While TIMalert subscribers and I (and especially PennyStocking DVD students since my instructional DVD packages teach people not only how to spot pump & dumps, what websites and data to use to research them, their characteristics and chart patterns and how I’ve made millions buying and short selling them, yes, while people may rip on me, it’s mostly just stock promoter errand boys because when the dust settles, I’m still the #1 ranked trader out of 30,000+ traders on Covestor so I will brag and link to my educational products again and again because they’re quality and I’m real and fear/like no one in this industry full of cowards and frauds) have been reaping nice sized rewards trading these penny stock pump & dumps, $40,000+ yesterday short selling Genova Biotherapeutics, Inc. (GVBP) and making 35% in one day a few weeks ago on Spongetech Delivery Systems, Inc. (SPNGE), but today there are 2 huuuuuge pieces of news on which to report:
1. After the last NY Post on Spongetech featuring yours truly, the reporter has dug deeper and quotes the company’s former attorney who says Spongetech forged documents and stole his identity to write hundreds of opinion letters (attorney letters are needed in order to get restricted shares to become unsrestricted, aka saleable aka that’s what pump & dumps are about, getting the stock up as high as possible and selling as much stock as possible to unsuspecting suckers!) Read the latest NY Post article:
The accusations of forgery and “identity theft” come from Norfolk, Conn. attorney Joel Pensley, who said in a letter to the Securities and Exchange Commission that he was “dumbfounded” to learn that his name was being used in “as many as one hundred opinion letters for various shareholders.”
Abato said that after learning about the documents, their firm, Pensley & Abato, sent a cease-and-desist letter to SpongeTech. She said SpongeTech CFO Steve Moskowitz claimed the company had authority to use the law firm’s name in the legal documents, but agreed to stop.
(Doh!)
2. As I’ve written about in a series of blog posts, Genova goes to the extreme in their blatant fraud…the latest: the email on their website investorrelations@genovabio.com bounces, try calling their phone number 1 646-845-1920 and nobody answers and they mistakenly used an obsolete penny stock’s company name “NextGen” (which I’ve written about how they’ve passed off Nextgen’s worthless patents as their own not to mention recycling, word for word, old Nextgen press releases, seriously, it’s tooooo funny) in the terms on their website:
Genova Biotherapeutics Inc “GENova” has taken all reasonable care in producing and publishing the information contained on this web site, and we will strive to do so frequently in the future. Material on this site may still contain technical or other inaccuracies, omissions, or typographical errors, for which NextGen assumes no responsibility. NextGen does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site…
(Doh!)
Many TIMalert subscribers are very happy with their outsized gains and all my detailed research, but, get this, I’ve had over two dozen people cancel in the last few days–their excuses being: why focus so much on one stock, my crappy broker doesn’t let me short sell stocks under $5 (I use and reccomend Thinkorswim & Interactive Brokers, no time to trade (you can now auto-trade my account), blah blah blah, excuses excuses excuses.
When you find true “gimmes” in the stock market, you put aside everything else and try to make as money as you can…that’s what I’ve always done and that’s why I became a millionaire before the age of 22 and more recently, that’s why my account is up 480% in the past 2 years, no BS, plain and simple.
Since these stocks have dropped 75%+ off their highs the past few days (fully predictable as I not only profited, but revealed these companies as pump & dumps before the big drops), it’s probably too late to make the big $ (yet people still buy these stocks, each are still $75+ million companies), but read through my dozens of blog posts below (and of course check out my required, not optional, instructional DVD packages…and there’s still time to signup for the live webcast of my upcoming conference (the actual Vegas conference is fully sold out!) so you can learnnnnnnn for the next time and trust me, the SEC is so lazy and people are so gullible, there will most assuredly be a next time…and TIMalert subscribers and I will be all over it…and if it happens after early October, we’ll track it through a whole new website PennyStocking.com!)
-SPNG list of paid stock promoters
-GVBP’s hilarious story of travel turned cancer cure company with $35,000 in the bank
-GVBP’s “partner” denying partnership 100%
-GVBP using recycled press releases
-GVBP issuing embarrassing Friday night press release
-GVBP’s largest shareholder selling millions of shares
-GVBP’s partners have the same address!
Disclosure: I have no position in SPNG, but I’m still short a measly 3,000 shares of GVBP at 27 cents/share just for fun because I truly believe the stock to be worth 0-5 cents/share or the SEC will halt them for their detestable manipulation.
Tags: Basics, Manipulation
