African Copper Corporation (ACCS): Victory Mark Corp Scam

By | June 21, 2013

Why You Should Never Buy Penny Stocks!!!!!!!!!!!!!!!!!!!!

Yesterday was a very interesting day in "Pump World". Victory Mark Corp released their pick as promised and that was at 09:30am EST as promised. Stock opened at about 14.5c and I was tempted to buy. In fact I placed several orders that didn't get filled. I cancelled all my orders at about 09:34am EST. And as always, after 09:35 on any pump it gets too risky to buy and you are likely to buy the top and then forced to "average down". "Average Down" is a very risky thing to do as a trader. I would strongly discourage this. Get out immediately!!!

They say a picture says a thousand words, well look at this....

ACCS - Day 1 of Pump 20 June 2013

And just when everyone is looking at it bouncing today Friday 21 June, Victory Mark Corp sends out an email basicallyΒ  admitting defeat.

email reads....

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Hi Everyone,

This is the hardest email we have ever written, but we could not just go quiet after what we all witnessed today. We have never seen one of our alerts fall apart like this and we will work our asses off to make sure that we never do again.

It makes it even harder that we truly love the company, African Copper Corporation, and feel that it has real potential. But after the aggressive short selling and trading nonsense we witnessed today we have no idea what lies ahead for the stock.

Those of you that have been with us for the long haul know that we will make this up to everybody and that we will expend a lot of resources to figure out exactly what went wrong here. The bottom line is this pick does not represent who we are and we will prove it to all of you again and again if you stick with us.

There is no rest after this and we are already hard at work figuring out our next step. Until then please know that our team truly values our subscribers and that we are working day and night to make the next pick a huge winner for everybody.

Sincerely,

PreferredPennyStocks.com


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Victory Mark Corp LTD, 4 Lords Bank, Ladyville Belize City, Belize

This email clearly suggests Victory Mark Corp Ltd is not sure how the pick will trade. If you are a trader with some brains, this would clearly be screaming DON'T TRADE ME unless you are GOD and know what is going to happen πŸ™‚

To me this pump was doomed from the very start as it already had some action last month. Several speculators got burned recently on 7 May 2013. 7million shares traded that day with a high of $1.00 and low of $0.07. ACCS closed at 10cents that day and then gapped the next day at 14c which was actually the day high. It went downhill from there on! A low of 7cents and then closing at 11cents. Trading this pump on the long side is simply begging for disaster! The only winners on this stock will be the promoters, insiders and Short Sellers like me πŸ™‚

ACCS - ChartACCS reminds me of BOPT. Very similar in many aspects. See chart here. BOPT was alerted at 2pm on 11 April 2013 but the run up never lasted long. Very many got burned here including myself! Then many others thought it would be a wise move to buy the bounce the next day and boy it turned really ugly! Trading on BOPT was actually suspended thereafter and when trading resumed the bloodbath continued.

BOPT DisasterAnyhow for those wondering why ACCS and BOPT have a lot in common. Well, there is one other catalyst that killed both pumps on Day 1. The so called "Public Saviour" George Sharp. This guy has recently filled law suits against major promoters and the effect on the stocks has been felt by the very people George Sharp claims he is "saving from these scams". I personally think George Sharp's tweets are not helping vulnerable amateur investors who buy into these scams. In any case, he has now created a "Niche Strategy" for Market Makers and Short Sellers who sell heavily after his Tweets on upcoming PR on law suits. I actually banked about $800 on the GROC scam he threatened to expose.

What does all this mean? Is George Sharp's plan working? Are major promoters going to be defeated at their own game? First it was Stock Market Authority (SMA) - BOPT, then Awesome Penny Stocks (APS) - XUII and now Victory Mark Corp Ltd (VMC) - ACCS. Who is next?.....One can only conclude that going Long on any Penny Stock pick is as good as buying loto unless ofcourse you know what you are doing. The safe bet would be Short Selling any promoted Penny Stock and that goes for ACCS.

Happy Trading πŸ™‚

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