4 ms·

Stole has a particular legal definition. Assets being stopped for trading occurs in all markets, including in the highly regarded US stock market. You wanted

by 21 8y ago

Stole has a particular legal definition. Assets being stopped for trading occurs in all markets, including in the highly regarded US stock market. You wanted to participate in a pump and dump, and now you are angry that you couldn't do the dump. You thought it was easy money, well, now you know one aspect that you didn't consider (that selling might be suspended)

infogulch 8y ago
Either the market is open or closed, and when that changes is a very well-known schedule (for the most part). Even the US stock market would run into some very unhappy people if they partially closed a market (e.g. only allowed buying, not selling) or they closed a particular stock at their whim. I'm not saying this wasn't risky or dumb, I'm just saying the US stock market is a poor counter-example because both of the things that happened in this case are exceedingly unlikely to happen on the US stock market.
- ceejayoz 8y ago
  Individual stocks can be frozen, and things like the flash crash can trigger circuit breakers with little to no warning. Plus, a company can (hell, typically does) release news after-hours and leave you in the lurch, or go suddenly bankrupt. Ask me how my couple dozen Lehman Brothers shares are doing...
- PerryCox 8y ago
  Yeah but just because the stock market may have been a poor example, it does not invalidate the rest of his argument. The OP tried to pump and dump, now he's complaining because he got burned. No such thing as easy money.
- mjcl 8y ago
  Trading is ‘closed’ (aka halted) for individual securities relatively frequently in the US. See https://en.m.wikipedia.org/wiki/Trading_halt https://en.m.wikipedia.org/wiki/Trading_halt
- erik_seaberg 8y ago
  > I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.—Warren Buffett
- cdiddy2 8y ago
  > or they closed a particular stock at their whim This happens all the time, a ticker will get halted for a time and no one can trade them even though the market is open. http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts

by 21 8y ago

infogulch 8y ago

Either the market is open or closed, and when that changes is a very well-known schedule (for the most part). Even the US stock market would run into some very unhappy people if they partially closed a market (e.g. only allowed buying, not selling) or they closed a particular stock at their whim. I'm not saying this wasn't risky or dumb, I'm just saying the US stock market is a poor counter-example because both of the things that happened in this case are exceedingly unlikely to happen on the US stock market.

ceejayoz 8y ago
Individual stocks can be frozen, and things like the flash crash can trigger circuit breakers with little to no warning. Plus, a company can (hell, typically does) release news after-hours and leave you in the lurch, or go suddenly bankrupt. Ask me how my couple dozen Lehman Brothers shares are doing...
PerryCox 8y ago
Yeah but just because the stock market may have been a poor example, it does not invalidate the rest of his argument. The OP tried to pump and dump, now he's complaining because he got burned. No such thing as easy money.
mjcl 8y ago
Trading is ‘closed’ (aka halted) for individual securities relatively frequently in the US. See https://en.m.wikipedia.org/wiki/Trading_halt https://en.m.wikipedia.org/wiki/Trading_halt
erik_seaberg 8y ago
> I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.—Warren Buffett
cdiddy2 8y ago
> or they closed a particular stock at their whim This happens all the time, a ticker will get halted for a time and no one can trade them even though the market is open. http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts