New Energy Technologies was recommended by Green Chip Stocks at $1.46 inInvestment Digest issue 682, dated November 3, 2010.
“A few weeks ago, New Energy Technologies, Inc. (OTCBB: NENE) soared past $4.00. A lot of folks wanted to know at the time if it was still safe to buy the stock at such high levels. As I mentioned on two separate occasions, those looking to get in on this one should hold off until things cool off a bit.
“Well, not long after this, the stock did start to correct. So we watched it closely to see how the correction would play out. Then last week, I started to notice some awkward movements and volume trends. I had the feeling something was off, but I needed to confirm my hunch. And that’s exactly what happened.
“Turns out, a well-calculated short attack on the stock was underway, and yesterday I saw what looks like the beginning of a media blitz pushing the short attack on NENE. Bottom line: NENE is under attack by a shorting service. These guys are very effective at tearing these stocks apart like ravenous piranhas, and they take no prisoners.
“I don’t want us to get caught up in this thing. So let’s lock in our gains now, wait until this storm has passed, then jump back in after these guys have moved on to their next victim.”
- Jeff Siegel, Green Chip Stocks, April 10, 2012