PennyStockChaser: The Rise and Predictable Fall of $BRYN
November 10th, 2009 at 10:32 am Posted by
After a run from $0.03 Friday to $0.24 yesterday, $BRYN was in the green by as much as 700% before closing up 211% yesterday.
Bryn Resources Inc. (OTC: BRYN) is a mineral resources exploration company which focuses primarily on gold. $BRYN used to be RnetHealth, Inc., until it completely changed its business focus about a year ago.
The Dean believes $BRYN‘s activity from Friday, Monday and earlier this morning can be attributed to promotion of the company by PennyStockChaser.
PennyStockChaser.com sent out an email on Saturday, claiming “the move of the stock [$BRYN] is dependent upon news from the company.” And what news did the financial world get from $BRYN yesterday? This interesting commentary on “recent share price activity.”
The Dean thinks this press release, which claims $BRYN “has been actively discussing potential acquisitions with investment bankers, intermediaries and mining company principals in the United States and Canada,” is a joke.
In fact, the press release goes on to say that $BRYN is “closing a production deal” right at the moment the press release was being sent out to the public.
Although $BRYN saw activity based on this supposed “deal” that claimed “several millions of dollars” in cash flow, The Dean believes the stock falling about 20% today is a direct response to $BRYN not following up with “news” about the big “deal.”
Obviously, The Dean’s not here to point fingers at other pennystock promoters out there. But, as The Dean told the CollegeStock Community in The Dean’s Penny Stock Oath, The Dean will be making an effort to educate all of his students about the real reasons behind stock movement.
The Dean noticed that even Mr. Short Seller himself, Timothy Sykes, sent this TIMalert out to his subscribers last night:
“Bryn Resources Inc (BRYN) jumped 200% to 20 cents/share on blatant stock promotion right at the market open…good for those quick enough to buy in at the market open, useless for everyone else…definite potential short”
In the case of $BRYN, clearly PennyStockChaser’s promotion was the cause for increase in trading volume and share value. But the fact that $BRYN released “news” suggesting the movement was due to reasons other than promotion is where The Dean finds fault.
BRYN looks pretty good to me… traded it 4 times. got in at 3 cents out at 20, in at 30 out at 40 and in at 45 out at 75.
Timothy sykes just hates the fact PSC is good and different @ what they do compared to any competition. He goes after them and other for his own self promotion for sales of his own crappy DVD’s.
if he is good @ what he does he would offer it for free.