The Best Source for Penny Stock Insight
Not much today, just a quick scalp of TSLA short, although I would have done much better holding on.
Shorted 200 TSLA @ 27.096 and covered at 26.654 at SogoElite.
Daily profit: $88.40
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Daily profit: $662.19
09:28:15 NTMG B 0.51 2500 ARCA
09:28:15 NTMG B 0.51 2500 ARCA
09:30:50 NTMG S 0.545 500 NITE
09:30:50 NTMG S 0.545 2000 NITE
09:31:16 NTMG S 0.5349 2500 NITE
SLD 2,700 NTMG false Stock 0.545 USD SMART 09:30:49 7.36 null
+ SLD 2,700 NTMG false Stock .545 USD SMART 09:30:50 7.36 null
SLD 2,700 NTMG false Stock 0.520 USD SMART 09:31:18 7.02 null
+ SLD 10,000 MINE false Stock .041 USD SMART 09:32:38 2.03 null
BOT 2,700 NTMG false Stock 0.505 USD SMART 09:32:39 6.82 null
BOT 2,700 NTMG false Stock 0.450 USD SMART 09:34:43 6.08 null
BOT 2,700 NTMG false Stock 0.449 USD SMART 09:38:06 6.06 null
BOT 10,000 MINE false Stock 0.0387 USD SMART 09:38:54 1.94 null
SLD 5,000 VIDA false Stock 0.1600 USD SMART 09:42:37 4.00 null
SLD 5,000 VIDA false Stock 0.1639 USD SMART 09:44:27 4.10 null
BOT 5,000 VIDA false Stock 0.1601 USD SMART 09:46:14 4.00 null
BOT 5,000 VIDA false Stock 0.1601 USD SMART 09:48:14 4.00 null
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Below is the full text of the SEC press release (see also the Quebec securities regulators’ press release in French):
SEC Charges Two Canadians With Fraudulently Touting Penny Stocks on a Website, Facebook and Twitter
FOR IMMEDIATE RELEASE
2010-114Washington, D.C., June 29, 2010 — The Securities and Exchange Commission announced today that it has obtained an emergency asset freeze against a Canadian couple who fraudulently touted penny stocks through their website, Facebook and Twitter. The SEC also charged two companies the couple control and obtained an asset freeze against them.
According to the SEC’s complaint, the defendants profited by selling penny stocks at or around the same time that they were touting them on www.pennystockchaser.com. The website invites investors to sign up for daily stock alerts through email, text messages, Facebook and Twitter.
The SEC alleges that since at least April 2009, Carol McKeown and Daniel F. Ryan, a couple residing in Montreal, Canada, have touted U.S. microcap companies. According to the SEC’s complaint, McKeown and Ryan received millions of shares of touted companies through their two corporations, defendants Downshire Capital Inc., and Meadow Vista Financial Corp., as compensation for their touting. McKeown and Ryan sold the shares on the open market while PennyStockChaser simultaneously predicted massive price increases for the issuers, a practice known as “scalping.”
“As alleged in our complaint, McKeown and Ryan used all the modern methods to communicate with investors including the PennyStockChaser website, e-mail, text messages, Facebook, and Twitter yet failed to adequately communicate that their rosy predictions for touted stocks were accompanied by their sales of those very same stocks.” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.
The SEC’s complaint, filed in the U.S. District Court for the Southern District of Florida, also alleges McKeown, Ryan and one of their corporations failed to disclose the full amount of the compensation they received for touting stocks on PennyStockChaser. The SEC alleges that McKeown, Ryan and their corporations have realized at least $2.4 million in sales proceeds from their scalping scheme.
The SEC’s complaint charges McKeown, Ryan, Downshire Capital Inc. and Meadow Vista Financial Corp. with violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The SEC’s complaint also charges McKeown, Ryan and Meadow Vista Financial Corp. with violating Section 17(b) of the Securities Act of 1933. In addition to the emergency relief already granted by the U.S. District Court the Commission also seeks a preliminary injunction and permanent injunction, along with disgorgement of ill-gotten gains plus prejudgment interest and the imposition of a financial penalty, penny stock bars against the individuals and the repatriation of assets to the United States.
In the course of its investigation, the SEC worked with the Quebec Autorité des marchés financiers (AMF), which was also investigating this matter. As a result of both ongoing investigations, the AMF obtained an emergency order freezing assets and a cease trade order against McKeown, Ryan, Downshire Capital Inc. and Meadow Vista Financial Corp. The SEC appreciates the collaboration with the AMF.
The SEC’s case was investigated by Michael L. Riedlinger, Timothy J. Galdencio and Eric R. Busto of the Miami Regional Office. The SEC’s litigation effort will be led by Christine Nestor, Amie R. Berlin and Robert K. Levenson. The SEC’s investigation is continuing.
# # #
For more information regarding this enforcement action, contact:
Eric I. Bustillo
Regional Director, SEC’s Miami Regional Office
(305) 982-6300Glenn S. Gordon
Associate Regional Director, SEC’s Miami Regional Office
(305) 982-6300
Disclosure: No connection to PennyStockChaser. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
MINE was a poor trade on my part; I should have gotten in bigger, earlier, and stayed in longer; or at least done one of those three.
