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Noel must be sending his pump gram out in increments. I received a copy in the mail last night. IMO we are about to see this stock fall of a cliff.
By release I assume you mean start selling the shares that they have accumulated. What will prevent this from causing the stock to drop again. Or do you mean that they will start selling at 15 or so to pocket nice gains for shares bought at 10? What will cause the shares to rise above 10 to begin with? Pardon my dumb questions, I am still learning the ways of pennies.
Thanks.
Please help educate me. Why do you believe there is still life in WLOCD? What do you mean by accumulation?
I am new to pennies as well but I have extensive experience with stocks in general and trading.
Just my opinion but methinks WSER is one of the pumps in pump and dump. Heck, they were surely one of the dumpers as well since timing should not have been a guess for them. They spammed the heck out of me for several weeks carefully building this fiction about the positive impact that the 4:1 split would have and subsequent huge profits until the stock fell off the table, then not a word since. They were quite clever with the split stuff. I fell for the trap of buying a couple thousand shares that post spit would become 10,000 shares or so followed by continued run up. Bull cookies. I fell for it as I suspect others did!
Plus, I personally cannot imagine what value there would be in changing a symbol.
Anyone out there have any comments on what Kingdroc was told by WSER?
Without another massive pump, which I think is unlikely in the near term, I see no future with WLOC or WLOCD or whatever they decide to call it. I took my beating already. No good money after bad.
IMO
Understand. Generally I can monitor everything I need to. Today I could not at open. Realize this may not be a perfect situation and I am aware of the downside.
Surf,
My day job oftentimes precludes me from being able to trade at market open. That happened today.
I had reviewed PPTO over the weekend and liked what I saw. Had I been able to I would have opened a modest position as part of my continuing education at open.
However, not able to do that because of work conflicts. Now I see that PPTO is up nearly 18% today on huge volume.
Have I missed the pop on PPTO or do you surmise additional gains?
Paper trading NTRO. Thought PFVR was possibly an accident waiting to happen based on promoter emails last night. Was down nearly 20% shortly after open but has now recovered a bit.
Did not really spend any time on FRMC.
What's your take on this?
Thanks - Ebo
Hudat ... I am still a novice myself but I am learning quickly by reading the posts of others who seem to have their heads on straight.
I am personally done with WLOCD ... the good money after bad philosophy.
But, please, don't base your decisions on a newbie like me. There are a bunch of far more experienced traders out there who know a heck of a lot more than I do. But we can learn a bit together I hope.
Good luck.
Thanks for more good advice.
I was only just learning about the boards and really did not understand who to believe. Basically I was clueless. Another teaching point for the future.
Good for you KJ ... however, I suspect they have some sort of disclaimer in the fine print to cover their butts. Might want to take a close look at that. Of course, that is just my opinion since I did not receive any pumps from Stockcall. I received a bunch of pump from Wall Street Equity Research (WSER) that just flat stopped without a peep after the WLOCD collapse. I strongly suspect WLOCD will be touted by WSER as a huge win without revealing to newcomers that the stock then collapsed.
Trying to figure out a way to beat these scammers at their own game.
May be wishful thinking on my part but I am going to try. Wish I could figure out how to identify the stock and take a position before the pump happens, then close once the pop starts happening. Timing is clearly everything. Of course, if I could figure out how to do that I'd be a rich man.
I only use money that I can afford to lose. Going to keep trying.
Thanks Surfin ... I dove in the pool as a first timer with WLOCD and got a nasty surprise. I did not notice that WLOCD had been on a steady rise since Sep 10 ... then the promoters got busy and fooled novices like me and we ran the stock straight up. I am sure I wasn't alone on this. When I saw that happening I should have punted with a nice gain. But I didn't. Closed out after the first drop to mid 30s when it finally realized the dump was occurring to cut my losses ... then watched as it then went from the low 30s to around 10.
However, I see a lot of posters say they are entering WLOCD at this point. Seems that people like me who got burned will be hesitant about throwing good money after bad ... I know I am. Unless the promoters refresh their fictitious pumping, I am doubtful that WLOCD is going anywhere positive at this point.
What's your take?
Thanks for the advice.
Thanks Skimmer
Does this statement in PPTO's annual report concern you?
