Van Kasper conclusions.
Well kids here's the scoop. I read the Van Kasper report. He is anti-branchless banking like you can't believe. He totally believes in traditional banking with an adaptation to the Internet. He plays the overvaluation card etc. and tries to support his premise with banking talk. His primary example is the success that Well's Fargo has had bringing it's customers online. His belief is that why give services for free if customers will pay? He underestimates how fed up people are with being bilked by financial institutions. He also seems to assume that branchless banks are run by people that don't understand banking. I can say with Caplan's team, he is wrong. He treats it as an Internet fad.
Now here's the irritating part. At the end of the report it states, “First Security Van Kasper makes a market in the shares of Netb@nk and Telebanc”. After all of the hype about Well's Fargo in the report, he admits he owns shares of Well's Fargo too. It also says that directors, employees, family, family pets etc. of Van Kasper can trade in these securities while this report is in circulation.
Knowing now that one of our MM's is from this agency explains a lot about the stock patterns. Obviously they are recommending the shorting of this stock. It could be through newsletters etc. As a MM they have deep pockets, strategy, and a dislike for these stocks. Unless there is a SERIOUS upward pressure they can constantly drop this stock every time it starts to run. And when they see serious upward pressure they will turn around and ride it up for the profits. It's not like a private investor shorting and hoping it goes down. They can influence the stock and see all the cards at all times, so they know when to change sides.
I had to sell 200 shares today to avoid a margin call. I lost $7800 to these a##wipes. Disgusted is a good word for how I feel. The kicker is that with these disclosures it's fair game in the land of making money. You can blast a competitor under the guise of being an ‘analyst', then have a direct influence in the market of the stock, while sitting back and sucking up our money. Why do I feel frustrated??
My new position is that I'm going back to pure daytrading. I will try to take money back, close out at the end of the day, and not trust my money to all these variables and vultures. When I found TBFC I knew I had discovered a good thing before others and wanted to try a long-term ride to glory. I have 200 shares left and will hang on to those until I find a reason not to. I still feel that this company will be the leader in this industry and has huge potential. I just don't trust the markets and the shrewd pigs that run the show.
I was forced to financially capitulate today due to yesterday's drop with no recovery today.
Disillusioned Spotty
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