Monday, May 19, 2008

Movers & Shakers

Ah! At last.... I have managed to move the price of a stock single handledly by 5% on the NSE(National Stock exchange). A sense of achievement. Now I know what it takes to rig the price of a share in the market. I have been watching this stock(Lets call this MNO) for over a year now and always wanted to buy it at a fair price to its earnings. And on the 16th may, I finally got a good price and even more importantly, I have enough cash to keep buying it till i could make it go from -1.4% of the previous close to +3.8% of the previous close. As I kept buying my only worry was if there were any big players trying to rig it the other way. Well, my worries were after all, stayed only as worries as no such thing happened. Now I feel proud to be a "mover" of MNO stock. P.S: The stock I am talking about is Zodiac Clothing Company Ltd. If you know this stock better, you would be knowing that this is a very illiquid stock with very low volumes being traded daily on the exchanges. On 16th may, till afternoon only 2 shares were traded. on the NSE. I bought 8 bought shares at market rate which caused the stock to go to +3.8% over the previous close all with the amount of just over Rs.3500. :-)

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