Powrtec (OTCBB:POWT) stock was crushed Friday down 70% just 1 day after a massive pump started, what a scam. What’s even more sad is the email I received from the pump author Sunday evening.
I have to laugh when I see the stock promoter blame the third party for dumping shares when that’s exactly what the stock promoter was hired to absorb. This weekend the author of BestDamnPennyStocks had the courage to tell subscribers that short selling their horrible picks are ‘criminal’ lol. In the famous words for George Strait, if you believe that I’ll sell you some ocean front property in Arizona.
Goodness I can’t summarize this stuff you need to read the email for yourself.
This was emailed to me by BestDamnPennyStocks on Sunday January 9th, 2012 after Friday’s massive tank of POWT…
“I Am Furious. After pondering all weekend and cooling down I came to a few conclusions on what exactly happened on Friday with POWT. First thing right off the jump in the morning the short sellers attacked us notoriously! It is borderline criminal what they can get away with. Remember you see what happens when they leave things alone as evidence of our last pick that soared 1700%! That was because of the combination of the end of the month and all the scum bags away for the holidays more on that in a bit. Second thing that happened is when it tanked a third party shareholder thought it would be nice to dilute a little..which is why it never had a bounce. Of course everything I say above could be completely wrong but It is my strong opinion.”
Now I’ve written about a lot of sketchy stock promotions like Raystream (OTCBB:RAYS), Mistral Ventures (PINK:MILV) and even recorded the entire Amwest Imaging (OTCBB:AMWI) dump live so I could teach unsuspecting and naive traders how this game really works. This 1-hour video could save you or a family member from being fleeced of hard earned money.
Some people love trading stock promotions and to be quite honest I have no problem with them and will game promotions for a quick score like I did on MILV and NSRS recently. They can lead to quick cash if you know what you’re doing but are only for experienced traders. Unfortunately they attract the most inexperienced traders and like sitting down next to Johnny Chan at a Vegas Texas Hold Em table you will not survive the week.
Note part of the legal disclaimer from the same BestDamnPennyStocks email above…
“BestDamnPennyStocks expects to be compensated $500,000 Cash from a non controlling 3rd party for a POWT Investor Relations Service.”
Now ask yourself, where does that cash come from? The author admits the third party who is paying $500,000 cash “thought it would be nice to dilute a little, which is why it never had a bounce.”
ARE YOU KIDDING ME – THIS IS WHAT THE AUTHOR CONSIDERS DILUTING ‘A LITTLE‘?! I’d hate to see what they consider a lot!
So if you’re reading this still it might be because you got fleeced by this scam. My advice is sign up for JasonBondPicks and I’ll not only teach you navigate these shark invested waters. One thing is for certain, BestDamnPennyStocks might want to start going by WorstDamnPennyStocks moving forward because a burn like this will certainly send their readers searching for articles like the one I’m typing here.
If you’re new to trading this video illustrates how I operate and to me it seems a bit more calculated then chasing these bad stocks. Questions email jason@jasonbondpicks.com
I was new to penny stocks and I also am Canadian. I have to make my trade for US stocks by phone. I had bought AMWI stock at .35 and as it went up so fast decided to put a buy in for .95 but didn’t think I would get it. If I had known about pump and dump I would have never bought more on the way down. I left the computer and when my husband came in he said that we got the stock at .95. Then we say what had happened and had no way of selling it fast enough. Then we bought some more at .175 hoping it would go up enough just to get our money back. Do you think AMWI will go up in 2012 from .05 that it is trading today.
Hi Diane and thanks for writing. Stocks like that generally move when there is marketing behind them so I can’t answer your question because I honestly don’t know. What I’ve found works for me when I’m in the whole is to take charge of the trade. Put a bottom on it and stick to it and do the same topside. Whichever comes first determines the end of the trades. I’ve found as soon as I make goals like that it gives me control over the situation again. That would really apply to any trade. Feel free to email me with more questions at jason@jasonbondpicks.com and best of luck.
hi jason. POWT stock selling eased down dramatically now. Do you think this bounce next week?
Well that stock promotion was hammered. Hard to say if it’ll get promoted again.