True to form, the Sunpeaks Ventures (OTCBB:SNPK) penny stock promotion did exactly what it was supposed to do… dump!
Once a bright and shining star of pumpville, SNPK collapsed today absorbing hard earned cash from unsuspecting investors pockets in true Madoff fashion.
From its high of $2.40 to its low of $.65 SNPK fell a massive 73% destroying portfolios along the way. My email inbox is full of questions so I decided to do one blog post to cover it all.
First, this was one of the strongest promotions I’ve seen in a while. It dumped 58% back on March 16th, recovered a few weeks later only to dump 49% on March 30th and recovered again. The promoters did the job they were paid to do and many made hundreds of thousands off this predictable pattern.
I played SNPK back on March 8th and 9th and never touched it since. My total profit was about $10,000 and yes, I had hundreds of thousands of shares in the $.40′s but know better than to overstay my welcome on stocks like this.
Enough about that though, let’s move onto more important topics like is this one over?
Unfortunately, for the unsuspecting investor, I believe SNPK’s life cycle is over. This black hole will probably absorb cash from bag holders accounts just like POWT, AMWI, RAYS and NSRS.
Sure, there’s a chance SNPK makes a recovery but I don’t think it will and I’m right more than I am wrong.Trust me, this isn’t my first rodeo in this neck of the woods.
It will be very hard for SNPK to recover now and to be quite honest, it’s simply easier for more lucrative for the promoters to move on to a new pick.
Don’t believe me? Check out some of their old promotions I’ve written about below, how about the charts below that, look familiar?
The AMWI Stock Dump Caught Live And On Demand From JasonBondPicks – this video will make you sick
This is the harsh reality of trading penny stocks.
If you’re one of the thousands who honestly believed SNPK was going to $9, like the promoters suggested, I hate to break it to you but you’ve been ignorant of some basic facts and should sign up for my service immediately so you can avoid getting stuck in messes like this. I’ll teach you how I was in on day one and how I’ll probably be in on day one when they launch their next pick, which I believe will be soon.
Some of you probably think I’m wrong still so let me make something very clear, SNPK is only up because it’s being promoted by the strongest stock promotion team on Wall Street! The price action has been manipulated in what is called a pump and dump. If I have not provided enough evidence then maybe the charts below will clarify what I mean by this.
Now let me go on record, I have nothing against stock promotion. To be quite honest, I love trading volatile picks like this but it’s not for the beginners. I say this so many times I feel like a broken record but I teach people how to profit from such blatant manipulation. You can bet my subscribers knew better than to buy and hold SNPK at this point in the game.
So if you lost big on SNPK don’t beat yourself up but make sure you use this is a good lesson to not let it happen again. This subscriber found me after losing $100,000 in the SFIO scam, we all make mistakes and now he’s doing quite nicely as a part of my team.