04-06-2006, 4:55 AM | Post #172120 |
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Greetings To All:|
The Munchkin Man comes before you early this morning with a very heavy heart and a very serious message.
Recently the Munchkin Man has learned of a notoriously dishonest web site which is in the business of bashing penny stocks with outright lies and distortions for the purposes of stock manipulation and short selling.
The name of this website is Stocklemon.com.
Let the Munchkin Man state right here and now, for the record, that the Munchkin Man was not the first person to warn of this website on this forum.
To the Munchkin Man's knowledge, this honor goes to the poster whose screen name is "Zerodown." He is the gentleman who has been providing some excellent due diligence on the stock whose ticker symbol is XSNX.OB in conversation thread #9721.
Thank you, Zerodown!
In essence, Stocklemon.com is a penny stock hater's wet dream.
Here is a link to their home page.
And here is a link to their latest penny stock bashing article, dated on April 04, 2006.
STOCK LEMON'S LATEST ARTICLE
You will see that this web site has chosen to attack a company known as Smart-Tek Solutions Inc (STTK.OB).
Yesterday, on the date of Wednesday, April 05, 2006, the company wasted no time in firing off a press release of its own, serving notice of its intent to sue this web site:
SMART-TEK SOLUTIONS FIRES BACK!
The web site known as Stocklemon.com has had very dubious past. To wit:
FROM THE WALL STREET DIGEST
The following is a concluding excerpt from the above-referenced article:
"We continue to believe that the principal(s) of Stocklemon.com, whoever they are, deliberately trash good companies for the purpose of generating short-term, short-selling trading profits."
In addition, Stocklemon.com is involved in a number of other lawsuites:
YET ANOTHER LAWSUIT
And you can probably find even more incriminating evidence against Stocklemon.com here:
MORE ON STOCKLEMON.COM
If you are a serious penny stock investor, what does all of this mean for you?
The Munchkin Man hates to say this, but if and until the Stocklemon.com website is shut down, you should probably bookmark it and check it every morning before the markets open.
Here's why. If you check this website one morning and find a blistering attack on a penny stock that YOU OWN,
its share price will probably go down that day. Put in a sell order as quickly as you can.
This is not because of any liklihood that anything in their reports might be true. Instead, it is the fears of other shareholders who worry that the information might be true, and who choose to sell, just in case.
In turn, their fears cause these shareholders to sell, causing the value of your stock to go down. So, the Munchkin Man would advise you to sell as well, and then buy the stock again after the dust settled and a bottom has been reached.
The Munchkin Man would also advise you to boycott any and all of the products advertised on their website.
Let's drive these crooks out of business as the lawyers sue their pants off!
The Munchkin Man shall close for now and go back to bed. This entire affair upset the Munchkin Man so much that he couldn't sleep last night.
Good luck to all.
Originally posted in thread: 9803