The Company has not attained profitable operations and is dependent upon obtaining financing to pursue any extensive acquisitions and exploration activities. For these reasons, the Company's auditors stated in their report on the Company's audited financial statements that they have substantial doubt the Company will be able to continue as a going concern without further financing.
Here's a release from yesterday.
Precision Petroleum Corporation Acquires 58% in the Thompson #2 Well, Garvin County, Oklahoma
9:15a ET February 4, 2011 (Market Wire)
Precision Petroleum Corporation (OTCBB: PPTO), a Nevada company, is pleased to announce that it has purchased 58.375% of the Thompson #2 well located in Garvin County, Oklahoma. Thompson #2 is currently producing from the Viola Lime hydrocarbon-structure.
Richard Porterfield, President, advises that the company will proceed with an immediate remedial work-over on the Thompson #2 well. This work-over involves a cement squeeze on a lower formation which will in fact prevent salt water from entering the Viola reservoir. Porterfield, a Petroleum Geologist stated that this intrusion from a nonproductive formation has a major impact on the production capacity. He further stated that the cement barrier will allow the Thompson #2 well to produce from the Viola which previously had a very promising production capacity.
Oil production should increase 2 to 3 fold with this procedure. Other Thompson wells in adjacent leases have produced in excess of 22,000 bbls. These adjacent wells have not been subjected to the salt water intrusion encountered in #2.
Precision Petroleum continues to evaluate all of its 26 leases in Oklahoma and will embark on recovery maximization of these oil and gas reservoirs with the application of superior production techniques and engineering solutions.
Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America. Precision's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Precision aims to define larger projects that can be developed with Joint Venture Partners. More information about the company is available at www.precisionpetroleumcorp.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company does not intend to, and undertakes no duty to, update any such forward-looking statements to reflect the impact of circumstances or events that arise after the date such forward-looking statements were made.
Contacts:
Precision Petroleum Corporation
1-405-273-9779
info@precisionpetroleumcorp.com
www.precisionpetroleumcorp.com
Educate me a bit if you would.
The news release you included on PPTO is 2 years old or so it seems.
What am I missing?
Thanks.
One of the things that I have already learned as a novice penny stocker is that many, perhaps most, of these pennies do not act like typical stocks regarding technicals. Not saying that is definitely the case here but be careful. Like trying to catch a falling knife.
Good luck. Let us know how this plays out. I for one am out of WLOCD .. already got burned once. I am sure I will get burned in the future but if I do it will not be because of poor DD or emotional investing on my part.
Wall Street Equity Research. They claim to be a brokerage firm. Maybe they are but they are also a penny stock promoter. They recently flooded email traffic touting WLOCD as a can't miss. They hooked me. And for a while it was ... until it fell off the table. Haven't heard boo from WSER ever since.
Thanks for the insight Drumstick. It is becoming quite clear to me that I did not have a clue what I was doing. I fell for the old "if it sounds to good to me true .." Your philosophy and points make a lot of sense.
How does one find Surf's Board?
Also, did you mean FMRC in your last? Can't find it. As part of my education I'd like to watch some other pennies to see what I can learn.
But how is that low lifes like Fields stay out of jail?
Thanks again.
I got tons of stuff from WSER about WLOC/D on the way up, but not a peep since the collapse. You still getting stuff from these slugs?
Obviously I entered this sucker way too late, as all the mid Jan hype was getting circulated. I did not venture more than I could afford to lose but losing 40% was still no fun.
How does one go about finding such potential big gainers (Sep thru mid Jan in this case), get a decent profit and then get out before the house of cards collapses? Of course, some of these pennies will never go anywhere I guess.
What's your key at beating the insiders and charlatins at their own game? Realize this is all very risky but grabbing even 500 or 1000 profit early on is not so terrible.
Thanks.
Yes, they fall off the table when people figure out it is a fictional company.
Quite honestly I don't have a clue what it will do. Even some sort of "great news" press release will not be enough to get me to chase this sucker. I learned my lesson. Glowing reports of a rich future are only designed to get people to buy in and raise the price but without any real basis. It might go up if that were to happen. And I guess there are some out there willing to chance it. But I am certainly not dumping any more money into what appears to clearly be a fiction.
Good luck.
Of course I am not happy. I trusted scum bags.
I'd be very curious and interested to see what you based these calculations on.
