excerpt
…time a perfectly smooth flight took them to YVR where they found
Logan waiting for them. Eteo’s house was in better condition than he
expected. All three young men seemed eager to see how their father
looked after his Las Vegas trip but when they sensed at once that
serenity reigned between Eteo and Ariana, they quickly went back
to their own concerns.
Ariana spent the night at Eteo’s, and he took her back to her
apartment early next day on his way to the office. There he found
Logan and Helena already busy with the usual routine. Eteo was anxious
to find out how Richard was doing with his drill hole, but the
price of the shares and the line of purchasers had still not changed, a
very bad sign. Fortunately, Platinum Properties was doing even better
than Eteo had expected, and this lifted his spirits again. He got on
the phone and talked in turn to Spiro, Kenny, Yannis and Angelo.
They were happy and not at all eager to sell yet.
People’s psychology was a strange beast, Eteo reflected. They
liked to get out of something as soon as they smelled something
wrong, yet as long as the shares were going up, most people wanted
to wait until the last possible moment to sell, by which time the stock
was usually on its way down and it was already too late to get the best
price. By then the promotion was over, and the buyers were not there
any longer. This meant, of course, that most people got less than they
would have if they had sold earlier when the stock was still on the
way up rather than on the way down. It was impossible for Eteo, or
any other broker for that matter, to convince people to change their
mental habits and play these penny stocks smarter.
Naturally some promoters would shake off
the tree, as the saying was, when they wanted to replace shareholders
from the low end with new blood who had to buy in at a higher level.
If the early buyers were in a profit position but reluctant to give up
their holdings, these promoters would “shake up the tree” by making
sure the price of the stock went backward for a few days. This usually
had the expected result. The initial investors would panic and throw
their stock into the market before it went any lower, and the smart
people who were waiting at lower levels would snap it up. As soon as
the promoters had acquired enough shares to lighten up a certain…
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