Australian (ASX) Stock Market Forum

Hot Copper: how day traders fuelled a $1bn frenzy

Jump to new
S

Surething

Joined
3 October 2006
Posts
2
Reactions
0
The Australian Financial Review --- Page: 1/72-73
Neil Chenoweth
13 October 2006
In just half an hour on 5 July 2006, $A51 million worth of Cudeco stock was traded on the Australian Stock Exchange. A buy order for 5,000 shares in the junior copper play, then still known as Australian Mining Investments, was matched with four sellers, two at $A10 a share. This sparked a day-trader frenzy, which ended at 10.58am when trading in Cudeco shares was suspended. None of this was accidental. Aggressive buying by Cudeco's sponsoring broker, Aequs Securities, and a favourable report by Martin Place Securities were factors. The stock was also promoted by contributors to online investor forums. The matter is being investigated by the Australian Securities & Investments Commission.
 
Surething said:
The stock was also promoted by contributors to online investor forums.
Click to expand...

In HC every stock is either being ramped or downramped - and its been like that for years.

Can ASIC do anything about that??

People that buy based solely on what they are read on online forums almost deserve to lose money. Every1 out there is keen on making money for themselves. This is what the stockmarket thrives on. Buyers and Sellers, theres no new money being created, just transferred from one person to another, usually from the impatient to the patient.

Put there are some rampers on HC i believe that really make good money profiting from the gullibility of others.
 
There will always be the gullible, and there will always be those who prey on them, whether it be HC rampers, Mr Tweed, Nigerian scammers, or just some street con artist. Such is the nature of the human race.

I suppose it could be considered a case of natural selection: the gullible tend not to become the rich and powerful in society, which is probably a good thing.

Still, at a personal level, it is very unfortunate to see some struggling pensioner or whoever relieved of their life's savings in what others might recognise as an obvious scam.

GP
 
I personally think its a bit of a cop out to blame forums for this. At the end of the day, the announcement declared a resource far in advance of what the company's market cap warrented and way above what should have been possible (with any degree of certainty) for the number of holes they punched into it.

Fear and greed drives the market and it drives many forums as well. It's against the human condition to share information without some kind of personal slant or bias in it.

In my opinion, as long as a post has something to substantiate the opinion presented its fine. People can assess it and make up their own mind.
 
nizar said:
In HC every stock is either being ramped or downramped - and its been like that for years.

Can ASIC do anything about that??

People that buy based solely on what they are read on online forums almost deserve to lose money. Every1 out there is keen on making money for themselves. This is what the stockmarket thrives on. Buyers and Sellers, theres no new money being created, just transferred from one person to another, usually from the impatient to the patient.

Put there are some rampers on HC i believe that really make good money profiting from the gullibility of others.
Click to expand...


Hotcopper and its Hotcopprites*** management IS a disgrace to the Australian investment community, as well as the Australian Nation as a whole.
I have been going there -on and off - for more than five years. On and off, is the result of their paranoic whims of the "management" (in my case always a certain Mike_au, He adds the Au ...Toi indicate how good an Australian he is...) to ban someone the political OR humanistic views do not find their twisted minds in agreeance.
They have hacked my computer many a time (HotCopprites***), they have endeavoured to demoralisedly besmirch me and they have banned me more times than one to remember care. The reason? Well, A). I do not share their "way"of trading (Paid amanuenses, scribes with more nicks than Lernaia Hydra had heads, and faster developing new ones, than Macrae develops his copper reserves). The WELL KNOWN ""G."" Mafia, a lamentably sorrowful situation really, controls the H/C happenings. Out of all the nom de plumes, and even though they know ( they are being watched-Definitely in the last 2-3 months) they still persevere with nom de plumes that sound very...."Greek".
The "new"owners EXPOSED FINALLY YESTERDAY in The very well F.R written article (more to follow, methinks....ALL honest Traders now KNOW where they can "call"IIF the ASIC does not want to take action) are in cahoots with the illicitly manipulating G. mafia.....
How did it come about? Well, the previous (H/C) management was 100% infiltrated left right and centre , literally and metaphorically (reasons obvious......) by the mafia. This new management, led by E-Bet and a certain mr. Michael (nice name...) Hale (all in the F.R article), have sold some technology to a Greek casino in Syros Greece......One wonders...Was the "bond" between the MAFIA and mr. Hale was thus initiated? (Irrelevant: Michael Hale in all his personal details states that he is a Good Catholic, a member of some Catholic Organisation -Catholics Now directly supporting the Gambling Industry? The Island of Syros in Greece Is the only region in Greece that's Catholic -good, better than orthodox-mullahic- dominated)....
The total deal was worth only $185.000 to the E-Bet shareholders, BUT millions to the mafia......
Asic the FEDS and ALL our other Financial Enforcement agencies have a lot to delve into.....
The second reason is this: The "good"mafia, like "good Greeks" they are, have become such audacious anti-Western investors-manipulators that now openly advocate and promote a strong anti-Western, anti-Australian, anti-USA policy. Dare you write anything in favour of the USA and against Islamo-fascistic fanaticism in Hotcopper...You are History! Banned! Ask me...Ask me how many times have I been banned for ïnsulting"the islamo-fascist terrorists ängels".
Now, the term Islamo-fascism has been used extensively by the US President. They ban me, they ban the Head of our Greatest Capitalistic Nation that allows those "good humans"to make money, millions by stealing -through utter manipulation- from others....
Paranoia? Cyclothymic mental disturbance? NO! Just plain Fascism! Some members of that Mafia are from Cyprus, with huge chip on their shoulders. They are more arabic, more muslims in their beliefs than any other member of the EU. Instead of them being BANNED and sent for few years behind the slammer (someone said this: Pede Poena Claudo. Famous Horatio's saying for those who know)....They have Banned me. Hacked my computer hundred times, and made it impossible for me to find justice. OR so they think.......

For them this I have to say. It's a very liberal translation of the Latin expression above. In English and Greek:
Punishment, justice sometimes it appears as if it walks lamely....Painfully slow. However, it always reaches its target...

H Timwria badizei koutsainontas, alla den argei OPOSDHPOTE na fthasei!


PS1.***** Hotcopprites...Copprites=Scoundrel in Greek. Paraphrase.
PS2.********* The Financial Review article openly insinuates that the Infamous character Trade4profit had many other nicks (surprise Surprise...Poor Lernaia...You pale into Historical insignificance.....).
Amongst those was Rakia. I had spoken (in writing form, in Hotcopper) to Rakia several times. Initially he uttered reasonably good Greek...Of late, he pretended he only was "learning"Greek.........
And, honestly I had thought Rakia (t4p) was a nice fellow....How wrong can one get......

Cheers! I hope my return here will not be met with the same razors Hotcopprites are using!


Have a wonderfully apolaustic Sunday, all of you:)))) Michael.
 
If Hotcopper is fined a VERY HEFTY fine as it should, and will, I can assure you this: More people will be happy to see that embarrassment of the Australian Investment Community disappear into the ubbliettes of absolute kaiadaic nothingness than the few inhumanely stealing manipulators from the newbies and others who visit that site of utter disgrace. Mr. Michale Hale, like a good Catholic he claims he is should either: Shut, close business tomorrow morning OR, better still, get rid of all his "G"Mafia manipulators, mates...
Just an example: Some of them at H/C have, with the support of certain brokerage house, have made a mint out of CMR (Compass)..... Now, CMR is in business for more than 15 years......What have they thus far , after 15 years, produced to justify a price of $4+ ? Nothing absolutely! Except making its directos, and their mates, Hotcopprites manipulators millionaires....
CMR is NOT worth more than 20 cents!
A certain Hotcopprite (his nom de plume is a further indecent embarrassment to H/C and mr. M. Hale) has been spruiking this dud for years...He has made a mint out of it.......When, as it looks NOW, the time turns, and people wake up to the reality, CMR goes down to 50 cents, or even 20 cents (nearer to its true value) , how many people will AGAIN be burned?

Cheers:))))))))))))))))))
 
I was looking for a different take on gdn and thought id take a look at hot copper. I hadn't looked at there site b4 tonite ( truth) but how hard and uninviting is their site to get around ? And after reading the articles in this thread, makes me appreciate what a great resource this site (aussie stock forum) and its members are! Well done asf!
 
Epsilon said:
If Hotcopper is fined a VERY HEFTY fine as it should, and will, I can assure you this: More people will be happy to see that embarrassment of the Australian Investment Community disappear into the ubbliettes of absolute kaiadaic nothingness than the few inhumanely stealing manipulators from the newbies and others who visit that site of utter disgrace. Mr. Michale Hale, like a good Catholic he claims he is should either: Shut, close business tomorrow morning OR, better still, get rid of all his "G"Mafia manipulators, mates...
Just an example: Some of them at H/C have, with the support of certain brokerage house, have made a mint out of CMR (Compass)..... Now, CMR is in business for more than 15 years......What have they thus far , after 15 years, produced to justify a price of $4+ ? Nothing absolutely! Except making its directos, and their mates, Hotcopprites manipulators millionaires....
CMR is NOT worth more than 20 cents!
A certain Hotcopprite (his nom de plume is a further indecent embarrassment to H/C and mr. M. Hale) has been spruiking this dud for years...He has made a mint out of it.......When, as it looks NOW, the time turns, and people wake up to the reality, CMR goes down to 50 cents, or even 20 cents (nearer to its true value) , how many people will AGAIN be burned?

Cheers:))))))))))))))))))
Click to expand...

How did we get from CDU to CMR ???

Anyway, I know someone that wants his dad to mortage the house and margin loan (not that you can) against it to buy CMR - due to it's hefty 300% return, It's his "retirement plan"
 
Hi mobcat

You have just dredged up a thread from 2006..I have no love for Hotcopper..it seems to be a rampers paradise..BUT

Could you give us all something more edifying than this..
 
HC forum moderators do post and promote some certain stocks. Watch out if you wish to post anything negative or opposing their opinion. They sure do know how to shut you up eventually. Good luck..
 
Kent1810 said:
HC forum moderators do post and promote some certain stocks. Watch out if you wish to post anything negative or opposing their opinion. They sure do know how to shut you up eventually. Good luck..
Click to expand...

Well obviously they haven't shut you up? So now I'm intrigued as to your evasive strategy? National security clearance? ;)
 
GumbyLearner said:
Well obviously they haven't shut you up? So now I'm intrigued as to your evasive strategy? National security clearance? ;)
Click to expand...


Hey Grumpy old guy,

Please don't tell me this forum is controlling by HC moderator too????. Are you one of them? I will be out of here in a flash if you are :confused:
 
Kent1810 said:
Hey Grumpy old guy,

Please don't tell me this forum is controlling by HC moderator too????. Are you one of them? I will be out of here in a flash if you are :confused:
Click to expand...

Of course not mate!

This forum is far more logical & objective than the plebs you have been dealing with previously.
 
CMR was a bubble just wating to burst all it needed was a prick from a group and the rest is history .....if that was internet forums so be it it,s a modern trading world we operate in each to there own tools of research or spruking :2twocents
 
Top