FYI, please read the following reply I received from Tangrams on the "Feedback" forum when I asked the following question earlier today:-
I wrote: "I just wanted to clarify something - could you please tell me if these comments are relative to just (obviously all) stocks, or are they also applicable to the Day Traders on the Day Trading forum?"
Tangrams reply to me was:-
Hi Tweets,
I did frame it for VIL in particular because of some rather contentious postings, but I see no reason why it shouldn't apply across the board.
The problem as I see it is in the detail. It is totally unverifiable and therefore, as mentioned in my post, we are unable to know whether there is truth, rumour, lies, deception, or honesty in that text.
Are there any possible reasons why anyone should wish to state the amount, particularly when large amounts are involved, other than perhaps to possibly manipulate thought and sentiment? Of course there is always the "Mine's bigger than yours" style of posting, which is typical of most braggarts.
Further, when large amounts are stated, it is definitely a a thinly disguised form of ramping and therefore conflicts with the HC Terms of Use.
Under the Terms of Use (c) it states:
"you are personally responsible for your postings (including any alterations that you make to postings). Therefore, you should not include any misleading or deceptive information in your postings and not carry out illegal or unauthorised activities using the IDS. Information in postings may, where appropriate, be made available to ASIC. ASIC and people acting on such information may take action against you;"
How is anyone to know whether the information posted is true. To state that, for example, "my best friend's mate's cousin twice removed bought 6 million of these on Monday" is again unverifiable, so it is not limited to the member's statement of purchase/sale.
We cannot ask the member to produce the detail required to verify either his/her sale or purchase of shares or the shares of any one else for that matter, unlike a request to show where information regarding an article or quotation can be sourced.
Finally, thanks for posting excerpts on the Day Trading forum Tweets. I hope this clarifies matters.
Cheers, Tangrams
For the full conversation between Tangrams and myself please go to the Feedback forum and view the thread titled: "att: tangrams".
