This stock was touted several years ago by Scott Frasier(check him out on the Net) as the best oil play ever!!! Well, I didn't buy at 2.00 a share--last year around this time I accumulated 30,000 shares between Apr 8 to April 13 in the .18 to .22 cents range> Now guess when I sold them all?!?
"This stock was touted several years ago by Scott Frasier"
Yeah he is the worst of the worst. He just touts every junior oil company and once in a while he gets lucky, but most of the companies Scott Frasier touts go belly up. Like Fox Petroleum - he said that could be one of his biggest profit opportunities ever - at $4 a share. It is now around 7 cents and WAY overpriced at THAT level because they have over 20 million in debt due by September, and they have lost ALL of their assets to secured creditors and no longer have any means of generating revenue, which, by the way, they have generated ZERO revenue in their history.
That is the kind of company Scott Frasier sometimes pumps. So NEVER buy based on his recommendations, 9 times out of 10 you will lose.
I do believe that JYHW will be successful. The stock price got way ahead of itself, so this is just a normal correction back to its true current value. I don't know where the bottom will be, but I am searching for it and will probably buy back in when I think that point has been reached.
Based on current momentum, I don't think it is at bottom yet.
I did--I sold out twice in mid Feb around 1.68-1.72. There's money to be made in these pump and dumps--there about 10 I follow. As soon as I get an e-mail from pennystock etc. I check out the action, buy on the euphoria and try to get out with about 20 to 30% gain. I've been pretty successful over the last 5-6 years. Ain't getting real rich but if I can turn $3,000 to $4,500+ in less than 5 days...I can live with that. JYHW has been my best pigeon tho.