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Stern Warning for Triple Witch

Traders Magazine, April 2003

Staff Reports

Market manipulation - often practiced during the triple witch period - is serious business and will be punished severely, Nasdaq officials have warned their members. Manipulators often target triple witching sessions, which happen once a quarter when the Nasdaq-100 Index is rebalanced. Some Nasdaq members - using strategies such as spraying' and pounding' - are taking advantage of the rebalancing. That, said Nasdaq officials in an internal memo, is wreaking havoc with the market and will be punished.

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