Manipulation. In stock speculation this word is applied to the operation of working stocks up or
down or both ways.  A not uncommon method of manipulating a stock is by washing, which
consists in buying and selling the stock at the same time.   A pool may be formed in a stock to
manipulate it. The contributors to the pool (mutual fund) appoint a manager of it who conducts the
operations in the stock. If it is a bull pool the first step is to buy as much stock as is desired at as
low prices as possible and then by means of wash transactions in the stock advance the price to a
point where the stock actually held can be sold at a satisfactory profit. If it is a bear pool the first
step is to sell short (sell stock not owned) to the extent desired at as high prices as possible and
then by means of wash transactions in the stock depress the price to a point where the stock
actually sold short can be bought back at a satisfactory profit.