I intended to paper trade today to give me five days straight of trading, but it snowed. So the wife and kid were home because everything was shutdown, the internet connection was down for awhile, it took several hours to clear the driveway, and I had several projects to complete before I can start vacation. I really don’t have any work to do until January 5th. But the kid’s daycare is closed next week and my wife has to work – and then there’s lots of family stuff, but I hope to get some time to focus on improving my trading skills and knowledge.
To be fair as I have been critical in the past of Beacon Equity, they sent out an alert this week that nearly tripled over the last three days. They emailed this on Wednesday at 10:48am:
“If you thought that Americans were the only ones with a passion for gaming you would be in for a big surprise. The fact is gaming’s popularity is EXPLODING around the world with much of the growth being seen in the emerging markets of Asia. Our latest stock idea—Elixir Gaming Technologies (EGT) is well positioned to benefit from this secular trend.”
If you had bought 10K shares at .10 cents for a $1,000 stake, this would be near $3,000 at close today. This is on over 3 million share volume. I have no idea about the fundamentals of this company, but it didn’t fall as quick as past Pump-Watch stocks. While I’m skeptical that this stock can sustain this price expansion, this one had a legitimate run up that could of been played.
The other Equity pumps posted about earlier are not faring as well:
JSDA: Started at .40 cents, peaked at .56 some 36 hours later, closed at .38 today on 200K shares today.
WPTE: Started around .50ish, peaked at .70ish only 15 minutes later, closed at .44 today on 150K volume.
We will see where ETG ends up as well.
