IRC Chat. The problem there is the 'gurus' are there primarily to "use" the room to help them out of their positions. I won't name names, but the self promotion and selective memory exhibited by a few of the top dogs is quite nauseating.
There are some good traders offing legit info. Unfortunately, there is also a good deal of FRONTRUNNING where the best prices are picked off by the few, and then the stock is 'released' to the waiting masses. Sure they sometimes keep going and then you'll hear 'hey , wasn't that great, Glad I could help'. haha
When the same play fizzles , there's talk of tomorrow and target prices. So they take stock cheap, tout it, sell it wherever, and then issue a sell to the room. Nice racket, I wish I could get 100 traders to back me up, never have another losing trade again ;-)
Bottom line, as much as it pains me to watch the shenanigans, it's a matter of self preservation to know what's happening in these chats. Since they do create movement in stocks , I want to know where it's coming from and where it might be going. |
