- $3B reliable profit: lie
- $150M in credit: lie
- credit agreement signed on 11/1/10: lie
- never late on a SEC filing: lie
- >80% support in written testimony: lie
- Gillispie's MIT degree: lie
- Gillispie's executive role at Browns Ferry: lie
- Business man of the year: lie or stupidity
I have a lot more material and could go on like this for a long time (and I probably will!). But today we'll look at a different angle that's part of any serious pump and dump. And that's technical stock manipulation.
In today's first session we'll cover a popular mechanism that is just beautifully visible in today's two week chart: issuing artificial bids before the market opens. Some investors looking to buy/sell the stock look at the bid/ask before the open and submit their orders with limits chosen accordingly. Before the open there's hardly any volume so it is very cheap to position bids at that time. The overall effect is an upward manipulation of the market price.
And this is exactly what it looks like: