Jayne's tip drives the gravy train
- Hedley Thomas
- January 05, 2007
FIVE trading days ago someone who goes by the nickname of Jayne delivered a spectacular tip to one of the internet forums dedicated to Australian stocks and their fast-moving day traders.
Her brief post on
www.crazyjimsmith.com shortly after the market opened on December 28 stated
I did some research last night on Goldsearch Ltd and feel that it's worth a look at. It's up over 8 per cent this morning and is currently drilling for uranium 6km away from the old Mary Kathleen uranium mine. When the day traders and stickybeaks saw Jayne's post, Goldsearch - the newest darling of the booming uranium exploration sector - was just under 5c a share. The options were under 2c - and Jayne claimed to have bought 200,000, which would have cost almost $4000. Twenty minutes later when Jayne made another contribution to the forum, Goldsearch shares and options were lifting off on high volume. "Anyone else getting on board?" Jayne wrote.
The program is targeting uranium mineralisation at the historic Elaine Dorothy prospect and at the recently identified McGregor target.
Goldsearch had started to rocket, attracting the hundreds of day traders who browse a handful of internet sites. News of Jayne's prescient post that morning was spreading like wildfire.
Some traders expressed scepticism, suspecting blatant ramping or a pump-and-dump, while others scrambled to get on board.
I hope your information is good Jayne because I just followed you! wrote Crazy Jim Smith.
Jayne replied: All my info is provided in good faith after hours of countless research. In this market, uranium is still the flavour of the month and that is the main reason for me to buy. Welcome aboard the GSE train.
Before lunch, Crazy Jim Smith was seeing a significant profit on his own investment. He was getting premonitions of $1. But minutes later, Jayne was jumping.