本文发表在 rolia.net 枫下论坛THE DEADLY ART OF STOCK MANIPULATION....

In every profession, there are probably a dozen or two major rules.
Knowing them cold is what separates the professional from the amateur.
Not knowing them at all? You will probably lose. What the
professionals and the securities regulators know and understand, which
the rest of us do not, is this.

"RULE NUMBER ONE: ALL SHARP PRICE MOVEMENTS -- WHETHER UP OR DOWN
--ARE THE RESULT OF ONE OR MORE (USUALLY A GROUP OF) PROFESSIONALS
MANIPULATING THE SHARE PRICE."

In order to make these market manipulations work, the professionals
assume:
(a) The Public is STUPID and
(b) The Public will mainly buy at the HIGH and
(c) The Public will sell at the LOW.

Therefore, as long as the market manipulator can run crowd control, he
can be successful.

Let's face it: The reason you speculate in such markets is that you
are greedy AND optimistic. You believe in a better tomorrow and NEED
to make money quickly. It is this sentiment which is exploited by the
market manipulator. He controls YOUR greed and fear about a particular
stock. If he wants you to buy, the company's prospects look like the
next Microsoft. If the manipulator wants you to desert the sinking
ship, he suddenly becomes very guarded in his remarks about the
company, isn't around to glowingly answer questions about the company
and/or GETS issued very bad news about the company. Which brings us to
the next important rule.

"RULE NUMBER TWO: IF THE MARKET MANIPULATOR WANTS TO DISTRIBUTE (DUMP)
HIS SHARES, HE WILL START A GOOD NEWS PROMOTIONAL CAMPAIGN."

Ever wonder why a particular company is made to look like the greatest
thing since sliced bread? That sentiment is manufactured. Newsletter
writers are hired -- either secretly or not -- to cheerlead a stock.
PR firms are hired and let loose upon an unsuspecting public.
Contracts to appear on radio talk shows are signed and implemented.
Stockbrokers get "cheap" stock to recommend the company to their
"book" (that means YOU, the client in his book). An advertising
campaign is rolled out (television ads, newspaper ads, card deck
mailings). The company signs up to exhibit at "investment conferences"
and "gold shows" mainly so they can get a little "podium time" to hype
you on their stock and tell you how "their company is really
different" and "not a stock promotion.") Funny little "hype" messages
are posted on Internet newsgroups by the same cast of usual suspects.
The more, the merrier. And a little "juice" can go a long way toward
running up the stock price.

The HYPE is on. The more clever a stock promoter, the better his
knowledge of the advertising business. Little gimmicks like
"positioning" are used. Example: Make a completely unknown company
look warm and fuzzy and appealing to you by comparing it to a recent
success story. The only reason you have been invited to this seemingly
incredible banquet is that YOU are the main course. After the market
manipulator has suckered you into "his investment," exchanging HIS
paper for YOUR cash, the walls begin to close in on you. Why is that?

"RULE NUMBER THREE: AS SOON AS THE MARKET MANIPULATOR HAS COMPLETED
HIS DISTRIBUTION (DUMPING) OF SHARES, HE WILL START A BAD NEWS OR NO
NEWS CAMPAIGN."

Your favorite home-run stock has just stalled or retreated a bit from
its high. Suddenly, there is a news VACUUM. Either NO news or BAD
rumors. I discovered this with quite a few stocks. I would get LOADS
of information and "hot tips." All of a sudden, my pipeline was
shut-off. Some companies would even issue a news release CONDEMNING me
("We don't need 'that kind of hype' referring to me!). Cute, huh? When
the company wanted fantastic hype circulated hither and yon, there
would be someone there to spoon-feed me. The second the distribution
phase was DONE....ooops! Sorry, no more news. Or, "I'm sorry. He's not
in the office." Or, "He won't be back until Monday."

The really slick market manipulators would even seed the Internet news
groups or other journalists to plant negative stories about that
company. Or start a propaganda campaign of negative rumors on all
available communication vehicles. Even hiring a "contrarian" or
"special PR firm" to drive down the price. Even hiring someone to
attack the guy who had earlier written glowingly about the company.
(This is not a game for the faint-hearted!)

You'll also see the stock drifting endlessly. You may even experience
a helpless feeling, as if you were floating in outer space without a
lifeline. That is exactly HOW the market manipulator wants you to
feel. See Rule Number Five below. He may also be doing this to avoid
the severe disappointment of a "dry hole" or a "failed deal."

