Well I have a little story to tell. I work in Las Vegas as a dealer and met a player this week. He had some cash and was play 500-2000 a hand. He was pouring drinks down like there was no tomorrow. We chatted a bit and I asked him what he does for a living. He told me he buys stock in small companys and runs them up. Pretty blunt if you ask me. I asked him how do you know they are gonna go up and he replied, "we make them" . Well he caught my attention and was winning a bit and was tipping pretty good. Next tip came around and I asked him for some ticker symbols. He listed them off and I wrote them down and he gave a 3 week time to sell them. I took them home and looked them up since I never heard of them before and couldn't find any info on them. So now I am thinking this guy is a pump and dump and I am buying into his selling. Next day I look and they are up about 20% each on very low volume. I said WTF and went for it. Bought 500 shares each of the 3 companies. First day I was down about 20% and thought I got the shaft. Had the sick feeling all day at work but oh well, in the back of my mind I knew it was coming. Well the next 3 days 2 of them climbed 30% per day on very low volume. I didn't know what to think. I mean the stock is up .75 on 8500 shares. (3 cheap stocks) One of the stocks on monday was 2.34 when he recommended it to me and said it was going over 8. I sold it at 4.10. I couldn't believe it. I got out early cause of my doubt. So question is how much of this is going on in the market. I can't say this guy is just lucky and gave me winning trade that made me over 50% in 3 days. I am happy I made money of course and part of me is still skeptical and think the stocks are going down but I just can't get over the gains and how this guy was telling me. To sum up our conversation at the end he was like this is as close to a sure thing you can get in the market. He even told me if I don't make money to give him a call and he will buy my shares back. Didn't put much faith into that comment but he did supply me with his number right after. Well needless to say he lost about 15k and I got 2000 in tips and 3 nice winners in my account. Gotta love Vegas ........ Good luck to all
Well I wasn't gonna give them but I will give one. Keep in mind that I am out of the position. CDGT .... Good luck if you trade it to 8 Keep me posted if you do
Sure it is ... it's the same as a professional Roulette player selling you his system for only $5000.00. Even a mook can get lucky and give you a good call in the right market. Sorry but even though manipulation does happen it's very rare and very short lived for those doing it !
a mook that gave me 2 50% winners in 3 days. Hmmm doesn't sound like a mook to me and I don't see too many 1k bettors on a roulette wheel explaining how he keeps winning either. This guy has to know something. You should have seen the look on his friends face when he told me the symbols. All of them had the look like, why did he just tell this guy. Not sure how to explain it and i did think it was a scam at first but tonight is Sushi night for the wife and I thanks to him
i must get 5 flyers in the mail a week about some bb stock that is the next 10000% gainer. those guys buy crap companies and promote them and dump. could of been one of those guys.
A few guys I used to work with when I was a broker left the business to become stock promoters. There aren't a lot of ethics involved, but when they get hot they can often have 3 or 4 winners in a row. It all comes down to how much volume they can generate before their selling overwhelms the demand. The last one I was tipped off on was DBRM back in February, moved from .2 to 1, and then right back down.
it can be done on a smaller scale. i know guys who buy small stocks and go to yhoo with a few different screen names and try to get the hype going and move the stock. sometimes it works. there are a couple pumpers right here on elite that i see on a several boards pumping small crap.