My sensing is that these are not shorts but are insiders given millions of ultra low cost shares selling chunks at a time ... then waiting for us to move the price up by buying ... then repeating the process again and again and again. When you have a cost basis as low what Mr. Fields apparently had you can keep hope alive for others for quite a while. I opine that Fields et al are only adding to their bank accounts at our expense. Time to move on.
Regardless of the real truth, way too risky for me.
Plus, if we don't play this game, the shysters can't win.
It seems that some are still trying to rationalize that WLOCD follows traditional trends and are trying to make chicken salad out of chicken &^%$
Good luck to those of you who are holding out hope that WLOCD is a diamond in the rough. I don't see it. As traders we are giving value to a worthless scam. I have neither the time nor experience as a penny stock wizard to win this game. Back to real investing.
This has been quite an education for me.
Next time I am tempted to chase a penny stock I will remember WLOCD. It was too good to be true.
Excellent research GoldMinejunior.
I gambled (vice invested) and took a 40% loss but on an 8K position but now realize it was a swindle from the get go. Henceforth I will let others play this game. I am moving back to reputable stocks. Learned my lesson.
Fields certainly appears to be someone we should all avoid in the future ... especially when he is named CEO of 12 more companies.
Thanks for setting me straight. I played the sucker on this ... no more.
Nothing more than smoke, mirrors and a ton of balderdash by the pumpers.
Well put stem cell!
Sykes111 ... you seem to be one of the few (perhaps the only one) who understands these continuing swindles or pump and dumps. Most of the posts reflect people hoping against hope that they can make a quick buck.
I am new to this blog. I understand how the pump and dumpers make their dough but I am less certain how the rest of us win the game. How does one beat these guys at their own game?
Thanks
Perhaps you are correct ... only time will tell.
However there seems to be an "accumulation" of evidence that something is not right.
First a reputable company would surely have commented on Friday's disaster by now in an attempt to forestall a further run on the stock. But not a peep.
Second one of the other posters pointed out that this same Las Vegas office address or trailer park or whatever it really is has been the address of other pump and dump stocks (TNGS was a recent one I believe).
Third, 2 employees virtually no cash and no income that I can discover.
Fourth why would anyone send a geologist (not named by the way) to check out supposed properties that should have been checked long ago.
I do not pretend to be an expert on this but my gut tells me I fell prey to a scam. Hope I am wrong but I just don't see any evidence to the contrary right now. This is just looking an awful lot like a make believe company since I can also find no comments by some of this supposed partners of WLOCD. And, to me at least, a greater than 50% drop in a matter of minutes is pretty catastrophic.
Enjoy reading everyone's opinions ... be nice to know what the real story is.
Methinks I swallowed a bitter pill.
Yes, I kept a part of my position. Realized I had probably been duped and liquidated about half of my position at considerable loss. Probably should have unloaded everything before this supposed stock goes to zero.
Hard to admit I've been duped but that appears to be the case. Interestingly, when I entered my sell order, it was snapped up in seconds. Perhaps by the same con artists?
My guess is the free fall will continue on Monday. However, it would not surprise me to have WLOCD release supposedly wonderful news over the weekend to convince people to buy more so we can be stung again.
If there is a rebound I plan on liquidating my remaining shares.
Guess I was hoping that this was legit but it was too good to be true and wasn't.
I learned my lesson.
Scam???
Caught wind of WLOC and tracked for several weeks. When the 4:1 split was announced I took what now appears to be the bait. Realizing this was probably to good to be true and I might lose everything, I took a modest position pre-split. Post-split the stock traded slightly down for a week or so. Continued press releases kept my interest, though these releases apparently are complete fiction.
I have concluded that insiders (whoever they may be) awarded themselves millions of shares with cost basis of less than a penny per earlier this year. Then they bide their time, pump the stock and patiently wait until post split to maintain the illusion that all is legit. Heck, even the split itself was likely designed only to add legitimacy to this event.
I am guessing that these insiders waited for short period then dumped millions of shares on the market. Of course this caused the value of the stock to plummet but millions of shares sold at a range of 60 cents per to 25 cents per is still a huge chunk of change.
Does anyone share my suspicion on this? Realize I have nothing concrete to back up my arguments.
Would appreciate feedback from those of you more experienced at such things than I.
Thanks.