Forum Archive Index - February 2000

["G Christie" <bayvu@ihug.co.nz>]

Adam, I can't get into your site at present. Is there a problem? Thanks
Graeme Christie
-----Original Message-----
From: Adam Rands <adam@iguana.co.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Thursday, 17 February 2000 13:31
Subject: Re: [sharechat] Renaissance manipulation? - i dont think so


>its not manipulation.. its just stupidity
>
>it happens all the time.. especially in aussie with the specy non liquid
>stocks and all the mums and dad investors pilling in at whatever price.
>
>if you work out the volume weighted average price (VWAP) u will find the
>true price of a stock for any one day...
>
>however in saying this, manipulation may occur in small stocks for various
>reasons
>
>lots of companies/brokers are running "internet sharemarket games".. these
>games sometimes attract serious prizes ($100,000 etc)
>
>most of these games work on the basis of valuing a portfolio at the end of
>the day.. many sneaky people (i myself have thought about doing it) buy
>virtual stock in the game and then ramp a small cap stock on the valuation
>day (this may cost them a few hundred dollars).. but as long as the last
>trade has gone through at a crazy price the stock is deemed to valued at
>that thus making their virtual portfolio worth $$$$$$$.
>
>i have considered doing this on the NZSE sharemarket game (simply to
>highlight their lack of sophistication) but alas have never had the time to
>bother..
>
>something to think about..
>
>Adam
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>-----Original Message-----
>From: Robert Nottage <robnottage@yahoo.com>
>To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
>Date: Thursday, February 17, 2000 11:17 AM
>Subject: [sharechat] Renaissance manipulation?
>
>
>>Hey guys,
>>Renaissance opened today at 55c. Someone then bought
>>3500 shares at 61c (how?)for the princely sum of
>>$2135. So immediately the price shoots up 10.9% and
>>Renaissance is No.2 on the Top 10 Rises for today.
>>There is now a big gap between buyers (55c) and
>>sellers (61c).
>>What do the experts think? Manipulation????
>>
>>p.s. I don't think anyone is falling for it though
>>because the stock has not traded since that transaction.
>>__________________________________________________
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>>
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>
>
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