Really Hot http://www.reallyhot.org Fri, 27 Jul 2007 22:33:51 +0000 http://wordpress.org/?v=2.1.1 en Sick of The Penny Stock email Scam? Take Action! http://www.reallyhot.org/sick-of-the-penny-stock-email-take-action/ http://www.reallyhot.org/sick-of-the-penny-stock-email-take-action/#comments Thu, 15 Mar 2007 15:24:20 +0000 ReallyHot http://www.reallyhot.org/sick-of-the-penny-stock-email-take-action/ Having spent a good number of years as a trader in the markets for a “lesser than reputable firm” , I am VERY familiar with how these scams work.

A firm that has market making capability (or access to big chunks of stock cheap) buys a bunch of a particular stock (QXYZ). They then promote the heck out of it (via email or other means). As suckers start to buy it, the price goes up and the market maker “unloads” his inventory!

THIS IS ILLEGAL — PERIOD!

You CAN help stop this… forward every one of these stock scam emails to
enforcement@sec.gov

Come on… get on the boat here

(the Securities and Exchange Commission)

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