North Springs Resources Corp. (OTCBB:NSRS) is a stock promotion which means when the advertising stops, the bids disappear, so far pretty straight forward. Today the shares trading closed up again and totaled over $55 Million in stock traded.
The pump and dump started on Tuesday December 27th, 2011 and in the legal disclaimer from the promoters they disclose being compensated $600,000 for a 1 month profile advertisement on NSRS stock.
Image #1 below taken from the PennyPic email.
Given that today’s Tuesday February 7th, 2012 I’d say you’d be smart to be watching close for the crash just like their last promotion Raystream Inc. (OTCBB:RAYS).
Don’t believe me? They said RAYS might be the next LEXG too laugh out loud.
RAYS chart look familiar to NSRS? Scary stuff right, especially if you didn’t know these details I’m teaching you. See image #1
OTCMarkets.com has now flagged NSRS with the dreaded skull and crossbones listing which says and I quote: “Buyer Beware: There is a public interest concern associated with the company, which may include a spam campaign, questionable stock promotion, known investigation of fraudulent activity committed by the company or insiders, regulatory suspensions, or disruptive corporate actions.” See image #2
Technically NSRS stock is extremely overbought and even if technical analysis doesn’t apply to pump and dumps like NSRS, it’s saturated with greedy buyers hoping for the next LEXG when odds are all they’ll get is a dump like RAYS or ever worse, AMWI. Here’s my video of AMWI dumping on the market live (Takes 30 seconds to load, big file) and trust me, it’s gut wrenching lose your savings and the house material. See image #3
In summary, if you play with fire you’re going to get burned. Stocks like these are for skilled traders only and not investors. NSRS stock might not dump this week, but when it dumps they’ll be very few bidders and a lot of sad bag holders. Again, want to believe there’s a pot of gold at the end of the rainbow, check their last pick RAYS below. See image #4
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