To: Ravi Ratnam who wrote (3270 ) 4/5/1998 11:00:00 AM From: shashyazhi Read Replies (1) | Respond to of 6464
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.