Given how Profitly members have made $170,000+ on the low float monster ROSG (and my trading challenge students did exceptionally well a few weeks back given my 2 buy alerts at $8 and $10.29 just 24 hours before the stock surged to $23 and we banked $50,000+ despite pretty much all of us selling too early), now that its been consolidating slowly, it’s been on my watchlist nearly every day as a potential buy.
(This pattern is a Supernova, which I detail extensively in my PennyStocking and PennyStocking Part Deux DVDs, contact my team here for specials on these study guides)
On 6/11 I even pulled the trigger again buying $100,000+ worth at $11.15ish, aiming for a HUGE breakout…I profited a bit as you can see here, but as you can see from the chart below, ROSG really only spiked to $17+ a few days later:
So while I was right in my thinking, I was off in my timing, a common occurrence when trading real companies which is why the millions of dollars I’ve made over the years come from trading penny stock scams which are far more predictable…just as I preach in these 7 free video lessons
I’m not here to brag about my solid buy alerts and faaaaar too early sells), I want to bring your attention to just how bad financial journalists can be, just as I pointed out how CNBC mistakenly used a stock promoter’s research to hype up a pump and dump, and so did TheStreet.com…in fact, I have an entire category on this blog dedicated to exposing shitty financial journalists (which has made me quite popular with them! Nottttt)
But the single WORST example of financial journalism now belongs to Val Brickates Kennedy who on June 18, 2012 wrote THIS short article for Marketwatch entitled “Rosetta climbs on board appointment”
She says:
BOSTON (MarketWatch) — Shares of Rosetta Genomics Ltd. ROSG shot up nearly 30% to $12.12 on Monday after the tiny biotech firm announced it has named Johnson & Johnson veteran Roy Davis to its board. Davis was most recently president of J&J’s venture capital group, where he was responsible for seeking out deals with companies engaged in research areas outside of J&J’s current business sectors. Davis retired from J&J in January
It’s true Roy Davis joined ROSG’s board as confirmed by this press release, but the press release is from June 6, 2012, nearly 2 weeks before ROSG’s spike that Lazy Val is writing about.
Look at a daily chart of ROSG and see how many days passed between the news of that board appointment and ROSG’s spike to see how utterly absurd Val’s article is relating the spike to that 2-week-old-news and why Val should be bitchslapped for her laziness/misinformation:
Val made the lazy mistake of looking at ROSG’s latest press release, which was from 12 days prior to the stock spike, and attributing the spike to that press release, not realizing that news was old and the spike was likely caused by a short squeeze, just as I had been telling subscribers of my 4 newsletters for weeks.
Val’s mistaken Marketwatch article probably helped squeeze ROSG’s shorts even more as momentum buyers were led to believe there was new news on this stock and ROSG climbed all the way to $17+ in 2 days.
The cool thing is that no matter my warning/whining, these kinds of market inefficiencies created by misinformation spouted by terrible journalists will happen time and again and it’s why it’s SO great to be a penny stock trader to profit from it.ROSG and its sister company GENE turned out to be great shorts from the spike that Val helped inflate just like when CNBC and TheStreet.com spouted misinformation on 2 pump and dumps, allowing for great short opportunities.
This is what Val looks like:
Please do bitchslap her if you see her to help her and other financial journalists understand that her laziness and misinformation will not be tolerated anymore.
On a similar note, one of my trading challenge students sent me this MESSED UP video about terrible Chinese journalists since it was highlighted HERE with the title “Chinese News Confuses Fleshlight For A New Mushroom”
Call me naive but I didn’t even know what a “Fleshlight” was, but now thanks to Wikipedia I’ve learned it’s a sex toy which makes this video even more laugh-outloud hilarioussssssss
Posted in Basics, Financial Media Circus, Videos
