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#391

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Posted 30 October 2003 - 04:25 PM

US attorney announces investigation into fraudulent trading at Putnam

sorry, being European means I do not know how big this is? Is this a major event, or one that will be disregarded in the blink of an eye?
Cheers.

#392 Farmer

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Posted 30 October 2003 - 04:25 PM

Why beardrechID,

And I thought you didn't give a flock and now this.Ohhhhh

Same to you. :D :D

#393 5thelement

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Posted 30 October 2003 - 04:30 PM

Closed out Panera short, rode it for 1.5 pts down. Thanks short sellers for the gift!!!

Can the $sox stay above 500, it's fighting hard :o :lol:

#394 ArdentGuy

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Posted 30 October 2003 - 04:31 PM

Has anyone else noticed that the $SPX quote has only been updating once every 10 minutes for the last half hour? Same thing on Crapvision.

#395 OldMan

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Posted 30 October 2003 - 04:32 PM

sorry, being European means I do not know how big this is? Is this a major event, or one that will be disregarded in the blink of an eye?
Cheers.

Putnam Investments

OldMan

#396 longOnUranus

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Posted 30 October 2003 - 04:33 PM

Has anyone else noticed that the $SPX quote has only been updating once every 10 minutes for the last half hour?  Same thing on Crapvision.

yep - clicking refresh without results - sold an SPX put and bought a few FNM puts w/ bearish executions. Must be doing something bad.

The Matrix installing v1.929

#397 rog

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Posted 30 October 2003 - 04:33 PM

sorry, being European means I do not know how big this is? Is this a major event, or one that will be disregarded in the blink of an eye?
Cheers.

Putnam is the fifth largest mutual fund family in the US with $280b under management. They have been indicted on fraud by the State of MA and are now under investigation by the Federal govt. Under US securities law fraud is a breach of fidicuary duty and usually results in being disallowed from any further business activities in the scurities market.

More importantly the State Attorney Generals, the SEC and now the US attorneys office (federal govt) are investigating fraudulent trading at mutual funds. In a nut shell this is stealing from mutual fund investors inorder to increase profiits. Each of the legal orgs listed above have gone on record today saying that the fraud is more widespread and involves far larger sums of money than originally thought. imho they have just scratched the surface

#398 DrStool

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Posted 30 October 2003 - 04:35 PM

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#399 huey9

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Posted 30 October 2003 - 04:36 PM

see you in sa skatch a wand Jimi.

I,ll be the one with the smaller suitcase.

:D :D :D :D

#400 Sphinxter

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Posted 30 October 2003 - 04:37 PM

sorry, being European means I do not know how big this is? Is this a major event, or one that will be disregarded in the blink of an eye?
Cheers.

Putnam is the fifth largest mutual fund family in the US with $280b under management. They have been indicted on fraud by the State of MA and are now under investigation by the Federal govt. Under US securities law fraud is a breach of fidicuary duty and usually results in being disallowed from any further business activities in the scurities market.

More importantly the State Attorney Generals, the SEC and now the US attorneys office (federal govt) are investigating fraudulent trading at mutual funds. In a nut shell this is stealing from mutual fund investors inorder to increase profiits. Each of the legal orgs listed above have gone on record today saying that the fraud is more widespread and involves far larger sums of money than originally thought. imho they have just scratched the surface

Despite the political clout of Putnam in MA, they may have humped the camel this time.

The state is in a fiscally sour mood and the thought that Putnam was lining its already gilded pockets at the expense of the pension fund may be entirely too much.

We'll see.

#401 Lock Limit Down

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Posted 30 October 2003 - 04:38 PM

Thinking like a criminal here...They are going to leave this pig within striking distance of Dow 10000 and Naz 2000 for the last day of October and a Friday to boot. What better way to pull in more "non believers" to distribute to, then to take the markets up to those milestones on the last day of the scariest month of the year. Then have the media run with it all weekend.
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#402 Goldmember

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Posted 30 October 2003 - 04:38 PM

Has anyone else noticed that the $SPX quote has only been updating once every 10 minutes for the last half hour? Same thing on Crapvision.

Totally strange stuff. Looks like an abomination on my charts. I thought my charts froze up. Still locked in no-man's land. This can not be good for longs, though I do have higher targets for cycles further out than the 5-day. Do they fool everyone here and just break it for good and let the charts catch up or do they coerce and manipulate a white-hot candle up the bears' butts.

Oh my! This is strange stuff...

Come to think of it, the Nickme '93 had some funny looking candles around here as well.

I don't really know....though I'm sure we will inevitably find out soon enough.
Anthony caused pearls to be dissolved in wine to drink the health of Cleopatra; Sir Richard Whittington was as foolishly magnificent in an entertainment to King Henry V; and Sir Thomas Gresham drank a diamond, dissolved in wine, to the health of Queen Elizabeth, when she opened the Royal Exchange; but the breakfast of this roguish Dutchman was as splendid as either. He had an advantage, too, over his wasteful predecessors: their gems did not improve the taste or the wholesomeness of their wine, while his tulip was quite delicious with his red herring.here

#403 Bearman

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Posted 30 October 2003 - 04:39 PM

TONITE IS MISCHIEF NIGHT :o

May the mk spirits play some pranks
On the large bullish ranks
And if they do
The bottom will fall thru :lol:

#404 Dharmaeye

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Posted 30 October 2003 - 04:39 PM

Has anyone else noticed that the $SPX quote has only been updating once every 10 minutes for the last half hour? Same thing on Crapvision.

Yeh, tried different sources. All locked up? <_<
Snow Job?

#405 paul-s

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Posted 30 October 2003 - 04:40 PM

Tanks Paul, but what about Jimi's?

What about Jimi's what?



Oh, posts......

I already complimented him today. I'm still chuckling at his "Crapvision standards...if you can get past the oxymoron" comment.





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