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well that is the definition of a pump and dump. The newsletters get paid so the insiders can sell stock. Come on! Everybody knows that! It's penny stock investing 101.
Problem is that you don't know at what level people are going to get hurt. Just like the article says.
I have to agree with this:
Portage Resources (POTG): We Wouldn't Invest In A Company We Can't Research
June 29, 2011: We're getting a lot of email on POTG, some mocking us that it is skyrocketing in spite of the fact that we called it a Pump & Dump. Well we never said that Pump & Dump stocks don't go up.
One subscriber called POTG another LEXG. We couldn't agree more. We think POTG is exactly like LEXG. That doesn't mean it will go to ten bucks but it might. It might go to a hundred. Who knows? But one thing we do know is that a lot of people will get hurt on POTG just like a lot of people got hurt on LEXG. That's the thing with Pump & Dumps. Some will go up, but all eventually go down and most of the time go down hard. Some (mostly insiders) made a lot of money on LEXG. Even more took part in the millions of dollars lost. We promise you that is what will happen at the end of the day with POTG.
Other emails call for us to do an advisory on POTG. We'd love to do one but the trouble is that this company is based in South America. We can't find out anything about the people involved, including company President Paul Luna, or the properties that it purports to be so valuable. Which brings us to another point. Why would you invest in people far away from the reaches of the regulators, in areas (Peru) known to have a past with problematic mining claims. If this thing is exposed as a scam, who do you expect to chase the schemers who got away with your money?
And please don't fall for the old "well if it's in SEC filings or press releases it must be true otherwise the regulators would stop them". This is not the case. Companies lie in press releases and SEC filings every single day. Few get caught and even fewer or prosecuted. Now we are not saying that Portgage Resources is lying. We just can't confirm anything they say or do background checks on the peole behind it.
One thing is for sure. If this was the real deal, it would not be hiring so many touters to run Pump & Dump campaigns. We promise you that most of the stock investors are buying is coming from insiders.
http://www.pumpsanddumps.com/2011/06/portage-resources-potg-we-wouldnt.html
not according to this email I got today
June 22, 2011
Well we were again able to help stop Darryl Reed's latest attempt at a Pump & Dump of Next Generation Energy Corp (NGMC). Subscribers received a half day's advance warning of the pending promotion and sure enough an hour later, paid touter, Epic Stock Picks, sent out an email to its subscribers. The P & D was an unmitigated disaster as only 78,000 shares traded and the stock ended down 28% . That was an even worse performance that the effort in April when we first issued our advisory on NGMC. In the past, the company had promised callers that its lawyers were in contact with us and that they were going to sue us if we didn't retract our truthful advisory, but of course that never happened. You cannot sue one for telling the truth and we have never heard from any lawyer.
Another group who has learned that there is a new sheriff in town, are the Pump & Dump specialists and international con artists who run Forex International Trading (FXIT). That stock is in limbo ever since we issued our advisory, which has attracted the attention of several foes of Messers Attia and Schnapp who have contacted us for more information. Google Analytics informs us that our advisory on FXIT received significant attention in India, Hungary, France, Germany, China and of course Israel, home to two of the three stooges behind this scheme. As we were writing this alert, FXIT issued a press release which in effect said nothing new but may be a prelude to a new promotion designed to relieve insiders of their money.
Alert:
Multiple paid touts continue to aggressively send emails promoting CLNO.
We classify this as a pump and dump.
Alert:
Multiple paid touts continue to aggressively send emails promoting POTG.
We classify this as a pump and dump.
Alert:
Multiple paid touts continue to aggressively send emails promoting AAST.
We classify this as a pump and dump.
Alert:
At least one paid tout is sending emails promoting FGLD.
We classify this as a pump and dump.
Alert:
At least one paid tout is sending emails promoting NGMC.
We classify this as a pump and dump.
Alert:
Spam emails are being sent promoting LOGL.
We classify this as a pump and dump.
Alert:
At least one paid tout is sending emails promoting SRGL.
We classify this as a pump and dump.
Alert:
At least one paid tout is sending emails promoting MSMY.
We classify this as a pump and dump.
Alert:
At least one paid tout is sending emails promoting SHMX.
We classify this as a pump and dump.
Continuing Alerts:
IWEB, SUFF, JCOF, MSOA, BZRT, FRXP, IPRU, BGBV, BRKM, RYUN, SPCK, BDVI, NUVM, HMNC, EFRDF, HPGS
Be careful out there!
link to article
Another great theory is "more buyers than sellers". What kind of insane analysis is that? You can't buy if someone doesn't sell. Duh!
I don't think I would short this. I wouldn't own it but I wouldn't short it.
Nothing baffling about it at all. The whole thing was a scheme to create insider selling. We were all warned about it and didn't listen.
Bollinger bands on a sub-penny. You kill me. Stock converging quickly on zero.
No I think it is just that the insiders are done selling. The bad report said it all.
Yeah, I found that too. But I did not find the credit report.
Who knows who but the why is to put money in someone's pocket. Anyone who knows anything about stocks knows that pps of a penny stock only ends up lower after a promotion. So the pump can only be to facilitate a dump. And since the only one's with enough stock to make it worthwhile are insiders 2 + 2 = 4
You may be correct but I believe that the shell owners are still considered insiders by the SEC and have an obligation to file Form 3s. I don't believe I ever said that Overcash or Sarvis were the sellers. Where they lost their credibility with me was when they said that the had paid for the promotions in order to raise the stock price. That is crap. When was the last time the subject of a promotion retained its increased stock price. For that ridiculous claim alone, I do not trust them whether or not they have been selling stock. In all seriousness, the conference call was a terrible performance and Mr. Harrisson agreed with that analysis when I spoke with him afterward. In fact, he said that he tried to talk them out of the conference call.
