Penny players would be well advised to be aware of the continuing Pump & Dump campaign on Chancery Resources (CCRY), a scheme first promoted on January 2nd by Odd Marketing's newsletters, Penny Stock Crew and Stock Publisher. In spite of touts' trumpeting of over 100% gains on CCRY that day, the fact is that 68.53% of the volume and 398 of the 592 trades were at prices higher than the close of $.0091, which in itself was 52% off the day's high. As insiders were selling stock throughout the day, it is not hard to imagine that almost every retail buyer of stock that day, took a hit. Adding insult to injury, the stock has dropped another 36% since Odd Marketing's ill-fated promotion. Those expecting to recoup losses will be up against additional insider selling. We can't imagine that CCRY's share price will come anywhere near it's previous highs and expect that it will even struggle to regain last Wednesday's close.
Date
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January 2, 2013
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Symbol
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CCRY
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Open Price
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.007
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Close Price
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.0091
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Intra-Day Change
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.0021
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Intra-Day Percentage Change
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30.00%
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Number of Trades
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592
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Number of Trades Above Closing Price
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398
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Today's % Losing Trades
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67.23%
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Volume
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22,678,418
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Volume Above Closing Price
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15,542,651
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Today's % Losing Volume
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68.53%
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Volume ($1,000s)
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228
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High Trade
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.019
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Number of Trades/Volume At High
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1/40,000
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Low Trade
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.0069
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Number of Trades/Volume At Low
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1/250,000
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Common Shares Outstanding
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352,250,000
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Market Cap (Not Fully Diluted)
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$3,205,475
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Do you like this analysis? If so, you'll be glad to know that we will soon be providing it for all stocks promoted in an after-the-close Pump & Dump recap report we call "The Nightly". Your comments are welcome.
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