To: Joe Bilich who wrote (1657 ) 3/13/1999 12:32:00 PM From: David Smith Read Replies (6) | Respond to of 3222
First of all, I feel sorry for those followers of Quick Picks who rushed and placed market orders before the close. I can see no legitimate reason for them to release the information 15 minutes before market close on a Friday except to induce the type of buying within a highly compressed time period to produce this desired runup. This was NOT beneficial to the followers of Quick Picks and it DOES reek of a pump and dump scheme. Lakers17 and jan-mike responded intelligently in their posts and I thought that KZAP's responses to lakers17 is uncalled for. I agree with everything in lakers17 post:Message 8297984 except that I don't think SETO will go quite so low. Does lakers post warrant KZAP's response:BUDDY, GET THE HECK OUT OF HERE! YOU ARE A LOSER! Man do you look STUPID!!! LOSER! I find this intimidation unacceptable.So--what should we look for on Monday? The reality is that there will be a rush to sell on Monday morning to grab those profits that investors have waited months for. Also, considering that Quick Picks set the stage for this compressed runup, I would be surprised if Quick Picks themselves do not dump a significant number of shares into Monday's buying. I am concerned with new SETO shareholders being left high and dry by Quick Picks when the stock doesn't stay supported at these high prices. For those who want to buy SETO on Monday morning; place limit orders only to prevent getting gouged and you might want to monitor the stock price for the first hour to see if the price is staying supported.Does anyone have any history on past Quick Picks recommendations? JAMES WEATHERFORD posted the following so he might know their history:Unlike most quickpicks, this was a pure money grab. There will be no shortage of supply as the quickpickers realize they;ve been had. Jeff Butchko had posted:Most if not all "pump and dumps" are performed on the many "cheesy" non-reporting pennys That is not true. Any stock (notice I am not saying companies), especially thinly traded, is fair game for those who want to pump and dump. Jeff had correctly stated that SETO is a real company, with real products, with competent management, with consistent EARNINGS... but that does not make this stock immune to this type of behavior. David