The Best Source for Penny Stock Insight
No comments, just beautiful charts. Please let me know if I’m missing any big ones. I included all the biggest pumps and most of the smaller to medium pumps.
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SPNG – Wasn’t promoted since last summer, but it finally saw its executives arrested.
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.
See my previous post calling Emergent Health “the next pump.” Tim Sykes also wrote about Emergent Health.
Evidently the SEC agreed with Sykes and myself as they have sued individuals involved in an alleged scheme to pump and dump Emergent Health and another company, Cardiovascular Sciences. Following is the SEC’s litigtation release; see legal complaint (pdf) for more details.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21513 / May 4, 2010
Securities and Exchange Commission v. Seven Palm Investments, LLC, et al., Civil Action No. 1:10-cv-02755 (N.D. Ill.) (May 4, 2010)
The Securities and Exchange Commission filed a civil action today in the United States District Court for the Northern District of Illinois against Naperville, Illinois based Seven Palm Investments, LLC and its principal Peter P. Veugeler, together with Orlando, Florida based Cardiovascular Sciences, Inc., and Lawrence H. Hooper, Jr. of Oviedo, Florida, for antifraud and registration violations.According to the SEC’s complaint, from at least October 2007 through September 2009, Veugeler reaped a total of more than $8 million from the pump and dumps of two unrelated companies, Cardiovascular Sciences and Emergent Health Corp. The SEC alleges that Veugeler, through his company Seven Palm, promised financing to both companies in exchange for nearly all their purportedly unrestricted shares. Veugeler, among other things, entered manipulative trades in both companies’ stock, allowing Seven Palm to sell its stock holdings in both companies at artificially inflated prices.
The SEC’s complaint further alleges that Cardiovascular Sciences and Hooper, Cardiovascular Sciences’s president and CEO, disseminated false and misleading press releases and other correspondence to investors between October 2007 and February 2008. The complaint also alleges that Veugeler reviewed and discussed with Hooper a number of the false press releases and directed him to work with a third-party stock promoter to issue the press releases to the public.
According to the SEC’s complaint, Veugeler engaged in manipulative practices aimed at misleading the market to increase and maintain artificially high prices so Veugeler could resell Seven Palm’s Cardiovascular and Emergent holdings for substantial gains.
The SEC’s complaint further alleges that Veugeler devised a Cardiovascular promotional campaign to facilitate Seven Palm’s liquidation of its Cardiovascular shares and that many of the Defendants’ public misrepresentations and omissions concerned Seven Palm providing funding to Cardiovascular. The complaint alleges that public statements regarding Seven Palm providing funding to Cardiovascular were misleading because at the time they were made, Seven Palm had not provided any funding to Cardiovascular.
As alleged in the SEC’s complaint, the defendants violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks a judgment against all defendants providing for injunctions, and civil money penalties. The complaint also seeks disgorgement of ill-gotten gains with prejudgment interest against Seven Palm, Veugeler, and Cardiovascular Sciences, and penny stock bars against Veugeler and Hooper.
Here is the stock chart of Emergent Health:
Here is the stock of Cardiovascular Sciences:
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.
See the video for my review of Speedtrader after using it for a few weeks. Much thanks to Nate of the InvestorsUnderground stock chat for urging me to try SpeedTrader and helping me to set it up.
Disclosure: Short 10,000 BLUG. No positions in any other stock mentioned. I am an affiliate of InvestorsUnderground and Speedtrader. 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.
Here I show the charts of pumps from February and January. See if you notice a pattern. I bought most of these and shorted a few of these. When pump & dumps inevitably dump they drop fast, which is why I always say that buying pumps is very risky. So please, unless you are a trained professional, do not try to buy pumps … the short selling (when shares are available) is far easier.
BGEM – Was a re-pump in February that I bought. The December pump was even better (that is usually the case with re-pumps).
ECOB – I made $7,000 shorting this in January. I should have held my position longer.
ISPI – Weak pump. If you buy it you have to sell quick!
MDCE – Nice pump that Timothy Sykes nailed from the short side on the day it collapsed. I made a bunch on the long side.
NXTH – I shorted around $3.10 and covered around $2.60. Oops. I still made a couple thousand dollars.
PEPR – The pump was nice in percentage terms but it never got very high. I still made some money.
RCYT – Weak pump. I still made some money buying it.
WKLI – The latest pump, not bad and I made some money buying it. The dump has only just begun.
Disclosure: No positions in any stock 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.
A reader asked me this question in an email. I suggest checking out Tim Sykes’ trades, the CXO Advisory Group’s post on Tim Sykes and my trading profit page to see details of what I discuss in the video. For comparison to the returns discussed in the video, at this point my weighted average profit margin in 2010 is 1.81% for my Sykes-type trades and 1.80% for my Sykes-type trades where I follow a TimAlert.
Disclosure: No positions in any stock mentioned. I am a TimAlerts lifetime subscriber and have other relationships with Tim Sykes, which are discussed in my terms of use; you can find all my disclaimers and disclosures there as well; my full terms of use is incorporated by reference into this post.
