Hello John,
You will notice that all penny stocks have "interesting charts." You may also notice a pattern of spiking just in time for some major selling by certain individuals. I have always wondered if there is some collaboration between market makers and penny stock gurus when a stock mysteriously rises just before a reverse split announcement or some major insider selling. GWTR had an amazing run, like a seven-fold multiple, and then... surprise! Reverse split. Huge blocks of stock were being sold into all the buying while GWTR was making it's run. And the message boards were merciless with out-and-out hype. As always, anyone that tried to post their reservations were run off the board with the usual name calling, bullying and intimidation tatics so typical of these crazy message boards. I will never cease to be amazed at the funky bunky crap that goes on with these penny companies. I'm more than amazed that penny politics and manipulation are even legal. I have a list of penny's that I have followed and about 99.99% of them are about 95% off of their "pump and dump" price. Things that make you wanna go... hmmmm.
Just when you think, oh hey, maybe I'll give this or that company a whirl and bottom fish at the low, they'll announce dilution or a reverse split or even more typically, bankruptcy. I'll stick to stocks with earnings growth, promising technologies and C.D.s. Iomega, symbol IOM has had several good quarters in a row, and is turning out promising new products. It might be one to take a look at. HUGE huge float, though. It takes alot of buying to move it.
Good luck,
Cindy |
