Forum Archive Index - July 2000

[richard hermans <r.m.hermans@xtra.co.nz>]

Very nice of you to share this "information "with us John, I certainly
appreciate it , & would do the same if I had neew info to share with
others;  Regards Margie

"Wedde, John" wrote:
> 
> 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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