February 06, 2013 at 10:02 AM EST
Swingplane Ventures, Inc. (OTC:SWVI) Took a Hit
Swingplane Ventures, Inc. ( OTC:SWVI ) closed in the red yesterday, after seven consecutive sessions of positive movement. SWVI was trading just below $0.40 for most of the session but shortly after 3 pm sales came through on significant volume and after 13.6 million shares had changed hands SWVI closed down 11.82%.[BANNER] Before the open SWVI issued a press release containing some information from a sampling program from 13 years ago. The market performance suggests traders weren't particularly impressed. That's an understandable reaction, since SWVI hasn't filed an official document showing that it actually owns any interest in the Algarrobo property so far. Before the deal with Mid Americas Corp is closed and SWVI starts mining and making money, or at the very least until it has some proven resources, comparing SWVI to any of the big companies mining copper is nothing more than a speculation aimed at increasing the hype. When such speculations come from paid pumpers it can be viewed as them doing their job, but when a company uses such tactics it just looks bad. Meanwhile, the previous Awesome Penny Stocks (APS) pump, World Moto, Inc. ( OTC:FARE ) is still on its arduous journey to the bottom. As for APS, they are still mailing on SWVI , trying to convince people this pump can last for months. Traders should keep in mind that such words don't mean too much. APS were touting Superior Venture Corp ( OTC:SVEN ) right up until it dropped 63% in one day. Still, it would be a surprise if SWVI gets crushed so soon after the start of the pump. With the exception of SVEN, APS pumps last about two or three weeks before they start crashing hard. On the other hand, they usually take off later than SWVI did, so there's a chance it won't last as long as most previous APS pumps have.
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