That is good DD except I have one question. How do we know it's the same George Sharp? There are quite a few of them out there. Spokeo lists 40 of them in California.
Also, he is not the one running a public company.
What you saw was insider selling not buying. That was why they did the promotional campaign a few weeks ago. So that they could dump stocks. When will bag holders ever learn?
or it could go much lower
be careful with this one. There have been warnings issued by a popular newsletter.
Well a successful execution of the real plan should see the O/S multiply by 10 not the pps. How's that merger coming along? You guys have been pushing the "cheapies" for a couple of weeks now and all they do is get cheaper. I would refer back to the P n D article. Sounds more and more like they were right!
Not sure how you can say the lawsuit won't happen. The guy's litigation history was already well documented by another poster. Wishing it to go away won't make it go away. You can ignore it if you want but that won't mean it's not there.
Well they posted the court records for a bunch of lawsuits against the insiders of FXIT and the promotional material on the last P n D they conducted, amongst other things. Pretty revealing I would say.
I'm not understanding something. Are you suggesting that providing evidence of insiders' history with lawsuits for fraud and self-serving promotions is nothing more than innuendo and guilt-by-association because as far as I can see the only association here is the one the insiders have with themselves.
The unscrupulous past of the insiders of FXIT is well documented by the P n D site through the links to court documents and promotion material. Why should one believe that they will act any differently this time?
just askin'
So I'm wondering if this pick was as good as your CUBV pick?
and pumpsanddumps.com flagged this one.
I might have to step into this one in the morning.
it looks like at least one website doesn't like BZRT. it's been flagged www.pumpsanddumps.com
me too. especially since I haven't seen any pumping promotions.
I'm surprised it's not bigger.
well how do you compare MFTH to AAPL?
This one looks interesting
This report's even more impressive.
We've Already Reported This One to the SEC!
An aggressive Pump & Dump campaign is just beginning on Max Media Group (MXMI) including an illegal mailer being distributed by touts, spammers and direct mailers. The producer of this mailer claims to have been paid $20,000 but does not identify the source of the income. This is extremely illegal, as in the claim of a 700%+ increase in share price.
We've already reported this to the SEC and it's anybody's guess as to whether they will take the same action they took on our last cooperative action, which resulted in a suspension on UTOG. We suggest that you don't take a chance and avoid MXMI.
And remember,
Be careful out there!
www.pumpsanddumps.com!
I would expect that you are correct
I think that this website's record of foiling pump and dumps speaks for itself. If you look at the board for any of the stocks they've reported on the answer from the promoters is always the same. Many of those same promoters are on this board. And there's no denying that a pump and dump ALWAYS results in a lower pps in short order.
Fortunately I downloaded a copy of the mailing and have now sent it to pumpsanddumps. They said theyhad done the same and already sent it to the SEC.
By the way, anybody wanna bet there is no such thing as Fenway, LLC?
did you expect them to say, "Yeah, we're guilty"?
I think somebody should sue them. Unfortunately, all I've ever seen on these boards is threats of lawsuits. None actually get filed. I don't know if this is gutlessness on the part of the company's or whether they are afraid that the website is right. Would be interesting though if somebody finally manned up. In the meantime, a lot of attempted PnDs have fallen into the toilet after these guys release their emails.
That having been said, if they really had something to do with the suspension of UTOG and they really did report this to the SEC, I wouldn't own it. JMHO.
Hey there is no competition. I just reported an email. I could care less about this stock. I subscribe to pumpsanddumps and just told you what they sent me. That's the end of it.
They did destroy a lot of P n D attempts though. WRIT, TDEY, SIPC, and a lot of others and UTOG was suspended thatnks to them. Or at least that's what they say.
GLTY
What are you talking about? MXMI is all over their website. You think I made up this email?
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
We've Already Reported This One to the SEC!
An aggressive Pump & Dump campaign is just beginning on Max Media Group (MXMI)
including an illegal mailer being distributed by touts, spammers and direct
mailers. The producer of this mailer claims to have been paid $20,000 but does
not identify the source of the income. This is extremely illegal, as in the
claim of a 700%+ increase in share price.
We've already reported this to the SEC and it's anybody's guess as to whether
they will take the same action they took on our last cooperative action, which
resulted in a suspension on UTOG. We suggest that you don't take a chance and
avoid MXMI.
And remember,
Be careful out there!
www.pumpsanddumps.com
oops..this is bad. just received this email
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
We've Already Reported This One to the SEC!
An aggressive Pump & Dump campaign is just beginning on Max Media Group (MXMI)
including an illegal mailer being distributed by touts, spammers and direct
mailers. The producer of this mailer claims to have been paid $20,000 but does
not identify the source of the income. This is extremely illegal, as in the
claim of a 700%+ increase in share price.
We've already reported this to the SEC and it's anybody's guess as to whether
they will take the same action they took on our last cooperative action, which
resulted in a suspension on UTOG. We suggest that you don't take a chance and
avoid MXMI.
And remember,
Be careful out there!
www.pumpsanddumps.com!
How did you get this?
Precisely. The net income is smoke and mirrors. A sham by the PnDers.
Who's bashing? I didn't make up the 10-Q. the company did.