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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX) -- Ignore unavailable to you. Want to Upgrade?

To: Leslie Tack who wrote (2761)	4/24/1999 5:33:00 PM
From: out_of_the_loop	Read Replies (1) \| Respond to of 3129

Who these people are I do not any more than by reading their handles here. There were reports on Raging Bull of Conte and/or relatives using posting handles pumping the stock there, but I cannot confirm them - they are heresay. Based on my bad experiences with bulletin board stocks, and GNNX as a prime example, most of the pumpers will buy gradually at low prices then increase their position as they advertise what a great company this is, then pump, then get out while the volume is still going up. Their only motive is to make money off people who do not do very careful dd. Follow their posts and see how many stock threads they have posted on and how many stocks they have described. Go back as far as you can then look at the charts of those stocks. Ask yourself Do many have a " /\ " in the graph? There is your ultimate answer. Gee, what "news" happened last week? People who tell you something is going up next Tuesday or Wednesday are either giving you inside info or are telling you indirectly that is when they and their colleagues are going to give their last big pump into a stock. They won't tell you, however, that is also the day they are planning on dumping. Why don't you go back to this thread a couple of weeks ago and ask the people who were pumping here what specific news were they expecting or what specifically was their TA about this "company's chart" (I am using both terms in quotes very loosely) that told them this was supposed to go up last Wednesday? I mentioned Tom's e-mail list because I thought he certainly had investigated this company thoroughly and selflessly shared his dd. I am grateful for that and thus felt compelled to vouch for his credibility. I actually do not like posting on this thread but if it makes someone do more careful dd than I did when I first started investing, then it's worth it. Nobody has answered the really good questions about the accounting practices, the old contract discrepancies (euphemism), and how the management at present is any different than the management from last year. Good luck.