Guys, the pump and dump telegram admin banned me today after my 1st post in the group
Most members in the group have no idea how trading works. Feel bad for them. Today's OZZ pump worked exactly like A8G.
Today we've got more evidence on the fact that these guys accumulate before they announce it on the channel.
They announced a "pre-pump" in which only VIPs receive a DM before the the crowd. Members started believing my point now.
The pre-pump did exist. They dump right into the bids of their members. The funny thing is that they make their announcements seconds after the final pump has started. That move is usually huge. By the time people type the code and place a bid, it will be near top. When they post the chart they calculate the gains from 10.15(pretending that the pump started at 10.15.00)
I am surprised that no one could see why they demand market orders only.
I suspect they will let the members make some money now and then so that they can keep them for a long period of time. But eventually the longer they stay the more they'll lose. Some will give up trading.
I don't think that the members deserve to make any money. Just exposing the facts, so that new investors will stay away.
If you're a holder of the stock you should read the following:
When stocks are pumped like this, so many day traders become involuntary long term holders. This leads to heavy supply at those levels, which affects the performance of the stock. Now the stock has to spend a lot of time moving sideways and often moving lower before it could make any progress. The pump is good for holders only for a few minutes(you'll be lucky if you could sell the top).
The legal aspect:
Think before you decide to partner with these criminals..
"ASIC described Govinda as a “lone ranger”, and potentially could attract a maximum penalty of 10 years’ jail and fine of up to $765,000."
https://www.channelnews.com.au/asic-warns-of-pump-and-dump-finance-scams/Reporting(if anyone is interested):
https://asic.gov.au/about-asic/contact-us/how-to-complain/report-misconduct-to-asic/
