@LuckyCharmz the SP was pumped hard to 13c Thursday/ Friday last week before a concerted offloading pre-news...I agree is a dirty look.
I watched with amusement from the cheap seats. Another significant aggravating factor (but not the sole factor) for investors was that this particular company was mercilessly pumped on the day trader forum with some posters in these threads in it up to their eyeballs. The thing is, if the company truly has great fundamentals there is absolutely no need to spruik it to day traders who bring a short term false economy to the SP at best.
Before I buy into a stock one of the first things I do is take a squizz at the DT thread first. If its being whored on those threads I usually sit out. Been taking that approach for some years and my annual profit percentage went up 30% and stayed up. A massive red flag is when people are desperate enough to try and get day traders in for 24 hours. Of course sometime I buy into companies which then get whored on the DT threads but at least by that stage I have my entry price without the 'DT Premium' that burns so many.
I don't need to mention the glaring problem with the ASX issuing speeding tickets when a stock is climbing fast on big volume but making no inquiry whatsoever on behalf the market when there is a corresponding sell-off on no news pre-announcement. Cheers
CPO Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
