04.23.09
StockPreacher.com puts the pizzazz back in pump & dumps
(click image for full chart)
I would congratulate Stockpreacher.com on the skill with which they have in consecutive weeks sent Candela Corp (CLZR: $0.00 0.00%, market cap: $N/A) up 100% and on April 20, NetSol Technologies (NTWK: $0.9299 +1.04%, market cap: $33.0M) up 60% (from $0.45 to a high of $0.72). However, their pump of NetSol attracted so much interest that it crashed their website. On the day it was pumped over 5 million shares were traded versus an average of 400,000 shares per day in the prior week. I can only guess that 1 million more shares would have been traded if StockPreacher’s website had not crashed.
Of course, like most pumped stocks, NetSol and Candela both fell after the pump and I profited from short selling both of them (I also profited from buying NetSol into the pump). Tim Sykes also has a post on this pump and how he (and I) profited from trading it. Do you want to learn how I have made $2577.30 in 2009 and $50,801.90 since last June by following Tim Sykes’ trading system? Buy some of Tim’s stuff (like his Pennystocking Part 2 DVD set … but skip Part 1) and find out.
For those who must know, I bought NTWK at $0.47 (because their website was down and my email was slow I found out which stock they were pumping from a post in the InvestorsUnderground Chatroom, which is a great place for day-traders), sold at $0.61, went short at $0.65, covered at $0.58, went short again at $0.64 (all on 4/20) and covered at $0.57 on 4/21. I made over $1500 in under 24 hours with no more than $4300 at risk at any time. Not bad, eh?
Disclosure: No positions in any stock mentioned. I am an affiliate of InvestorsUnderground and Tim Sykes and will make a commission if you buy junk using my links. I am a subscriber to InvestorsUnderground. I am a TimAlert lifetime member and have purchased Sykes Pennystocking 1 & 2 and received TimRaw as part of a TimSeminar I attended. I have a disclosure policy that loves to profit from idiots who put faith in stock touts.
Tastylunch said,
April 23, 2009 at 11:42 am
Not bad at all dude. That’s a couple PS3s and games right there. Nothing like a rally to bring the pump & dump crowd back.
Seen the Getfugu saga lately?
I know the volume is light there but I just found out their founder is on the run from Interpol. Apparently it’s same crew that was behind Gizmondo. I posted some translations from Swedish on my blog that might give you a laugh or two afterhours.
michael said,
April 23, 2009 at 12:02 pm
Don’t worry Tasty, I’m still reading your blog. Getfugu untradable, but it is still an interesting tale.
Mark said,
April 23, 2009 at 5:54 pm
thats some good trading both ways
Bringing Back The Sykes Weekly Linkfest: Six Interesting Penny Stock Articles From Around The Web | TIM - Timothy Sykes said,
April 25, 2009 at 8:15 am
[...] Congratulating StockPreacher on being the most successful/worthy-to-short stock promoter of the mont… [...]
Goode Value Investing & Trading Blog » How I Stopped Stockpreacher’s Alanco (ALAN) Bull Raid said,
May 16, 2009 at 7:48 pm
[...] received no money to promote the company) came from stock tout Stockpreacher (about which I have written previously). Stockpreacher released its ‘report’ on the company just as the market opened and ALAN [...]
Goode Value Investing & Trading Blog » The Stockpreacher does not like me said,
June 12, 2009 at 8:07 am
[...] went through the trouble to remove me from their mailing list (perhaps it is because I have written nasty things about them and thanked them for providing me with great short selling opportunities). However, [...]
G. Singh said,
June 12, 2009 at 8:29 am
If you post a remark, please take your time and verify it , before you post it.
Getfugu founder is not on the run, and doing verywell preparing his revelutionary AR application that will change the ecommerce world upside down. ( Lnch date September 2009) Pass the garbage news online and pay attention to all the potential getfugu.com has in changing our world for better and more exciting opportunities
Michael Goode said,
June 12, 2009 at 8:36 am
G. Singh: while I cannot read Danish to double-check its sources, the Wikipedia article would on MiKael Ljungman does back up Tastylunch (although it states that he is not on the run but has already been arrested).
http://en.wikipedia.org/wiki/Mikael_Ljungman
G. Singh said,
June 12, 2009 at 9:17 am
MiKael Ljungman has nothing to do with Carl Freer in the current configuration of http://www.getfugu.com. Carl Freer is extremely intelligent, brilliant, smart and most of all decent individual. An experienced , international entrepreneur, been there done that in vast array of fields of business friend of mine recently checked them out and had many meetings with Carl and his team. He is so convinced of Carl’s integrity he will trust him with his life. That seems to be an experience shared by many individuals close to Carl . There are loads of media crap and hypes online, that unfortunately misleads potential interested parties from engaging in a real deal, focusing instead on unverified press news. You might want to check this link.
http://sandberghans.blogspot.com/2008_12_01_archive.html
Imagine google has not lunched, and you have the opportunity to participate at ground level, but you are held back reading all the garbage online and not giving yourself a chance to be neutral and discover truth.
Here is the opportunity for all those who missed to participate in Yahoo, ebay, Amazon, and google prelaunch. Mark my word, in a year from today you will know “Getfugu it” just like “google it”. But waiting for that to happen, is like watching the train to heaven passing you by and you are still sting on the bench in the train station observing.
Michael Goode said,
June 12, 2009 at 9:31 am
As to Freer, Wikipedia has this to say:
“In his teens Freer forged his parents’ signature for a loan and was convicted of fraud though Freer says he had his parents’ permission to sign on their behalf for a student loan.[2][8] In 2005 he was fined by a German court for buying luxury cars with bounced cheques under the assumed name of Erik (Eric) Jonsson, though Freer says he cancelled the cheques himself because he “thought he was being sold stolen cars.”[2][8]”
http://en.wikipedia.org/wiki/Carl_Freer
His previous business venture, Gizmondo, ended in bankruptcy. Getfugu will likely end the same way. Successful entrepreneurs often succeed multiple times. Unsuccessful ones often fail multiple times. Regardless of who is in charge, GetFugu is IMHO a bad idea in a competitive market and is destined for failure.
TechLady said,
July 6, 2009 at 12:02 pm
GetFugu missed payroll on the 30th of June asking employees to work voluntarily for an additional few days waiting funds that were supposedly being wired to the firm. It is behind in its bills and the new senior tech people have caught on the just who Carl Freer is and was. This ship is going down.
Dorte Toft said,
July 27, 2009 at 7:28 am
@TechLady. Please contact me directly at
dorte dot toft1 at gmail dot com
I’am a Danish reporter.
JohnSmith said,
July 27, 2009 at 5:51 pm
Don’t work the ‘additional few days’. There is no money being wired.
After few days, Carl will claim the money arrived, but there is ‘clearance issues’.
Then, Carl will pay by check. The checks WILL bounce!
Then, Carl will claim it is all a big misunderstanding. Carl will pay with another check. That check will ALSO bounce.
Trust Dorte. Dorte has been writing about Carl for awhile.
StockPreacher.com puts the pizzazz back in pump & dumps « Reaper Trades said,
July 28, 2009 at 1:56 pm
[...] is a classic trading post from my investment blog [...]