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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: * Thumper * who wrote (3838)	1/30/1999 8:42:00 AM
From: Wayne Rumball	Respond to of 11130

Yet another good reason to get out as fast as possible

To: * Thumper * who wrote (3838)	1/30/1999 9:43:00 AM
From: Tom Allinder	Read Replies (1) \| Respond to of 11130

The scams on these stocks have been public knowledge for several days or weeks now. There are plenty of scam artists right here on SI. Fortunately, I know who most of them are.... Known scam artists on SI include several MMs, a number of brokers, A large number of small company insiders. There are also several groups of scammers here on SI who have large amounts of money. They quietly buy up large amounts of a stock trading usually at less than a dollar, sometimes less than a penny then "initiate coverage" on the stock. They come up with all kinds of wonderful prospects on these companies. There was one case last year when I checked out one of these companies... It took me all day to find where the company was via phone. I finally got someone on the line. He was the CEO, Treasurer, secretary and janitor. He was very honest. He had never heard of any of these products or prospects that the "newsletter" had described. Nor did he know anyone associated with this "newsletter". He was a one man company with no business. At one time he had a business and employees. His company was on the NASDAQ and traded as high as $8 at one point. Yet this "group" had initiated coverage on the stock. The stock went from .001 to .05 before tanking. It's easy enough to do the math, someone with only $1000 to "invest" could make at lot of money... The OTCBB is a murky underworld... If you trade exclusively on the OTCBB, you better be a professional or be extremely well connected. Tom