Horrible trading on my part with NXTH but I still did okay. I love penny stock trading! See the video for more. Also check out a special edition of Tim Sykes’ Livestock tonight from 6pm to 7pm EST.
Daily profit: $2677.44
Intra-day chart:
Disclosure: No positions in any stock mentioned. This blog has a terms of use and you can find all my disclaimers and disclosures there as well; my full terms of use is incorporated by reference into this post.
After pre-ordering it two months ago and receiving it two weeks ago, I finally finished watching Tim Sykes’ Learn Level 2 DVD and here is my review.
Conclusion: This is a pretty decent trading DVD but there is not nearly enough video of Level 2 in action. As someone who has plenty of experience trading and trading using Tim Sykes’ strategies, I did not want another DVD of Sykes explaining how he trades. I wanted a DVD of him showing how he uses level 2. So most of the approximately 5 hours of video was needless repetition for me. For someone looking to learn Sykes’ strategy I would recommend Pennystocking Part Deux or TimFundamentals Part Deux (I own both). I could only recommend this to someone who has no experience with level 2 and little understanding of technical analysis who may have purchased TimFundamentals or TimFundamentals Part Deux (the two of Sykes’ DVDs that delve least into technical analysis).
Pros
Cons
Disc 1: Intro to Tim Sykes and then definitions and level 2 basics.
Disc 2: Looking at a few different stocks on live level 2 but also a lot of intra-day and multi-day charts. This was mostly done in front of a green screen.
Disc 3: Some random stuff about trading stocks, some level 2, Tim trading IFNY (an OTC BB stock) and showing its level 2. Half of this disc came from one of Tim’s weekly Livestock shows. Unfortunately Tim spends some time answering random viewer questions (not related to Level 2) during that segment. 75% of this DVD is green greened, 25% is screencast with Sykes in a little video box.
Disc 4: The first part of this disc does not have level 2 info, just stock charts, with Tim talking about fairly basic technical analysis and technical trading strategies he uses. I like this part, but he should have waited until the right time to record level 2 video to support his various patterns like the “cliff dive.” I do like that this disc is screen captured.
A Gratuitous Level 2 Screencast (recorded by me with little commentary)
Disclosure: No positions in any stock mentioned. I am an affiliate of Tim Sykes and earn a commission if anyone purchases his products through my links. I purchased the Level 2 DVD from Tim Sykes and I own many of Sykes’ DVDs and have certain business relationships with him. See my terms of use for full details about my business relationships with Timothy Sykes. This blog has a terms of use and you can find all my disclaimers and disclosures there as well; my full terms of use is incorporated by reference into this post.
One trade today, a short of AMFI … I would’ve played it bigger and held on longer but I am just finishing up my SEC Filing DVD. You probably only have a few days to a week left to order it at special pre-order pricing.
For more information on Canopy Financial and Jeremy Blackburn, check out this SEC litigation release.
Daily profit: $102.00
Disclosure: No positions in anything mentioned in this post. My health savings account is a creditor of Canopy Financial and potentially of AMCORE Financial and Shawnee Administrative Services. This blog has a terms of use and you can find all my disclaimers there as well; my full terms of use is incorporated by reference into this post.
I have updated my disclosures and disclaimers, which is now upgraded to a terms of use. Please read it: http://www.reapertrades.com/terms-of-use/
I suggest reading the amusing exchange between Tim Sykes and The Lionmaster about EONC today. Here are Lionmaster’s first comment and Sykes’ first reply.
+ BOT 3,000 SNSS false Stock 1.850 USD DRCTEDGE 08:09:08 15.00
+ BOT 3,000 SNSS false Stock 1.670 USD ARCA 09:38:29 15.00
+ SLD 10,000 EONC false Stock 3.179 USD SMART 11:36:09 50.00
+ BOT 10,000 EONC false Stock 3.130 USD DRCTEDGE 11:37:42 50.00
Daily profit: $22.00
Disclosure: No positions in anything mentioned in this post. This blog has a terms of use and you can find all my disclaimers there as well; my full terms of use is incorporated by reference into this post.
I had plenty of trades today, all but one of them in SNSS.
Daily profit: ($479.00)
Weekly profit: $388.14
SNSS 1-day chart
SNSS 2-day chart
Trades at IB:
+ BOT 4,700 SNSS false Stock 1.487 USD ARCA 09:29:48 23.50
+ SLD 4,700 SNSS false Stock 1.494 USD ARCA 09:30:56 23.50
+ BOT 4,000 SNSS false Stock 1.550 USD ARCA 09:32:34 20.00
+ SLD 4,000 SNSS false Stock 1.500 USD SMART 09:33:22 20.00
+ BOT 4,000 SNSS false Stock 1.570 USD ARCA 10:01:23 20.00
+ SLD 4,000 SNSS false Stock 1.611 USD BATS 10:03:18 20.00
+ BOT 3,000 SNSS false Stock 2.020 USD SMART 10:45:22 15.00
+ SLD 3,000 SNSS false Stock 1.957 USD SMART 10:46:21 15.00
BOT 2,500 JYHW false Stock 0.6400 USD SMART 15:48:24 8.00
Disclosure: Long 2500 shares of JYHW. No positions in anything else mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.