As a result, whether under normal market conditions or during periods of high volatility, High Frequency Traders are not willing to accumulate large positions or absorb large losses.

Short sellers, who count on a stock declining in value, had accumulated big positions in Myriad shares.

Wall Street traders said that would make it more difficult for some investors secretly to accumulate large positions in companies.

High-frequency trading firms do not employ significant leverage, do not accumulate positions, and typically liquidate their entire portfolios on a daily basis.

The firm is trying to attract investors who want to accumulate positions in a few stocks and do not trade often, said Jeff Seely, its chief executive.

Since 1991 the CFTC has given secret exemptions from hedging regulations to 19 major banks and market participants, allowing them to accumulate essentially unlimited positions.

Others investors who have accumulated sizable positions in the stock have also been the subject of rumors.

"And there is no real reason to accumulate positions before Friday."

During the summer of 2006, the society prepared a "coalition of national harmony", designed to accumulate common positions among its members.

Still, Mr. Obama's money ended up being invested in two of the stocks in which Mr. Haywood, a former hedge fund manager, was accumulating sizable positions.