Forum Archive Index - July 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

I see my posting yesterday stimulated some responses. I did expect them.
I do hold ITC. Bought a parcel last year at 29 cents. Sold a quarter of them
earlier this year at 75 cents. Still hold the balance and follow the company
as closely as I can. This hardly classifies me as a trader, or at least not
a day trader.
I am NOT attempting to pump the share price, but merely passing on to the
group a RUMOUR [stress the word again] that I heard yesterday. You must all
make your own judgements about whether you do anything as a result of this.
Did I not once hear  or read that making money on the stock market [at least
as a trader] was often about buying on rumour, selling on fact?
Steve, I have thought also like you about the "insider trading" aspects of
this type of "information".
In this regard I would pose the following questions.
Can a RUMOUR such as this be regarded as "information"? Information, to me
at least, is more about facts than rumours.
What do you do when, in the course of going about your daily business, you
come across rumours or more objective information, that may effect you in
some way, either advantageously or disadvantageously? Do you ignore it or
act upon it? If you act upon it is this "insider trading"? 
I do not expect to buy more ITC today. This is at least partly because I
have other potential uses [not involving the share market] for my available
funds. If this were not the case I may have considered buying more ITC.
In any event I will follow ITC closely in the following few days and expect
there is a reasonable chance of some rise in the price.
If this happens it will be either because the RUMOUR is true, or,
irrespective of it's truth, because it has been heard already by a number of
other people, not just me and the those on Sharechat who I have chosen to
share it with.
Have a good weekend everyone
John
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