OTC Pump & dumps are not dead: GESI pumped via Google Ads
Goode Trades Blog
by Michael Goode
1y ago
With 340 million shares outstanding, General European Strategic Investments Inc (OTC: GESI) boasts a market cap of $1.6 billion. There are only 37 million unrestricted shares though so that limits how many can be dumped. As always, look at the volume on the chart to see when it started to get promoted (probably mid-April after some wash-trading early in the month). Is the company in on the pump or do they not have a clue? There is even less chance of figuring that out than usual because the pump page I found doesn’t have a disclaimer to say who owns it or who paid for the pump. You can find t ..read more
Visit website
Update on my trading computer
Goode Trades Blog
by Michael Goode
1y ago
[Updated 2021-3-15 with picture with new monitor and update to CPU.] I last wrote about my trading computer back in 2016 and I just updated it so here is an updated post about it. Not much has changed but there are a few key improvements. The monitors are the same, except that I bought a Viewsonic 43″ monitor to replace my two right-most monitors. One problem with this specific monitor is the VESA mounting holes are towards the top of the monitor so if mounted in portrait mode it tends to tilt to the side (hence the books under it). Another downside of using such a large, flat monitor is that ..read more
Visit website
Scottsdale Capital Advisors’ defamation lawsuit against me ends with a whimper
Goode Trades Blog
by Michael Goode
1y ago
Summary: Scottsdale Capital Advisors settled their lawsuit against me (link is to settlement), I don’t pay them and they don’t pay me, everyone pays their own lawyers, and my blog posts remain unchanged. It has been over two years since I first received a demand letter (dated 12 September 2017) from Charles Harder (destroyer of Gawker and personal defamation lawyer to President Trump) on behalf of his clients John Hurry and Scottsdale Capital Advisors (SCA). (See the demand letter on page 177 of my answer to the 3rd amended complaint.) SCA was the sole plaintiff in the eventual lawsuit against ..read more
Visit website
SEC Suspends trading in blatantly promoted Rivex Technology (OTC: RIVX) after the pump ends
Goode Trades Blog
by Michael Goode
1y ago
After just over two months of continual stock promotion by what is in my opinion the sketchiest stock promoter out there, the SEC commissioners finally found enough evidence to do their job and suspend trading in Rivex Technology (OTC: RIVX). Like with prior promotions by this stock promoter (referred to as the Tier 1 or Panamanian Promoter by OTC Market Research), OTC Markets had done its job by designating the stock ‘caveat emptor’ after the close on the first day of the promotion (November 4, 2019). SEC Suspension press release (pdf) SEC Suspension order (pdf) The SEC mentioned the followin ..read more
Visit website
The New Year brings new SEC action against ‘microcap fraud scheme’
Goode Trades Blog
by Michael Goode
1y ago
For those who dislike microcap fraud 2020 started out right with three related SEC lawsuits and a related criminal complaint against two of the individuals that the SEC sued. All the cases were filed in US District Court in the Southern District of New York. The case numbers below are linked to the case dockets on CourtListener. The three civil cases: Securities and Exchange Commission v. Ulrik Debo (1:20-cv-00006) Complaint (pdf) SEC Press Release Securities and Exchange Commisison v. Steve M. Bajic, Rajesh Taneja, Norfolk Heights Ltd., Fountain Drive Ltd., Island Fortune Global Ltd., Crystal ..read more
Visit website
Defunct broker Spencer Edwards gets fine more than quadrupled in appeal to FINRA NAC
Goode Trades Blog
by Michael Goode
1y ago
An enduring theme on this blog over the last few years has been the SEC and FINRA’s crackdown on brokers accepting penny stocks for deposit. There are a number of different violations these firms have been cited for: violations of rule 15c2-11, failures to maintain adequate supervisory systems, failures to establish and implement appropriate anti-money laundering (AML) sytems and procedures, and allowing the sale of unregistered shares without a valid exception. On December 10, 2019 the FINRA National Adjudicatory Council (NAC) published its decision (pdf) in the matter of Spencer Edwards, a d ..read more
Visit website
Protected: Private post
Goode Trades Blog
by Michael Goode
1y ago
This content is password protected. To view it please enter your password below: Password ..read more
Visit website
Broker and OTC Market Maker Vandham Securities settles with SEC over penny stock violations
Goode Trades Blog
by Michael Goode
1y ago
On September 16, 2019, Vandham Securities Corp settled with the SEC. See Vandham Securities BrokerCheck report. In July 2018 Vandham was bought or merged with Wall Street Access (see its BrokerCheck report). Vandham (technically Wall Street Access now) continues to act as an OTC market maker with the market maker ID “VNDM” but I am unsure of how active it is in that line of business. According to the settlement, Vandham’s “primary business during the relevant period [January 2016 to April 2017] involved facilitating the sale of thinly traded, low priced over-the-counter stocks into the market ..read more
Visit website
FINRA NAC reaches decision against C.L. King & Associates for supervisory and AML failings related to penny stock sales
Goode Trades Blog
by Michael Goode
1y ago
On April 18, 2016 FINRA Enforcement filed a complaint (pdf) against C.L. King & Associates, Inc (hereafter referred to as C.L. King) and Gregg Alan Miller (CRD #4163500). At the times relevant to the complaint, Miller was C.L. King’s compliance manager and AMLCO (anti-money laundering compliance officer). Miller is still listed as working at C.L. King according to FINRA BrokerCheck as I write this. On September 6, 2017 a FINRA OHO extended hearing panel reached a decision (pdf) in the matter. C.L. King appealed the hearing panel decision to the National Adjudicatory Council (NAC) of FINRA ..read more
Visit website
OTC Pump & dumps are not dead: GESI pumped via Google Ads
Goode Trades Blog
by Michael Goode
1y ago
With 340 million shares outstanding, General European Strategic Investments Inc (OTC: GESI) boasts a market cap of $1.6 billion. There are only 37 million unrestricted shares though so that limits how many can be dumped. As always, look at the volume on the chart to see when it started to get promoted (probably mid-April after some wash-trading early in the month). Is the company in on the pump or do they not have a clue? There is even less chance of figuring that out than usual because the pump page I found doesn’t have a disclaimer to say who owns it or who paid for the pump. You can find t ..read more
Visit website

Follow Goode Trades Blog on FeedSpot

Continue with Google
Continue with Apple
OR