I don't know what the cause of this drop is, but I have a feeling it will climb back to 2 dollars based on how SNPK had been promoted this past week.
SNPK - Sunpeaks Ventures Inc - Page 2
my goodness, all of you posting aside from Philo are new on this forum. I am no pro, but i do have some experience. i URGE you not to just simply hold and hope it will go back up to 2. this is not GMCR, or NFLX, this is a pump and dump stock. If you are holding since 2.2, realistically you will never see that level again. do you really want to hold for an unlimited amount of time so that it will go back up? do you think there are no better trades out there than that? I think we will see new lows tomorrow, what will you do then, keep holding? it is best to sell as soon as things stop going your way, and get back in when they are going the right way. I have learned this the hard way.
yes, this most likely is a pump and dump. I've been burned by those. If it's been going up for a few days, you know it will go down eventually very soon. I usually won't get in a penny stock if it's been going up for a few days, cause I could very well buy at the "top" and my luck it will go down right after that. Yes as most post on here that it's very hard to know when to get out if your getting gains and not to be greedy. My two cents.
I am guessing it will go up but I dont recommend anyone trading it. If you do trade, please be happy with 10 to 20% profits max. Dont be greedy on this one.
It will go down to 0.40 with in next 2 to 4 weeks. It would likely see a bounce today because insiders hold majority of the shares and whatever floating around wiht outsiders seem to have exchanged hands yesterday on that big drop. Unless, insiders decide to dump at this price level, there may not be too much supply coming, which makes it easier for the insiders to pump it so that they can dump again at a much higher level.
you should NEVER hold and hope. its ok to hope for an opportunity and then enter, but it is not smart to be in a trade and simply hope for the best. If you do just want to hold and hope, you should have a set sell price just in case. i know is hard to cope with these kinds of fast losses, just look for a better trade than holding this. i think we will break yesterday's lows today.
Nice 25% gain so far but hard to see when the dump would come. I hope they will let this thing run to previous level or higher, which is possible.
The guys behind this one of much more sophisticated scam technicians. They already milked from first round of dump. They control most of the volume, so it is possible to make it pump much higher before dumping again.
Again, while it is possible that this can even go to 2.0, I dont recommend the risk because they can chose to dump at any time again.
So far, it looks like insiders decided to support this one, which makes sense. If there are no sellers, why dump and take it down further. I think they may try to make it pass 1.5 in the coming days with slow daily gains like before. It does not mean I am advocating anyone to buy. Just my thought process. I still recommend staying away from it.
Looks like they are trying for next leg up here from 1.07 level, hopefully it break 1.20 this time and goes for 1.50
Edited by Philosuffer - 4/19/12 at 11:54am