i don't believe Fibs post had anything to do with the spike....do most of the stocks he analyses positively soar like that?......no, they don't. There are actually teams of traders who pick their mark.....most spikers have similar "great potential stories" and when the time is right, the fire is lit. Computer trading makes it easy. ASX would know exactly who they are.....but it is probably legal...to an extent. The directors probably are bemused....doubt it was anything to do with them. PSY is not the first big spiker/burner...and there is rarely any change of holdings given...ie was computer generated churn....easy to do these days. PSY won't be the last.
Inexperienced traders should have a rule with huge spikers -----if not on early, wait until late in the day before entry......if price still high....then consider...maybe. Most times will be very very happy they stayed out.
PSY Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
