re: annual hc subscription/meagans/sputnic
the magazine Active Trader carried an article on Online Bulletin Boards Jan 05 Vol 6 No 1.
2 professors from uni of british columbia studied more thyan 1.5 million messages from two boards.
the study began in 2000 and does not include penny stocks i.e. those under $5. targets of pump n dump.
the report focased on the djx and the ecm.
they used 2 logical algorithms - native bayes and support vector machine
they combned the 2 indices to form 1. they found the relationship between stock market attributes and message board measures are not trivial.
robertson (moderator of elitetrader.com) determined that message boards can indeed have an impact on a stock simply because of the sheer volume of people a message can reach. however he thinks free bulliten boards are not necessarily the forum with the greatest impact.
he said - i think subscription based chat rooms have more stock moving potential than message boards mainly because the subscribers are there for the sole purpose of instantly trading on posted content like breaking news or buy/sell recommendations.
whilst the above observations are not absolute they show (the full article) that there is some influence on a stock by the amount of chat on a board.