Daily profit: $276.28
+ BOT 50,000 MINE false Stock .032 USD ARCAEDGE 08:34:34 12.59 null
SLD 100 HUSA false Stock 12.00 USD ISLAND 08:57:11 1.00 null
BOT 100 HUSA false Stock 11.50 USD ARCA 09:00:00 1.00 null
SLD 50,000 MINE false Stock 0.0365 USD SMART 09:31:07 9.12 null
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Daily profit: $628.88
15:07:33 VYOG S 4.125 500 NITE
15:03:32 VYOG B 4.05 500 NITE
+ BOT 19,333 HELI false Stock .125 USD SMART 10:04:07 12.08 null IB
+ BOT 8,480 HELI false Stock .130 USD SMART 12:59:46 5.51 null IB
+ BOT 20,667 HELI false Stock .135 USD SMART 13:03:12 13.92 null IB
BOT 11,520 HELI false Stock 0.1350 USD SMART 13:04:09 7.78 null IB
BOT 20,000 HELI false Stock 0.1350 USD SMART 13:05:47 13.50 null IB
BOT 4,500 AMEL false Stock 0.8511 USD SMART 15:04:01 19.15 null IB
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
I will have a video and more details tomorrow afternoon. Due to moving (all moved, time for unpacking and cleaning) I am not able to do a video tonight.
09:33:42 BSOM S 0.0791 10000 NITE
09:31:48 BSOM B 0.074 10000 VERT
BOT 16,000 HELI false Stock 0.0900 USD ARCAEDGE 08:03:12 11.52 null IB
BOT 10,000 HELI false Stock 0.1081 USD ARCAEDGE 09:38:39 5.40 null IB
+ BOT 3,000 AMEL false Stock .860 USD SMART 09:38:42 12.90 null IB
BOT 10,000 HELI false Stock 0.1086 USD SMART 10:03:14 5.43 null IB
BOT 2,500 AMEL false Stock 0.8601 USD SMART 12:00:37 10.75 null IB
Daily profit: $1,565.79
Disclosure: Short 4,500 shares of AMEL and 80,000 shares of HELI. No positions in any other stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Root canal today, moving tomorrow … I’ll recap HELI over the weekend with some video. I am short HELI with an average of $0.13713.
HELI was an easy short call right at the open:
[Jun 23, 2010 9:29:31 AM EDT] Reaper fyi, I’ll be hitting HELI short hard out of gate … not a play unless u have a huge account though
I don’t often make predictions about price action, but my call on HELI was spot on (HELI was at .127 when I wrote this):
[Jun 23, 2010 12:57:42 PM EDT] Reaper HELI still boring sideways action … imo it does nothing until late day and then a tank to nlods, probably closing around .1183
Everything below .11 on HELI was just one huge block trade, trade-through. The bid was never lower than $0.11.
+ SLD 30,000 HELI false Stock .140 USD ARCAEDGE 09:32:28 21.01 null
+ SLD 20,000 HELI false Stock .139 USD SMART 09:32:34 13.90 null
SLD 20,000 HELI false Stock 0.1399 USD SMART 09:32:42 13.99 null
+ SLD 20,000 HELI false Stock .136 USD ARCAEDGE 09:33:14 13.56 null
SLD 6,000 HELI false Stock 0.1355 USD ARCAEDGE 09:33:40 4.06 null
SLD 20,000 HELI false Stock 0.1341 USD SMART 09:36:30 13.41 null
+ SLD 1,500 AMEL false Stock .970 USD SMART 09:53:57 7.28 null
SLD 2,500 AMEL false Stock 0.9699 USD SMART 09:58:08 12.12 null
Daily profit: $0
Disclosure: Short 10,000 shares of AMEL and 116,000 shares of HELI. No positions in any other stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Not much to say. ULU was a non-compensated Beacon/StockPreacher pump of an Amex stock.
+ SLD 2,500 AMEL false Stock .891 USD ARCAEDGE 09:23:26 13.20 null
+ SLD 10,000 ULU false Stock .120 USD ARCA 10:05:15 5.98 null
+ BOT 10,000 ULU false Stock .129 USD ARCA 10:08:42 6.60 null
SLD 1,000 AMEL false Stock 0.9500 USD SMART 13:17:06 4.75 null
Daily profit: ($106.58)
Disclosure: Short 6000 AMEL. No positions in any other stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
My one big regret from today was missing CLWRR short. Evidently it is a warrant that was expiring today (for CLWR). It dropped 89% today. There were at least 95,000 shares to short of this all day at IB and 300,000 before 2pm EST.
+ SLD 10,000 AMCG false Stock .110 USD SMART 11:26:21 5.50 null
+ SLD 2,500 AMEL false Stock .836 USD SMART 14:22:18 10.45 null
+ BOT 10,000 AMCG false Stock .107 USD SMART 15:24:44 5.82 null
My trades at Speedtrader are not shown (I am having trouble logging in right now).
Daily profit: ($47.21)
Disclosure: Short 2500 AMEL. No positions in any other stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Not much happened today. I just made a few tiny bad trades on CWLZ.
Daily profit: ($134.40)
Weekly profit: (85.11)
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.