So a couple weeks ago I wrote a post how a big promoter was coming out of their summer slumber which should have been PCWT. At the time I was expecting a new fresh play but they ended up going with PWEI. PWEI was a successful pump they alerted on several months ago. This stock promoter usually doesn’t do repumps so it was unusual to see them do this, but now it’s obvious why. The stock traded huge volume and moved up 85% on the first day. I traded this one but because it was already promoted I was extra cautious and took my profits in a very short period time.
2 days ago PWEI got halted by the SEC and a day later they came out with PCWT. This sort of thing does occur in penny stocks because penny stocks are scams, however it used to take several months or even a year and now they are halting these stocks much quicker. The thing about PWEI is that it is what I referred to as a “repump” because Awesome penny stocks already pumped this stock earlier this year. As I said in my book you have to be very careful with a repump because the people who got trapped in the first dump, will be looking to sell the stock to get their money back, and repumps are usually sketchy in general. On top of this I only trade these sort of stocks on day one (in this case September 12), and will only consider holding overnight if I have already locked in a big profit the prior day. PWEI was up nearly 100% on the first day so I was out of this stock on day one. The risk of holding longer is too high. Always be on the look out for repumps… Watch PCWT and see if the can keep this one going or if the SEC halts this one as well.
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