Friday, October 07, 2005
More tracking stock spam
Since yesterday, I've recieved yet another 9 stock spams, three for GBIC.PK, three for AXCP.PK, two for TOTG.OB and one still hawking for CEOA.PK. The ones I started tracking yesterday have pretty much flatlined, while the new ones today appear to have picked up a bit, but I expect them too, to level off.
Looking at the graphs over the past five days, you can almost get a feel for when the spammer may have bought the stock (usually a large volume with a good price inrease) but what's not so easy to pick out is when the spammer sold the stock (and for the case of CEOA.PK, I suspect the spammer is still trying to get movement on that, or this spamming engine is way behind).
I'm guessing that even if one where to try to outguess the stock spammers at their own game, it won't be easy. Another thought I had, in relation to the obscenely cheap penny stocks—wouldn't the very act of buying, say, 200,000 shares cause the price to raise? At which point, sell. Even if the act may only rise the price ½¢ it's still a $1,000 profit. But, in thinking more about this, if that were true, wouldn't more people engage in that? Or am I discounting the amount of greed in stock traders?