Bankrate (RATE) - Another SEC Investigation Needed
By:
TraderMark Wednesday, February 06, 2008 1:23 AM
I've brought up similar situations in the past and after you do this for years, you notice ridiculous things in the market more and more. Things that the SEC never gets around to enforcing.... let me show you
Bankrate (RATE) which held up all day today... until the last 30 minutes. You see a huge spike in volume, and the stock falls off a cliff. Then the company comes out after hours and
misses it's earnings.
I only noticed because I had this on my radar due to its incredible strength of late and potentially a way to play the refinance boom that is coming. So someone was tipped off, someone got out early and if the SEC was doing its job it would be tracking down who was clearing out at 3:30 (and even 2:30 PM which was another huge spike that dropped the stock momentarily).
And they say it is not a rigged game. A picture tells a thousand words.
Position: Cynical
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