You'll hear that oft-cried refrain, Or the oft-quoted statistic, "Nine
out of 10 businesses fail each year and this IS a Venture Capital
Startup stock exchange." Don't think it wasn't contrived. Ditto for
the high-tech deal, in a world awash with PhD's.

So, how do you know when you are being taken? Look again at Rule #1.
Inside that rule, a few other rules unfold which explain how a stock
price is manipulated.

"RULE NUMBER FOUR: ANY STOCK THAT TRADES HUGE VOLUME AT HIGHER PRICES
SIGNALS THE DISTRIBUTION PHASE."

When there was less volume, the price was lower. Professionals were
accumulating. After the price runs, the volume increases. The
professionals bought low and sold high. The amateurs bought high (and
will soon enough sell low). In older books about market manipulation
and stock promotion, which I've recently studied, the markup price
referred to THREE times higher than the floor. The floor is the
launchpad for the stock. For example, if one looks at the stock price
and finds a steady flatline on the stock's chart of around 10 cents,
then that range is the FLOOR. Basically, the markup phase can go as
high as the market manipulator is capable of taking it.

From my observations, a good markup should be able to run about five
to ten times higher than the floor, with six to seven being common.
The market manipulator will do everything in his power to keep you OUT
OF THE STOCK until the share price has been marked up by at least
two-three times, sometimes resorting to "shaking you out" until after
he has accumulated enough shares. Once the markup has begun, the stock
chart will show you one or more in the volume -- all at much higher
prices (marked up by the manipulator, of course). That is DISTRIBUTION
and nothing else.

WHENEVER you see HUGE volume after the stock has risen on a 75 degree
angle, the distribution phase has started and you are likely to be
buying in - at or near the stock's peak price.

Successful short-term speculators generally exit any stock run up when
the volume soars; amateurs get greedy and buy at those points.

"RULE NUMBER FIVE: THE MARKET MANIPULATOR WILL ALWAYS TRY TO GET YOU
TO BUY AT THE HIGHEST,AND SELL AT THE LOWEST PRICE POSSIBLE."

Just as the manipulator will use every available means to invite you
to "the party," he will savagely and brutally drive you away from "his
stock" when he has fleeced you. The first falsehood you assume is that
the stock promoter WANTS you to make a bundle by investing in his
company. So begins a string of lies that run for as long as your
stomach can take it.

You will get the first clue that "you have been had" when the stock
stalls at the higher level. Somehow, it ran out of steam and you are
not sure why. Well, it ran out of steam because the market manipulator
stopped running it up. It's over inflated and he can't convince more
people to buy. The volume dries up while the share price seems to
stall. LOOK AT THE TRADING VOLUME, NOT THE SHARE PRICE!

When earlier, there may have been 500,000 shares trading each day for
eight out of 12 trading days (as in the case of Software Control
Systems), now the volume has slipped to 100,000 shares (or so) daily.
There are some buyers there, enough for the manipulator to continue
dumping his paper, but only so long as he can enlist one or more
individuals/services to bang his drum.

He may continue feeding the promo guys a string of "promises" and
"good news down the road." (Believe me, this HAS happened to me!) But,
when the news finally arrives, the stock price goes THUD! This is
entirely orchestrated

"RULE NUMBER SIX: IF THIS IS A REAL DEAL, THEN YOU ARE LIKELY TO BE
THE LAST PERSON TO BE NOTIFIED OR WILL BE DRIVEN OUT AT THE LOWER
PRICES."

Like Jesse Livermore wrote, "If there's some easy money lying around,
no one is going to force it into your pocket." The same concept can be
more clearly understood by watching the tape. When a market
manipulator wants you into his stock, you will hear LOUD noises of
stock promotion and hype. If you are "in the loop," you will be
bombarded from many directions. Similarly, if he wants you out of the
stock, then there will be orchestrated rumors being circulated,
rapid-fired at you again from many directions. Just as good news may
come to you in waves, so will bad news.

You will see evidence of a VERY sharp drop in the share price with
HUGE volume. That is you and your buddies running for the exits. If
the deal is really for real, the market manipulator wants to get ALL
OF YOUR SHARES or as many as he can... and at the lowest price he can.
Whereas before, he wanted you IN his market, so he could dump his
shares to you at a higher price, NOW when he sees that this deal IS
for real, he wants to pay as little as possible for those same
shares... YOUR shares which he wants to you part with, as quickly as
possible.

The market manipulator will shake you out by DRIVING the price as low
as he can. Just as in the "accumulation" stage, he wants to keep
everything as quiet as possible so he can snap up as many of the
shares for himself, he will NOW turn down, or even turn off, the
volume so he can repeat the accumulation phase.

