I agree about the daytraders running the price up at the open. I
subscribed to a daytrading BB which is moderated by a host who
gives news alerts, trading alerts, and urgent buy alerts. At least
one daytrader among this group of 3000 traders remarked on
Osvaldo Christian's SI post. For the last week, while BAAT has
been relatively quiet, the host has been advising the daytraders
to accumulate shares on the pullbacks. Then, Friday morning,
upon learning of the JV, the host told the daytraders, "OK, there's
a JV announced, you all know what that means." Then he issued
two urgent buy alerts, telling the daytraders that they could all make
"half a stone", or $500 from the quick movement. Then the BB
server went down, and the host had to drive over to another city
to reset the remote computer, so several more urgent buy alerts
were not issued. Later, at least one daytrader bragged that he had
made "a stone and a half", or $1500 from the quick move from
$0.89 to $1.03. There is nothing particularly unethical about this
daytrading BB, but they do feed upon Silicon Investor for information,
all the while regarding the long term investors as "putzes" who fill
up the SI board with chatter, instead of information. As a long term
investor, who wants to see BAT grow to a greater potential, I feel
that anybody who knows any good news about BAT should post it.
My partner feels that news should be kept secret. My argument to him is news should only be kept secret if he plans to buy more shares at
the next open. I also believe, that as long as his shares are down
from his purchase price, that he should welcome the posting of any
news which would draw attention to BAT International. |
