Originally posted by possum2
bruce,
I am not ramping VRC by declaring what I am buying. What I am doing however is putting my money where my mouth is.
Easy for people to sit behind their computer and type all sorts of stuff but not willing to back it up.
It's up to each individual to do what they want in relation to buying or selling > I have been buying more and happy to do so. I am also providing evidence of my purchases so shareholders can see I am genuine.
Very easy for someone to post that he picked up another 500,000 shares when in actual fact he didn't. I would look pretty silly declaring that I just picked up another 300,000 shares a few minutes ago and someone else on hotcopper suddenly said that they purchased that stock. If that were to happen I would be very happy to provide proof of my buy contract note.
Being honest with people costs nothing Bruce.
Plenty of scare mongering goes on however, which I find both offensive and dishonest, especially when someone is forever declaring that he or she holds shares but constantly rubbishes management . Everyone has the right to complain, but not ten times a day over and over again.
We have seen plenty of that in recent times haven't we ??
In reference to your stock broker. I used to attend several lunches on a regular basis when I was in that profession and many would say they would not touch that stock with a barge pole .One stock that stands out was FMG in it's early days around the 30c mark. No one trusted Twiggy Forest.
I could provide you with endless examples where some of my fellow stockbrokers got it horribly wrong, but quite frankly I would be typing all night.
If VRC gets their funding and the shareprice goes up 5 times within the next 6 months will your stock broker reimburse you for having said he would advise you against buying them.
The simple answer is he won't.
.
Cheers.
Possum,
It certainly appears that you are ramping. But if it makes you feel good to declare how many shares that you are buying, that is you choice.
Stock brokers getting it wrong? Brokers are supposed to look after the interests of the clients and act cautiously. They make decisions on what they currently know. At the moment no brokers would be recommending buying VRC on what is currently known. But that will change in an instant if VRC can secure the funding! Your reasoning is pretty immature. At this very point in time, based on what we know, my broker's opinion is totally right! And bar chart is totally right! But those sentiments will change if VRC can secure the funding! If VRC gets to 10c, and I jolly well hope that it does, that doesn't mean that the brokers' and the markets' sentiments were wrong! And at one point in time, the brokers were right to not recommend buying FMG, as it was a big risk. That sentiment quickly changed when the company announced its discovery! Most investors don't buy stock based on hope and wishful thinking!
The market is also not confident in VRC's future either, otherwise the sp would be higher and there would be more buying. As Pel has stated, the sp is holding up surprisingly well.
Buying shares now in VRC is a risk because there are no assurances that it will secure the funding. That is just plain reality. For 14 months Trevor had been stating how confident he was of securing the $40m funding, and I bought shares based upon that confidence. Now that funding path has gone and the company is surviving on a personal loan. So I am not buying at the moment. If the funding is really and truly secured, then I will be back into buying to my hearts content.
Cheers
(20min delay)