For the few of you that follow me on twitter http://twitter.com/bob_wilcox you would have seen my tweets on AUCI. Of course I never for a second believed all 300+ million shares of AUCI common stock was to be bought for $.10, or over $30 million! None the less the stock saw some nice movement higher and in this market that is what we are here for. The big profitable moves. Buy the hype, sell for a profit, and move on.
We've had THRR and EWRC, to name a few, come across with these obviously fictitious buyout offers and in the end the stock plummets back to where it came from, and in THRR's case, a reverse split occurs. At least with THRR and EWRC the buyout drama lasted several trading sessions. AUCI, however, saw its supposed buyout last less than a full trading session. It was remarkable. The house of cards only held in place for a few hours before it came crumbling down.
To think some poor traders may have simply went to get a beverage, or gone out for a smoke, only to return to complete carnage as AUCI dropped over 75% off its highs on news that the $.10 offer was rescinded. Now we know that this $.10 offer never really existed in the first place, but the removal of this bogus buyout took away the only thing propping up this stock, and it crumbled in rapid fashion.
In this market big gains can be taken away in the blink of an eye. Trade smart and don't believe everything you read on those news wires. If it sounds to good to be true, you might want to buy it, but be sure to have your finger on the sell button.
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