Archive for the ‘Stock Obituaries’ Category
The Pump And Dump Blues: Nothing Compares 2 U, In Loving Memory Of Cannon Exploration Inc (CNEX)
I’m sorry to have to announce the passing of Cannon Exploration Inc. (CNEX), a beautiful and vivacious pump and dump, who at the height of her popularity, was taken from us prematurely, like so many of our brave soldiers around the world
Beautiful CNEX, I know that living with you was sometimes hard, but I composed this wholly original song and even made a music video (even though the singer got the words wrong) in your honor.
It’s been seven hours and five dollars
Since you took your pump away
I research every hour and wait all day
Since you took your pump away
Since you been gone I can write about whatever I want
I can trade any stock I choose
I can look for stocks that are breaking out
But nothing
I said nothing can take away these pump and dump blues
`Cause no pump compares
No pump compares to you
Obituaries: CYGT aka The Stock That Killed My Hedge Fund
Today, Cygnus (CYGT), a long-time Ticketmaster-wanna-be, lost their long-time battle against bankruptcy. They had been struggling ever since their first brush back in early 2006, barely clinging to life as if their leader was Terri Schiavo, but today, they finally succumbed to Chapter 11, the most common ailment among penny stocks.
The company, founded in 2001, is best known for their role in bringing down my hedge fund, Cilantro Fund Partners, LP—accounting for a roughly 35% loss—and causing me endless grief from the joke that is “the financial community”.
As detailed in my book An American Hedge Fund, in mid-2004, after nearly six years of uninterrupted six-figure annual profits, my ego and real world inexperience—aided by a top notch presentation delivered by the then CFO, a family friend—led me to invest 10% of my fund in this privately-held company.
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May 15, 2008Yup, by next Monday, everything's gonna be real working-like!
May 15, 2008PDO, up $4+ today, will teach you not to randomly short strong penny stocks, get in, get out then run...cuz sometimes they squeeze stubborn shorts to death!
May 15, 2008No ideal short plays today, check out these 2 interviews while we wait for price action perfection
I wish I'd listened to my own rulebook, instead got squeezed for $400 shorting blatant-fraud KYUS too early...someone needs a refresher course this weekend!
I nailed NCOC's 20% rise today in my pre-market post, but I was too biased against buying little breakouts, learn from my mistakes!
May 15, 2008Lots and lots of new sketchy stocks to watch
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