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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (920)	12/20/1998 11:09:00 AM
From: Rande Is	Read Replies (3) \| Respond to of 57584

To all: Wayne brings up the point of ethics on SI . . .can't pass the chance to air a pet peeve of mine. . . . "cannibals." You've seen bands [10 or more working as one] of them primarily in the cafe and all over net, that prey on the newbies and lurkers on SI threads. Hence the term cannibal. They bought big yesterday. . . quietly watched price rise as they pass around their pick thru PMs, then just when stock looses momentum [from 1 hour to 1 day later], they begin to post furiously all over the cafe and other threads that they had found a "winner"....buying more....holding til 20....posting news....discussing the merits of the company, etc. . . . And the ONLY reason they start posting is to hold the price up on the stock long enough for them to exit. Otherwise it would tank as soon as they all sold their huge amounts of shares. Oh they are not stupid, they will mix in some buy alerts on SEEK or CPQ or other stock that leads the day in volume to throw off the scent. This does not happen just once in a while. . . one band of cannibals runs in and out of stocks several times each day. . . If one were to trace their buy alerts to the stock prices at that time to a hold of say 2, 4 and 8 market hours. It would make a fascinating study on P and D. The most obvious are the early morning buys, when smart traders know that is the time to sell. Then when they have completely sold off. . . and newbies have bought in. . . not another word about that stock. Not even to answer a question on the very merits they posted. . . No, they go back to stealth buy mode. . . buying the next vehicle for easy cash from the SI suckers that read the posts. Rande Is [stepping down from soapbox]