great post hirise - tailor made for what has happened here with...

great post hirise - tailor made for what has happened here with particular 'posters' - day job? ROFL, on CME on hotcopper - wheres ASIC?

"day traders characteristics
Stock Code: ASX - ASX LIMITED
Posted: 31/08/07 23:03 Hotcopper Radio: ASX on BoardRoom Radio
Posted By: hirise Views: 25
Post #: 193337 (Start of thread) Sentiment: Buy
IP: 58.7.xxx.xxx Voluntary Disclosure: Stock Held

Day traders are becoming a worse menace to society we have known.

What you need to be wary of is that the cheap stocks over the last week ( 0.01 to 0.04) have been spiking due to traders floading a stock. They are working in cartels at the minute.

Characteristics,
1. They are pumping the stock to attract interest. The stocks are moving with the intent that there is news imminent, if not they make it up
2. They do not dump but pump it on the first day
3. They do not dumpbut pump it on the second day
4. They start dumping on the third day, especially after the open being aprox 4-5 minutes of frenzied buying (the traders close the market and the amateurs open the market)
5. They will start buying up on Mondays/Tuesdays so the third day is Thurdsday and or Friday so they dont hold over a weekend
6. On the third day they will dump and pump it up to attract new punters, do this 2-3-4-5 times in sucession. Who is left holding the stocks? the long term believers that have read all the posts on hot copper supplied mainly by rampers (day traders)
7. This is repeated over the next 1 -2 trading days as to give credence to the stock and not get the long term investor not panicking too much, believing just enough to hold on the hope it will get back to the price they bought at.
8. The long term investor concedes and leaves big bucks on the table, ready for the trader to pick up when a). the announcement is realy due or b). when the stock is so cheap that they can start the cycle again from 1 as above.

If you aint got genuine news that can take the share price 3 -4 fold past the current high, forget it.

Believe it or not, I am of the opinion that if you cannot beat them, join them. I am celebrating tonight with a few quite wines after an astounding week of day trading. Gee I fukk1n hate those day traders (even though I used their tools of trade). I feel like I have cheated and i have. It is much more rewarding to make the profit geniunly."