I agree with timmyd's statement. I think one-up is full of himself.
On the other hand, one-up's statement if true, is definitely insider trading as he has acted on privileged insider information. There is nothing really wrong with obtaining insider information, but once you possess this information you must not act on it, and make it clear to anyone else that you give this information to (if you have to) that they must not act on it either.
Just my thoughts for what it is worth.
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