July 16, 2013 (click on symbols) : If ever a stock was unfit for tradiing, it's FITX , being pushed today already for the 5th time in 2013. Not only does this stock go nowhere, but the vast majority of traders are treated to chunky losses on each day this definitive Pump & Dump has been promoted, save one. Adding insult to injury, dilution is ongoing at the ridiculous rate of 138% in 2013 alone, and that is not taking into account April's inexplicable 1.2 for 1 forward stock split, which the company had initially attempted to disguise as a reward to shareholders by ways of calling it a dividend. The number of shares outstanding now stands at 1,769,117,614, an increase of 430,444,420 shares just in the last quarter. You can bet that all that new stock will be looking for a new home during this Pump & Dump campaign.
Following yesterday's somewhat successful start to the newest ETEK Pump & Dump campaign, at least 39 additional touts have been called on to pimp shares in what is emblematic of a Spike and Crash, where Inboxes are inundated by emails from every newsletter with a pulse, pimping the shares to generate as much one time interest as possible. These Spikees and Crashes usually end up with relentless dumping, catching those without a wary eye on the quote screen, holding the bag. Considering that March's Pump & Dump campaign on these shares created way more losing buys than winning ones, we see no reason why today's heavy pimping won't end up with just such a result.
XUII spent the past two months stutter-stepping its way back towards the May highs and may have reached a psychological wall, now that it is almost there.
We figure buyers to be thinning out and unless Awesome Penny Stocks continues its deceptive ways with its usual wash trades and phony big bids, we could see enormous profit taking hastened by APS' bid whacking. Experienced traders know, that it only takes minutes for the share price of an APS promotion to get cut in half and whether it will be today, tomorrow or next week, we are not far away from that. This promotion does not have long to go as XUII will have to release financials in the coming couple of weeks and if they follow the form of past APS promotions, the numbers will not be able to justify anything close to even half of the current market cap of the company.
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