Wes on taking the time to check,NETE indeed was a classic P&D---the press release came out at 9:34 a.m., a shrewd move by the pumpers,playing on the fact that many people would just REACT to the super hype,but all fluff verbiage,as the trigger happy traders in a situation like that are racing each other to trade,and ask questions later.
This raises a semi-moral question which I resolved a couple months ago and that is do we play P&Ds or not,for quicky dollars?
One morning this winter I caught a press realease from MZON just as it came out,as I remember it was 9:24.It was an announcement of their new auction website just at the time of the UBID,EBAY frenzy,and I had just enough time to view the website and see it was a joke.It had only
6 items up for bid,it was a pure pump and dump press release.
I went to realtime quotes and saw it had gapped up 4 points at the open to 15&1/2,but I said I can NOT play this,it is a P&D.
As many know it closed at 57 that day.
I have since decided that I will play these situations if I stumble on one,but if I post anything at that time it would be "I am playing a PUMP and DUMP stock today,it is XXXX and a bad joke,this is a totally cynical play" Max |
