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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Steven Messina,L.M.T. who wrote (4739)	6/7/1998 7:28:00 PM
From: Land Shark	Read Replies (2) \| Respond to of 25711

Thoughts on a Great Post! The Stock Detective is good stuff. I'd recommend it as reading for any newbie. I see pumping and dumping going on all the time in these "momentum trading" threads. It goes like this... Some "Guru" quietly accumulates a pos in a junk thinly traded stock driving up its price a bit. He then announces it as "today's pick", just as the stock has peaked in price. The feeding frenzy starts as the Guru unloads his pos. The sheep drive up the price further, often buying from the guru at the peak and end up holding the back as the price quickly tanks. I avoid pump and dumps. I try to buy quality and stick with it over a long term.