May I please have another!
Posted on November 29, 2012 by Editor
The stock market is the greatest History lesson anyone can learn from, and if you follow the heard you will always get slaughtered.
How many times will people buy companies that are so bad they will never amount to anything, in the hopes of scalping a profit from a novice (sucker?)
You have to remember when you are trading, especially basically worthless companies, every professional trader is trading the same patterns, only the novice and dumb traders are following anything else!
The new www.awesomepennystocks.com play went up the first day and closed around .30 cents on huge volume of 126,793,533 shares and just over $30million in dollar volume the first day! Up just over 200%
Click for larger view
But…
As I said only a handful of people got any stock below .20 cents a share, so most people are only up a very little bit 20-30% still good right? Wrong!
The volume had already surged before they announced the pick, and when the emails went out announcing the pick, the stock did not SURGE up, which means everyone already knew the play and the emails are worthless
www.awesomepennystocks.com has other sites they are constantly advertising on, and maybe they will release the pick onto those sites to help support the stock while they get a direct mail piece ready, but I am a dollar volume trader.
When you see the dollar volume drop off like it did today from yesterday, you can see that it traded 1/3 the dollar volume at a little over 9.8million today from the 30mill number yesterday, and the trades today were smaller with only3.740 trades today vs. 6,360 yesterday. This indicates that the stock has leveled off and the market makers who are short have been shorting more at this price, perched here waiting for the avalanche of retail sellers who will see this stock go down!
Lower dollar volume and lower trade’s means one thing, level out and then fall for the stock; I’ve seen this pattern over and over again.
click for larger image
Have not seen support step into this yet, and maybe if it does drop to the .20’s it becomes a short buy again as lots of people will average down.
When you buy the stock of a company located in another country with over 300million shares out, that has no money and cannot keep their web site up www.superiorventurecorp.com , You have to know what you are buying. This company has such a bad story I am not sure anyone would buy the hard mailer if they did one! Update: The site is back up wooohooo! They should sell some stock to keep the site up and lights on!
Possibly a trade in the .20’s for me, otherwise toxic
OTCMarkets.com earlier yesterday listed SVEN as Caveat Emptor
News 
Market Data 
Discover 
