GDY only down 2 or 3 points mid morning. Pretty good and as it should be for such a dramatic day. The Wall St. 4% odd tanking last night and its affect on European markets etc. is pretty dramatic but it is rather a localised drama, ie. just one sector of the financials market. Specifically Merril Lynch a stockbroker and Lehman Bros. what?, an investment banker I think.
imho I don't see that that should affect the value of GDY unduly though markets are markets and not particularly logical things.
I hark bck to the recent 'discusion' here of 'weirrd' trading activity on GDY which sort of reached a concensus of sorts that the frequent trading in small lots of shares was 'evidence' of someone or ones engaging in BOT trading. (using a 'robotic sort of computer based trading system to manipulate a share prive up, or down, for whatever reasons.)
Since this was aired oddly, the 'weirrd' trading pattern has largely stopped!
Withe the turmoil hitting the market generally today I thought to myself "What a nice opportunity for the suspected 'BOT' traders to come out at some point and drive things down a bit harder and then buy up shares at the bottom as they spook out frightened holders.
Well as I post this at 11:57am EST. there is no obvious sign of bot trading to my eye. The price is holding steady at $1:27 where it opened this morning havng wavered a couple of cets up & down earlier, so not bad.
This suggests most holders are firm in their belief in GDY and I will be watching for evidence of BOT trading emerging and affecting the price adversely. I certainly hope this doesn't occur and hopefully at least Hotcopper readers will not be frightened out.
geojac
RNE Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
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