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Sunpeak Ventures Inc (SNPK) video chart

Posted on March 10, 2012 by stockhaven | Video Charts

This video provides detailed technical analysis of Sunpeak Ventures Inc (SNPK). Not only do we point out what to watch in terms of price action, but we include volume analysis as well. This video chart accounts for the action in SNPK shares thru 3/10/12:

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  • Alfred

    Hi StockHaven – I am new to your service and love what you do!  SNPK video was very helpful in outlining HOW to trade SNPK on Monday and summarizing what we have witnessed so far. I feel there is just one important thing you forgot to mention perhaps because of the time constraints. PLEASE Please can you add a comment here regarding that MASSIVE volume that came in on Friday at 54cents at approx 3:05pm. There were several huge blocks totalling over 20 million in volume if I recall correctly. This was clearly not retail money nor a late after hours T print. What is the significance of this huge demand at that time of day within the last hour and how does it affect the bullishness of the stock given that SNPK is clearly a fresh chart that had no prior trading before Thursday. Thank you SH in advance for your insights on this very unusual activity at 3:05pm . Cheers, Alfred. 

    • http://www.stockhaven.com StockHaven

      Hi Alfred,good question. That was wash trading, you can learn more about it at investopedia.com but the just of it is this: when shares are bought and sold by the same person(s) between a couple accounts. It isn’t real demand, it’s artificial. What purpose does it serve? Well it can do a number of things:
      1) give the impression of real demand which gets traders excited and causes them to buy, thus creating actual demand
      2) frees up money for the people doing the wash trading (from the account the shares were sold in) which allows them to use the free money to support the stock or buy it back up
      3) ensures that a large amount of shares are controlled by 1 or 2 accounts which puts them in control of a large amount of the potential supply that could come out and in turn puts the supply/demand equation more in favor of the demand side

      • Alfred

        That makes a lot of sense.

        Investopedia says of wash trading:An illegal stock trading practice where an investor simultaneously buys and sells shares in a company through two different brokers.For retail traders like myself who don’t have your depth of experience and knowledge, is there any signals we can pick up on Level 2 or the intraday chart to help us identify in the future, similar wash trading versus authentic demand pressure? I believe you of course, but how are you able to tell the difference when it is occurring? What are flags to look for? Much thanks SH for all your help!

        • Alfred

          I should have added, that in one of your YouTube videos you discuss how to recognise dilution in a pennystock. Knowing how to also identify a wash trade compared to genuine buying or selling pressure will also enable us to THEN also isolate and identify dilution when it occurs. Both these aspects, ie Wash Trading and Dilution can and do occur in a pump and dump and so I believe this is a very relevant topic right now given the new promotion, SNPK that has just started…

  • Pennyelite

    So i watch all your vids and all i get is being banned on your chat – _ -…With no reason.

    • http://www.stockhaven.com StockHaven

      Hi pennyelite, what is your username in chat? What is your username?

  • Egiroux

    What in the world happened to SNPK today.  In the morning it was at $2.40 a share and then when I returned from the gym around 1:00 pm it was dropping like an anchor at sea????

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