I just can’t help but notice Pump ‘n Dump (PND) email spam schemes when they arrive in the inbox. It’s hard to believe this stuff is legal, but it can still offer some entertainment value. A couple years ago, one of the more entertaining PND schemes gave us a nice tower formation for a company brewed by a Bob Marley family member, no less.
Last week, the following words of encouragement arrived in the inbox:
“Yesterday at market close (4pm EST) I sent you my brand new pick.
My pick is: SPEX
It’s a NASDAQ with a super low float.
They just transitioned from a shell to a patent litigation play.
Patent litigation is a super hot sector right now.
But the real reason I picked SPEX is because it has a super low float and is in the middle of a short squeeze.
In the past two weeks SPEX blasted from 7 to 27.
It’s now back at 12.
But since I’m sending this email to 400,000 – It might not be there for much longer.
— John Bell”
As a token of our appreciation to Mr. Bell, the daily chart above shows some potential targets. Trade safely my friends. Based on the previous price discovery behavior of JAMN, we can guess where SPEX is headed next.
Originally published at www.tradeflight.com.