So, I guess Universities, training academies, Walmarts, anyone who tells people up front what is expected, and cuts the bad ones is what...........?? To lump BT and that bald headed prick from NY together just doesn't make any sense, no matter how you explain it. At least Bright gives you a chance. Whattya think Don, need a PR guy??
Bright gives all the little guys a chance.... and the industry needs that. i'm sure there have been many that have had success through bright that would never have gotten a shot anywhere else. if they didn't let people in that had the funds to do so... would you bitch at that??? it is a free country.... and it is an opportunity to trade in the business in an honest fashion.... as opposed to the criminals like cramer and the illegal naked shorters out there that think they have a privilege to fleece the public. and they know a complicit media will cover their tracks. hound you are barking up the wrong tree.
You started! OK, children, I am willing to bet good money, nothing will come out of this, so get over it!!
The SEC is investigating this so I would expect Cramer to soon be gone. The "sad" thing is, he is right...that is exactly how the market works and has always worked, from the Jessie Livermore days till today. My advice to the SEC is don't shoot the messenger......let him shoot himself!
The SEC is in tremendous turmoil. . On one hand, you have low level people who are investigators. They are dedicated enough to do their job, know that they aren't there to get rich, and just do as their told. And then there are the political hacks. They were the ones sitting to Mr. Aguirre's immediate right. A guy is talking to me. He says, "we see a pattern of all these investigations happening. And then they stop." Anybody want to take a shot at that? Rat? Remember, the GAO is there now. And Aguirre won't quit. There ain't no quit in that boy. See. I expect Cramer to be an asshole. It's in the welcome package when you go to New York. I expect Wall St. to do everything it can to wring every last nickel out of every swinging dick who signs the bottom line. But I EXPECT GOVERNMENT AND INDUSTRY REGULATORS TO DO THEIR JOB, AND TO NAIL THE BIG BOYS. That is the big disappointment. That is the real tragedy here. Later, we'll talk about newspaper "reporters". More needs to become public before we can discuss them, however.
I actually think that manipulating the market by using the market itself (e.g. trying to move the futures premarket) is legal, ethical, and good business strategy. Fomenting certainly is none of those. The only way to make a security go higher is to buy it. If Cramer was initiating large long positions in futures or options in order to give the impression of demand, then he was legitimately putting capital at risk and creating demand. It's our fault if as traders we follow momentum for momentums sake. There is no way to discern from price action alone if a large hedge fund is buying with the intention of fading the rally, or actually wants the rally to continue. Discerning the intentions of other people is why makng money from trading can be so difficult.
trust me.. i got my hands full with similar experiences right now. if you think goldman and jp morgan and co arent responsible for the govt corruption on the inside i got some enron stock certificates i will sell you for a bargain.