What would you do with $1.6 million?
A small penny with a multi-million dollar bank roll is grabbing all the penny stock news and small cap attention.
Abot Mining Co. (OTCBB ABOT.PK)
Yes ABOT is making 15% gains today after making 200% gains on Friday but lets face the facts: the stock just got HAMMERED from nearly $.10 cents a day or two ago for this very reason. The old “recycle leads” trick is what it’s called.
Now no one knows this for sure so this is all pure opinion but a guess would be that the promo team finds a way to sink the share price just a day or two before the campaign started. Then, they run it up 200% (which is still 50% lower for those in at $.10 a day or two ago) and claim a victory.
It’s like shaving your balls to make dick look bigger or stuffing your bra with toilet paper if you prefer the latter.
But as always, the big question remains: If you own ABOT you want answers so where does ABOT go from here?
Technically, the stock has resistance at $.08 $.085 and $.095 ahead with no support until $.006. So the question is: Will the stock hit $.006 soon?
Maybe not in the next day or two because of the million dollar pump. That kind of campaign simply won’t let it but check back in a week or two after the fat ham/turkey fest and drunken midnight kisses and I bet you see it near that level.
We all know a million dollar pump will help defy the charts for a day or two, Obama does it all the time. This is how you could play it:
- The stock closed up Friday and is up right now
- When they will pump the hell out of it today, watch it tank at market close
If you play this right and add some cheapies near the last dip at the end of day then you can sell the Tuesday morning gap up on the pump. Rinse and repeat for probably Wednesday into Thursday and then toss this piece of crap to the curb.
Look at the companies most recent news:
SHERMAN OAKS, Calif. , Dec. 16, 2011 /PRNewswire/ — ABOT Mining (Pink Sheets:ABOT.pk) announced today that it has formulated an agreement with Rising Star S.A. de C.V., a Mexican Corporation, to acquire 50.00% equity interest in its Mexican mineral property (the “Aztlan 8B Project”).
The Aztlan 8B Project is located in the State of Nayarit in the Tecuala Mining District on the west coast of Mexico . The claim covers 300 plus acres, and is within a few kilometers of the pueblo ‘ Paulo Blanco ‘. The Tecuala Mining District is considered a widely mineralized area and identified as a major deposit of gold and other minerals. The area around the Aztlan 8B has been extensively explored and is currently being mined by several known junior mining companies and geological institutions. According to Rising Star, past surface trench testing by others revealed deposits of placer and epithermal gold deposits, where overall bulk sample feed grade ranged from 0.20 gm/t to 39.00 gm/t. These tests were conducted across outcroppings of silicified volcanic breccias.
Mexico has a rich mining history of almost 500 years which preceded the arrival of the Spaniards in 1500s. However, since 1995, mining exploration has become increasingly attractive for foreign investors due to the creation and amendment of the applicable legal framework including the North American Free Trade Agreement and implementation of mining laws and environmental regulations that are favorable to mining exploration, development and production.
“We look forward to partnering with Rising Star and initiating the preliminary phase of our trench testing program of the Aztlan 8B Project. We strongly believe that results from our preliminary phase shall provide an objective view on viability of these gold and silver deposits. Subsequent to these results, the Company shall utilize its financing capabilities and Rising Star’s mining expertise to develop the Aztlan 8B Project and to further explore and acquire additional mineral properties,” said Morris Rafi , President of ABOT Mining.
Buy the late day dip and sell the Tuesday/Wednesday gap ups.
***Reminder: never chase stocks that gap at the open and always protect your profits!
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