it is very interesting to observe the market. lots of psychology and emotions behind it. as you have seen my other posts, i am also comfortable sitting on my BLR and BLRO, eventhough i wish i have as much as SARACEN. :)
it is amazing how some companies can have a significant share price gain for no particular reason and yet BLR is doing otherwise. as u can see, the share price gain is usually not sustainable but indeed good for trading.( Not my strength here. ) the subprime problems is definitely holding things back for BLR. if this news came out a year ago it would have been a different story. i wont even be surprise if the SP goes to $1 at that time. sentiment can change extremely quickly either way!
also in addition to moly's post regarding possible manipulation, i remember a friend who told me how his father (who is rich but whom i've never met) used to buy into a certain company together with his bunch of rich friends. they just pump and dump it as if they were in control. they do make lots of money out of it and i suppose at others expense. all i know now is that he has stopped doing it. had terminal cancer.....unfortunately. well, is life fair? i can really say that BLR has been manipulated but does looks like it at times. well, i could be wrong but again , only time will tell :)
from my readings, warren buffet is known to buy into companies with "good" fundamentals at lowish SP and then wait for it to grow over the years. well, i have to say that he invest in blue chips rather than speculative stocks. the principle is similar i'd think.
BLR is definitely a growth stock!
cheers :)
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