Forney goes on:
In the recent DNC leak, there is a folder labeled “CNBC,” containing three files with information on stocks and equities.
I consulted a financial expert on the stock info and here’s what he initially said:
Okay, so it looks like the data is based on earnings plays. The DNC or someone at the DNC is making stock trades based on earnings dates… for some stocks that are highly risky. Could be signs of insider trading. The equities file seems to be what they are holding long term...
My contact also pointed out that Smith and Wesson was on the stock list, implying that the DNC sought to make money off of Obama’s gun control policies:
They were even in Smith and Wesson. Obama introduced gun control laws that July prior to earnings. Gun control equals increased gun sales based on what I’ve seen historically. Increased sales equals increased earnings.
My contact summed it all up by saying that the stock spreadsheets look like insider trading:
Okay, so it’s all coming together now. The earnings file has dates and ER (earnings) of companies in 2011, before the ERs happen.
My contact concluded by saying that the DNC was almost certainly engaging in insider trading:
FDX: 9/22/11 Confirmed Q112 $1.46
FDX had $1.46
NKE: 9/22/11 Confirmed Conference Call Q112 $0.68
My guess is they had these pre-finalization. NKE their guess was 1.21.
The Nike trade looks awful? Probably because the final ER adjusted for FX loss or something?
They were very close on most: scary close, it seems! If they bought calls, they would have banked huge cash profits.
These could all be an analyst’s opinions, someone close to Mike Conlow, the guy on that computer. But analysts usually provide a tight range? This could be one of the biggest parts of the entire DNC leak. Given it was only 700 mb, it seems like it may be just one CD’s worth, meaning there is likely much more to come.
Talked to another friend. Has more friends than I in high-up places in the finance world. He confirms that there is no way it’s just analysts’ opinions for that earnings spreadsheet, every friend he has on the Street would kill to be as accurate as they (the DNC) almost always were. This is insider trading for sure.
(ht Keith Kelly)