True to form, the Sunpeaks Ventures (OTCBB:SNPK) penny stock promotion did exactly what it was supposed to do… dump!
Once a bright and shining star of pumpville, SNPK collapsed today absorbing hard earned cash from unsuspecting investors pockets in true Madoff fashion.
From its high of $2.40 to its low of $.65 SNPK fell a massive 73% destroying portfolios along the way. My email inbox is full of questions so I decided to do one blog post to cover it all.
First, this was one of the strongest promotions I’ve seen in a while. It dumped 58% back on March 16th, recovered a few weeks later only to dump 49% on March 30th and recovered again. The promoters did the job they were paid to do and many made hundreds of thousands off this predictable pattern.
I played SNPK back on March 8th and 9th and never touched it since. My total profit was about $10,000 and yes, I had hundreds of thousands of shares in the $.40’s but know better than to overstay my welcome on stocks like this.
Enough about that though, let’s move onto more important topics like is this one over?
Unfortunately, for the unsuspecting investor, I believe SNPK’s life cycle is over. This black hole will probably absorb cash from bag holders accounts just like POWT, AMWI, RAYS and NSRS.
Sure, there’s a chance SNPK makes a recovery but I don’t think it will and I’m right more than I am wrong.Trust me, this isn’t my first rodeo in this neck of the woods.
It will be very hard for SNPK to recover now and to be quite honest, it’s simply easier for more lucrative for the promoters to move on to a new pick.
Don’t believe me? Check out some of their old promotions I’ve written about below, how about the charts below that, look familiar?
The NSRS Stock Promotion Is Ending, Here’s How I Know
Raystream (RAYS) Stock; A Predictable Dump After The Blatant Pump
The AMWI Stock Dump Caught Live And On Demand From JasonBondPicks – this video will make you sick
Is POWT A Scam? BestDamnPennyStocks Promotion Crushes Subscribers
This is the harsh reality of trading penny stocks.
If you’re one of the thousands who honestly believed SNPK was going to $9, like the promoters suggested, I hate to break it to you but you’ve been ignorant of some basic facts and should sign up for my service immediately so you can avoid getting stuck in messes like this. I’ll teach you how I was in on day one and how I’ll probably be in on day one when they launch their next pick, which I believe will be soon.
Some of you probably think I’m wrong still so let me make something very clear, SNPK is only up because it’s being promoted by the strongest stock promotion team on Wall Street! The price action has been manipulated in what is called a pump and dump. If I have not provided enough evidence then maybe the charts below will clarify what I mean by this.
Now let me go on record, I have nothing against stock promotion. To be quite honest, I love trading volatile picks like this but it’s not for the beginners. I say this so many times I feel like a broken record but I teach people how to profit from such blatant manipulation. You can bet my subscribers knew better than to buy and hold SNPK at this point in the game.
So if you lost big on SNPK don’t beat yourself up but make sure you use this is a good lesson to not let it happen again. This subscriber found me after losing $100,000 in the SFIO scam, we all make mistakes and now he’s doing quite nicely as a part of my team.
The same stock promoters recent pick…
And the one before that…
After seeing the last 2 days growth, i have to respectfully say you are wrong. SNPK is still alive and kicking. Several times today we watched buy orders in the millions go thru- if anything this is the time to hop on for a ride
Im holding on to snpk, we havent seen enough volume to account for our promoters selling off, they arent out yet
In Agreement, my guess is they fluffed up LOL, one of our heavy hitters set off the stampede to soon!! Now they will be pushing back up =). Money to b made
John, I hope you enjoyed the ride. The man who writes this article is worth trusting. Anytime you find yourself in disagreement with him…Take your money out and wait 4 days, you will be in agreement by then. Good luck!
Even if this is a punp and dump, they are still promoting this stock, im thinking they still suspect life
Buy buy buy BUY BuY Buy buy!!!!!!
John, Tom, Franky, G….if you are even four different people with those names; you are obviously either part of the promo-machine of SNPK or some of the dumbass bagholders that get caught in the PnDs.
I traded this twice, and made nice returns. I never came back for the third wave…and on these promos, after the fourth wave, it is over….done deal, no matter how many times you post here with fake names and lame responses with no technical backing….just “opinion”.
These come in waves and the promoters always use OTC stocks so traders cant use auto stop losses…basically, the average Joe gets caught holding the bag while at work, watching the kids, etc.
You CAN make money off these PnDs, but you need to pick entry and exits carefully, and if you have a margin account, then you most certainly should be shorting these, especially along the third or fourth wave.
