a suspect stock and you're correct, you'd better be able to prove you had a strategy other than a fake press release.