Call me a cynic but smells like a con to me. Some of you pm for the phone number, you will probably get it.
If the guy has the resources to defend the stocks after he accumulates them, I think its probably legit what he is doing. However, I am a bit skeptical that one would want to share what he is doing with a total stranger. I seriously believe that this is one of those strategies that alot of the smaller to medium sized funds have resorted to in this otherwise choppy, spikey go nowhere kind of market. With all the scanners out there these days picking up on stocks with "x volume and y percentage change" its a good probability that a large percentage of his picks will get some attention and some buying as he is selling out.
Google First Jersey Securites Robert Brennan to see how a master of the pump and dump did it back in the 80s. Brennan who at one time was considered one of New Jersey's best citizens, is I think still serving time for his role in a improper bankruptcy filing although most observers felt the conviction was due to his role in the pump and dump scheme as prosecutors could not find a chargeable criminal offense in his complex stock frauds. DS
Exactly what I was thinking The great thing is jrlvnv probably made up the whole story just to pump his stock to $8. If he is telling the truth, then I hope he enjoyed his sushi
Here's the short answer. If you have been watching the markets for more than a week, looked at charts of the past, and haven't figured out that a significant % of price movement is manufactured, then , well, stick to easy games like poker. Or maybe condo flipping.
Why you guys so hostile toward the poster? Look at the chart of the stock he mentioned, the pump already happened and it did go to 8. It's a pump & dump, the less legal kind. His story is very believable and he obviously met an expert boiler room operator. Look at GOOG, there is the big boy pump & dump. Besides that, most of the US equity market is just an ongoing pump & dump scheme. Upgrades/downgrades, window dressing, Jim Cramer, CNBC and so on. Look at all the NYSE issues that were so hyped up by the media, analysts and hedge fund just to collapse. FMD, DRL, KKD, it never ends. Watch, GAP is gonna be next.
yep - you got it. the whole of 1990's internet thang woz 1 big p&d. btw (earlier q), why wouldnt a long want to spread the news. its in his interest to tell everyone his tickers - bell hops, waitress, croupier, shoe shine boy, lawyer, doctor, etc. tell the world! - some will buy and help the cause.
Related to organized crime and I can safely assume stocks you are referring to are all OTCs. During the dot com days these same types were involved in "death spiral financing" schemes.