Joined May 2006
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Status: Still here.
|2,602 Posts
Clue paragraphs are what follows:
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There is no question that advertising is an art, and manipulation is the art of advertising through the medium of the tape. The tape should tell the story the manipulator wishes its readers to see.
The truer the story the more convincing it is bound to be, and the more convincing it is the better the advertising is. A manipulator today, for instance, has not only to make a stock look strong but also to make it be strong.
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In the majority of cases the object of manipulation is, as I said, to sell stock to the public at the best possible price.
It is not alone a question of selling but of distributing. It is obviously better in every way for a stock to be had by a thousand people than by one man better for the market in it.
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So it is not alone the sale at a good price but the character of the distribution that a manipulator must consider. There is no sense in marking up the price to a very high level if you cannot induce the public to take it off your hands later.
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Stocks are manipulated to the highest point possible and then sold to the public on the way down. Let me begin at the beginning.
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The principal marketing of the stock, as you know, is done on the way down.
