Here at PSE, we try to issue pieces that give some guidance to aggressive traders, and CROWN VENTURES INC. NEW (PINK: CRWV) has popped up on our radar screen. By no means are we recommending a purchase of CRWV, because at this point the shares should just be viewed as a trading vehicle.
At the time of this entry on Monday, CRWV is up about 18% on fairly heavy volume, which has eclipsed 43 million. At this point some could say the gains in CRWV are simply the product of penny stock gold players jumping in (Even though gold is off sharply today), others may credit the upward move to a strong stock promotion, but more importantly, there is a strong vibe in the penny stock commumity that a potential short squeeze might be underway with CRWV.
It doesn’t take a genius to figure out that naked shorts are involved in many rising penny stocks, and these same prop traders and market makers are often right when they catch an overbought penny stock at the tail end of it’s move.
Now last week CRWV announced that it’s properties have potentially $3 Billion of gold on them. Is that a stretch ? Probably. But does that mean that market makers might be caught short ? Well that remains to be seen.
CRWV Showing Strong Signs
Some of you may remember Cascadia Investments (CDIV.PK), which was a gaming play that basically had no revenues and was under major scrutiny from the press. However, that didn’t stop shorts from getting absolutely killed after they were bought in to CDIV at higher prices.
At this point, the perception is that the Reg Sho list on CRWW is growing and was over 16 million shares short on Friday. Does perception become reality ? Does a squeeze occur ? That is yet to be seen, but regardless of your bias, add CRWV to your penny stock list.
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