11-18-2010, 01:41 PM
It depends on the source of the information. First of all I am assuming you do not work for the company, because that would be an easy call. The main question is how did the person get the info and who is the person that provided you the info.
Trading on rumor is not insider training. So if some guy said, I heard that this is blaq bla, but he does not work for the company, and you dont have specific knowledge that he obtained the data from inside information, then its fair game. Betting on speculation is not illegal. But if the guys said, Joe who is the CEO told me bla bla bla, then you would be in the "Martha" place.
Trading on rumor is not insider training. So if some guy said, I heard that this is blaq bla, but he does not work for the company, and you dont have specific knowledge that he obtained the data from inside information, then its fair game. Betting on speculation is not illegal. But if the guys said, Joe who is the CEO told me bla bla bla, then you would be in the "Martha" place.
Maul, the Bashing Shamie
"If you want to change the world, be that change."
--Gandhi
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"If you want to change the world, be that change."
--Gandhi