I would like to know more about the doubling stocks that was on stock gumshoe. I have signed up and mainly because it was on stock gumshoe and I didn't see any negative remarks. However they say they are only accepting so many new people, with 14 slots left, then they send anpother email, stating the new pic is coming out and i will miss it if i don't subscribe. This is almost the same as lots of other sites. I would like to know should I subscribe to this or did i miss something on stock gumshoe?
I think it is a pump and dump scam. I subscribed and watched "Michael's" (if that is his real name) picks using "MARL" (aka the stock robot) for several weeks. I noticed several fishy things. One was that there always seemed to be an outlier large volume purchase of shares within about a week's time before his announcements, which he always publishes after market close. He must have a pretty hefty subscriber base because the opening price the next day was always significantly higher than the previous close (like $0.10 on a $0.50 stock). I think he picks up a few 100K shares, pumps the stock to his subscribers, and then dumps his shares to his subscribers. In almost every case the stock comes back down to its original level after a few weeks. I got my money back by complaining through clickbank.
WELL I THINK WE GET THE PICTURE. HOW CAN THEY GET AWAY WITH THIS? WOULD THE SEC ALLOW THEM TO BUY UP STOCK, AND THEN DUMP IT KNOWING FOR SURE THEIR READERS WOULD BE THE ONES BUYING? IS THAT RACKETEERING? HOW ABOUT CONFLICT OF INTEREST? DOES THE DISCLAIMER COVER THIS PRACTICE? DO ANY OF YOU HAVE BIF? IT PAYS MONTHLY DIVIDENDS, AND GOOD ONES TOO. SHOULD I BE WARY BECAUSE OF THE HOUSING DROPS? I THINK BIF IS MORE COMMERCIAL. ALL YOU PEOPLE HERE HAVE BEEN VERY HELPFUL SINCE I HAVE JOINED, AND I WANT TO TAKE THIS TIME TO SAY THANK YOU. MERRY CHRISTMAS AND HAPPY NEW YEARS.
Just to let everyone know, I have gotten dozens of complaints from readers about DoublingStocks -- I was trying to have an open mind when I wrote about them last month, but I had a bad taste in my mouth about them at the time, and it has only gotten worse. It seems the folks who actually gave them money are generally quite unhappy -- check out the continuing comments on the writeup I did at http://www.stockgumshoe.com/2007/11/doubling-stocks-marl-magical-robot.html , they keep flowing in and are almost all very negative.
The more I hear from readers, the more it sounds like it's being used as a plain old pumping scam, whether to actually "pump and dump" or just to make their service seem like it's working and fleece subscribers. So, in response to some requests, I did actually (finally) figure out how to block their ads from being sent to my sites by Google. Not sure it will work that well, since they have a network of other affiliate sites that they also use to push the same service, but at least we'll hopefully see fewer ads on StockGumshoe.com for DoublingStocks with that ridiculous cartoon robot.
I didn't block those ads lightly, by the way, I believe in free enterprise and believe people should be able to advertise their services, and I've not seen that this service has been actually proven to be a fraud (in which case Google would probably dump them anyway). And I suppose it's possible that blocking them may have had some incremental negative impact on my pocketbook, though probably a tiny one.
I'm not capable of screening all advertisers to make sure they're legit or personally palatable, even if I wanted to, though I'll continue to reserve the right to block them if I find them to be nearly universally reviled or discredited. I have never felt the need to block another advertiser -- which should tell you something about my opinion of DoublingStocks.
(LOL) I have to say, if your letting an internet web site robot pick your trades then one might put a big green "take my money" sign on their wallet! Thanks for speaking up SG.
Correction the company is powerstocktrades.com--They report they cover all stocks in the U.S. and Canadian markets, from penny stocks to stocks trading over $100.00 per share--Does this mean a recommendation would not severly influence the price of the stock and thus not buy and dump company as doublingstocks.com--Any info would much appreciated...Thanks