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Beware: Pump and Dump

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VituVingiSana		#1 Posted : Monday, July 12, 2010 9:52:19 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,135 Location: Nairobi		Here are a few resources on Pump & Dump schemes: http://en.wikipedia.org/wiki/Pump_and_dump http://www.sec.gov/answers/pumpdump.htm http://www.sec.gov/investor/pubs/pump.htm "Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly* or to sell..." [SEC Website]* "...gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create." [SEC Website] "Whenever someone you don't know offers you a hot stock tip, ask yourself: Why me? Why is this stranger giving me this tip? How might he or she benefit if I trade?" [SEC Website] Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#2 Posted : Monday, July 12, 2010 9:56:31 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,135 Location: Nairobi		More Info: http://www.investopedia....terms/p/pumpanddump.asp "...attempts to boost the price of a stock through recommendations based on....greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company's stock, sell their positions after the hype has led to a higher share price" Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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mozenrat		#3 Posted : Monday, July 12, 2010 10:12:12 AM
Rank: Veteran Joined: 5/18/2008 Posts: 796		yaani, beware the BUY BUY BUY criers and their perennial excitement...
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the deal		#4 Posted : Monday, July 12, 2010 10:20:02 AM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		VituVingiSana wrote: More Info: http://www.investopedia....terms/p/pumpanddump.asp "...attempts to boost the price of a stock through recommendations based on....greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company's stock, sell their positions after the hype has led to a higher share price"
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the deal		#5 Posted : Monday, July 12, 2010 10:24:56 AM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		VituVingiSana wrote: More Info: http://www.investopedia....terms/p/pumpanddump.asp "...attempts to boost the price of a stock through recommendations based on....greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company's stock, sell their positions after the hype has led to a higher share price" some wazuarians are pump and damp...how the heck do u xplain buy buy buy...some brokers r pump...faida once hyped kenya re to be worth 20 bob...wat followed is buying frenzy...Nation media are the biggest culprits..misrepresenting facts all the time..
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mukiha		#6 Posted : Monday, July 12, 2010 10:27:09 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		Most of us here just say what we plan to buy; we don't normally recommend that others follow us; that would be self-defeating, wouldn't it. I have been buying some Ugali; if I recommend that people join me, the demand will pick up and price will swing up and I end up buying at a high price.... So, if want my honest recommendation on Ugali; SELL, SELL, SELL..... so that I cab buy, buy, buy.... Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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tony stark		#7 Posted : Monday, July 12, 2010 11:20:13 AM
Rank: Veteran Joined: 7/8/2008 Posts: 947		VituVingiSana wrote: Here are a few resources on Pump & Dump schemes: http://en.wikipedia.org/wiki/Pump_and_dump http://www.sec.gov/answers/pumpdump.htm http://www.sec.gov/investor/pubs/pump.htm "Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly* or to sell..." [SEC Website]* "...gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create." [SEC Website] "Whenever someone you don't know offers you a hot stock tip, ask yourself: Why me? Why is this stranger giving me this tip? How might he or she benefit if I trade?" [SEC Website] Kwani were you supporting Holland?? Our usual monday morning cheers of all the stocks that will go up wont cut it for you today .. tsk tsk! I think its time some sobriety was brought back to the forum. Good work!!!
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