"Pump and dump baby"
NEW YORK – USA – It was business as usual at the NYSE as stocks fell by over 300 points on the Dow Jones index on Friday after rising by 300 points the previous day.
“We pump the stocks up with good news, then we get one of our boys to release some juicy info that’s kind of scary, then we dump the shares and commodities. Repeat this a few times a week and you can make some serious profits, especially if you go short and long both ways,” Alan Deano, a Wall Street pit trader told MSNBC.
Pump and dumpers used to use phone calls in the old days but now the internet does all the work for them.
“With the internet you can get news around the world in less than a second. Before, we had to use phone calls to the right people for the news and then by the time it’s printed in the newspapers it’s too f*cking late or the effect is minimal. Now I can clean up by lunchtime. I’ll buy up half of Africa when the stock is dumped, then we start pumping again and again. It’s hard work you know,” Mr Deano added before speeding off in his new Lamborghini.