The accumulation phase was TOP SECRET. The noise level was deadingly
silent. As soon as the insiders accumulated all their shares, they let
YOU in on the secret.

"RULE NUMBER SEVEN: CONVERSELY, YOU WILL OFTEN BE THE LAST TO KNOW
WHEN THIS DEAL SHOWS SIGNS OF FAILURE."

Twenty-twenty hindsight will often show you that there was a "little
stumble" in the share price, just as the "assays were delayed" or the
"deal didn't go through." Manipulators were peeling off their paper to
START the downslide. And ACCELERATE it. The quick slide down makes it
improbable for your getting out at more than what you originally paid
for the stock... and gives you a better reason for holding onto it "a
little longer" in case the price rebounds. Then, the drifting stage
begins and fear takes over. And unless you have nerves of steel and
can afford to wait out the manipulator, you will more than likely end
up selling out at a cheap price.

For the insider, marketmaker or underwriter is obliged to buy back all
of your paper in order to keep his company alive and maintain control
of it.

The less he has to pay for your paper, the lower his cost will be to
commence his stock promotion again... at some future date. Even if his
company has no prospects AT ALL, his "shell" of a company has some
value (only in that others might want to use that structure so they
can run their own stock promotion). So, the manipulator WILL buy back
his paper. He just wants to make sure that he pays as little for those
shares as possible.

"RULE NUMBER EIGHT: THE MARKET MANIPULATOR WILL COMPEL YOU INTO THE
STOCK SO THAT YOU DRIVE UP ITS PRICE SHARES."

Placing a Market Order or Pre-Market Order is an amateur's mistake,
typifying the US investor -- one who assumes that thinly traded issues
are the same as blue chip stocks, to which they are accustomed. A
market manipulator (traders included here) can jack up the share price
during your market order and bring you back a confirmation at some
preposterous level. The Market Manipulator will use the "tape" against
you. He will keep buying up his own paper to keep you reaching for a
higher price. He will get in line ahead of you to buy all the shares
at the current price and force you to pay MORE for those shares. He
will tease you and MAKE you reach for the higher price so you "won't
miss out." Miss out on what? Getting your head chopped off, that's
what!

One can avoid market manipulation by not buying during the huge price
and abnormal trading volumes, also known as chasing the stock to a
higher price.

"RULE NUMBER NINE: THE MARKET MANIPULATOR IS WELL AWARE OF THE
EMOTIONS YOU ARE EXPERIENCING DURING A RUN UP AND A COLLAPSE AND WILL
PLAY YOUR EMOTIONS LIKE A PIANO."

During the run up, you WILL have a rush of greed which compels you to
run into the stock. During the collapse, you WILL have a fear that you
will lose everything... so you will rush to exit.

See how simple it is and how clear a bell it strikes? Don't think this
formula isn't tattooed inside the mind of every manipulator. The
market manipulator will play you on the way up and play you on the way
down. If he does it very well, he will make it look like someone
else's fault that you lost money! Promise to fill up your wallet?
You'll rush into the stock. Scare you into losing every penny you have
in that stock? You'll run away screaming with horror! And vow to
NEVER, ever speculate in such stocks again. But many of you still
do.... The manipulator even knows how to bring you back for yet
another play.

"FINAL RULE: A NEW BATCH OF SUCKERS ARE BORN WITH EVERY NEW PLAY."

The Financial Markets are a Cruel, Unkind and Dangerous Playing Field,
one place where the newest amateurs are generally fleeced the most
brutally.... usually by those who KNOW the above rules.

Just as I have a duty to ensure that each of you nderstand how this
game is played, YOU now have that same duty to guarantee that your
fellow speculator understands these rules. Just as I would be a
criminal for not making this data known to you, YOU would be just as
criminal to keep it a secret. There will always be an unsuspecting,
trusting fool whom the rabid dogs will tear to shreds, but it does NOT
have to be this way.

If every subscriber made this essay broadly known to his friends,
acquaintances and family, and they passed it on to their friends, word
of mouth could cause many of these market manipulators to pause. IF
this effort were done strenuously by many, then perhaps the financial
markets could weed out the crooked manipulators and the promoters
could bring us more legitimate plays.

The stock markets are a financing tool. The companies BORROW money
from you, when you invest or speculate in their companies. They want
their share price going higher so they can finance their deal with
less dilution of their shares... if they are good guys. But, how would
you feel about a friend or family member who kept borrowing money from
you and never repaid it? That would be theft, plain and simple. So, a
market manipulator is STEALING your money.更多精彩文章及讨论，请光临枫下论坛 rolia.net