If you don’t know what I am talking about, you shouldn’t be “investing” in PnDs…or wait…nevermind…please do…afterall, I need someone to pay my rent and bills =)
I agree with the author, the cycle is done. It took me one PnD on a stock called INDR to learn about expert analysts newsletters being promotions. Like the author I know to get in on day one and short it, just wish I knew when day one was. I always get these promotions just after first wave is over and second wave looks unstable. I got the SNPK letter when it was at 1.65 which is too much for me to gamble on a next wave so i ignored it. Although there was more room for profit, it didn’t outweigh loss potential
I have 15,000 shares that I brought at $2.27. I don’t know what to do at this point The stock was recomended to me and I went ahead at listen to him an brought at the highest point. Should I sell and lick my wounds or hold to see if it will come back.
Hi Tom, how did you make out? I can’t tell you what to do but in these situations I set boundaries and I try to stick to them. Keep in touch. J.
When you miss the boat, don’t swim after it. Wait for the next one!
I’ve been trying to boost my retirement by playing penny stock & have been doing pretty well. Unfortunately I purchased SNPK @ $120 & was hoping to make a bundle. I wasn’t able to check my investments because I’ve been very busy with a sick mother-im-law & when I was able to check I almost had a stroke. I have lost over %50 in my brockerage link & I’m just sick over it. Constant anxiety. What do I do now? Watch it bottom out or sell what I have? Any advise?
Sorry can’t advise, trust me a lot of people are down on this one, not just you. These promo stocks are not for beginners or someone who can’t watch their position… I hope you sign up and I’ll teach you more. J.
Darin – SNPK is still getting pumped. Watch it shoot up in the first hour Monday 4/30, then dip, then go up again. Sell at one of those peaks. You won’t get it all back, but I think it goes up to $1 maybe $1.05 in the first hour then levels out and won’t move again. Good luck.
Suggestion…If you can’t follow penny stocks daily (maybe hourly) do NOT touch them!
Lost over $100K on this stock on 04/18/2012. Do you have any idea if we can sue those companies that SNPK sued for defamation? If so, please send me an email.
Correction: SNPK
@TOM rule #1 to hold on to our portoflio money. Never buy stocks with large amounts of your money off of hear say or he say she say.
Study the chart yourself. If it makes sense buy it. If it doesn’t dont.
I love SPNK. Actually found out about it the day it dropped over 200% from some moron pumping it on a msg board, saying PR fuels stocks, literally 10 minutes before it dropped. He was clueless like a crapload of others.
I had to school him on the art of what really fuels stocks. Moving averages. Which are easy as hell to see on a chart if you read them with technical analysis.Since I schooled the guy on moving averages fueling stocks, not PR ,(thats why it fell back to its normal average price 200% points later), I then told him, yea the stock was worth getting in now (after the huge drop), because it was now fueled by a dropping moving average that will rise. Since then I got in and out of the stock 2 different times and made $7000 off it. Just gotta know how to read a chart and see the oversold spots to get in and the overbought ones to know when to get out. That goes for any stock. No matter what PR goes out it. The moving averge will bring it back down or fly it back up (which ever way it went)
Charts never lie. Trading’s easy money if you use them with brains and common sense. But it’s definitely not for you if you have to take advice from nobodys and hear say. that’s called gambling or “playing” whatever people with no common sesne have to call it, because they don’t have what it takes to read a chart.
I never gamble with my money. I stay in the green. Takes10 secs to read a chart to see when a stock will definitely go up or down. Sucks if you don’t.
How many days do you use in your chart for penny stocks? I watch them closely but lost 14 g on lexg
During a two hour dental procedure. Any help will be greatly appreciated
LJ
I watch minute by minute when playing pumps like LEXG.
do you think it might get back to say .60 or .70 in it’s up and downs? what price will it finally level out at, between .35 and .55?
Certainly seems reasonable.
I got hit bad on this one. My husband’s fault. LOL
Well….I bought in, like so many others. With Clotamin getting a promotional deal with a major University, will SNPK ever bounce back? I’ve lost a good bit, hoping to atleast break even!
It’s hard to say Eric but they’re done pumping it. Trust me I know the feeling having just got stung on RARS myself.
I think you’re right Jason. I’ve been wondering about penny stocks but decided to watch the action first. These promoters systematically pump and dump these stocks. Looks like a big joke to me but I also think you could make $ if you beat them to the dump. Might check out you letter. Thanks for calling them out and confirming my suspicions.
what do you guys thing of it now will it go up? or its done
Probably done.
wow thanks
i have in at .18 do you thing i should wait it out or it will never reach it back there?
That I can’t say my friend, can only alert my trades to subscribers, not advise on customers portfolios.
do you think this stock will go up again?