To: Tim Luke who wrote (26252 ) 4/12/1999 5:54:00 AM From: Oral Roberts Respond to of 90042
Tim, I just wanted to put something out for your thought regarding rumor's. I don't know that we really want to wait until a rumor is in the main stream press in order for it to be passed on and acted on. Rumor's, even ones that are not true drive the stock prices. Many times by the time a rumor makes the main street press it is old news to the people on the stock boards etc. FORE would be a great example. You brought FORE out as a take over rumor candidate when it was less then 10 and several months ago. FORE was in the 20's before the press ever picked up on the rumor. Us people who did our own DD and decided to take a chance on your unpublished rumor have been greatly rewarded, and were way out front of the real press machine. You did the same thing with XYLN. I know that you decided this after the PAIR debacle, but the people on the thread handled that very well, with calm and reasoning, they found it to be a hoax long before the main street press realized it. This also is an example of a rumor (even a BS one) driving the price on a stock. I think that most everyone was alerted to the fact that the article was crap and was able to exit with a profit long before the main stream press picked up on it. I guess in ending this, I think that the posting of rumor's, even ones that we don't agree with, is a good thing as long as they are labled as such. If they are labled as a rumor (which would mean that they are unsubstantuated) they can give us a kick off point for our own DD to see if we think that the rumor is credible and whether we want to act on it. We may also find that we want to trade off a rumor even when we know it to be crap, just because it is driving the price of the stock as the sheep blindly follow the news. Just my thoughts and thanks for FORE, XYLN, etc. All stocks that you brought to us well before the real press picked up on them. Jeff Roberts