I thought I understood that. But did I? Please help me what did the "expert" mean by those simple sentences. Let me try to deconstruct those simple lines.....
- On a roll: I think this stock is rocking, buy!
- since the beginning of the second quarter of the current fiscal year: Oh, it is a recent phenomena and what happened before that, we don't know. Doubt!
- sharp volatility: looks scary.
- gave up most of its gains: Bad, I have to rethink whether the stock is rocking!
- showing signs of good movement: Good, after all it's a Buy recommendation after all.
- with a long term, there are better bets: Doubt again about the stock.
There is a bigger issue of the subprime mess. Is there some accountability for the top dogs of financial services industry, the highly rated experts, who are responsible for the crisis?
*ABC is a stock which is real and the recommendation as above is verbatim.
What they teach you is to "Take responsibility for your own financial decisions"
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1 comment:
You need to have good, smart brokers who can give you information like this...
Reliance Industries announced last Friday sale of 4% equity in Reliance Petroleum Ltd. at an average price of Rs.223 per share.
These sales were made between November 10 and November 23,2007.
Interestingly just one week prior to RIL (owned by Mukesh Ambani) selling the shares, an unknown group of people bet their shirts on a fall in Reliance Petroleum’s share price, in a magnitude never seen before in Indian stock markets.
Between November 1 and November 6, 2007, this group made short sales of 10crore shares of Reliance Petroleum in the futures segment of National Stock Exchange.
These short sales were made at prices between Rs.275 and Rs. 295 per share.
These numbers are based on official data published by NSE.
The value of these short sales is an unprecedented Rs.3,000 crores approximately.
This group of persons has made a cool profit of approx. Rs 1,000 crores in less than a month, because the Reliance Petroleum shares have now crashed from Rs.295 to Rs 195 per share!. These guys have made Rs.100 per share.
Who are these super smart traders?
What is the connection of these people with Mukesh Ambani, RIL and connected people?
And who has suffered the corresponding loss of Rs. 1000 crores? Its innocent small investors who bought Reliance Petroleum shares at the high prices, not knowing that this unholy alliance was indulging in insider trading and making illegal profits while Mukesh Ambani’s own company RIL was selling shares without disclosing this to investors!!
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