iTalk, Inc. (OTCBB:TALK) Confirmed as Successor of GNIN

Last Thursday we covered iTalk, Inc. (OTCBB:TALK) and we said it could be the next pump job of the group of newsletters which promoted Green Innovations Ltd. (OTCBB:GNIN). Now that’s certain.

The newsletters officially announced TALK as their new “pick” on Friday after TALK had closed up another 12.18% at $1.75 per share, and recorded its second highest volume with 6.1 million shares.

The newsletters in the group touting TALK are Dividend Seeker, National Traders Association, Investors Alliance, Breakout Finder, and Traders Insight. Their disclaimers say they are being compensated $40 thousand a week. So far, we don’t know whether there is a high-budget tout report, as the case was with GNIN.

TALK, as GNIN in its time, is playing its part in creating the hype. On Friday the company issued not one but two fluff releases, and there’s another one today. The second release from Friday was about an LOI for an acquisition, and the one from today concerns the launch of some broadband VoIP phone service.

Traders prone to play the big pumps are probably aware of what TALK is. They will probably make some profit and get out in time. However, traders who are new to the market may be in danger of seeing TALK as a suitable long term investment. They should ask themselves how does a company with total current assets of $380 go about launching products and acquiring companies.

So far today, TALK is up another 12%. It’s likely it will continue to run for some time and provide opportunities for quick profits. Traders should still be careful and keep in mind that there will be a crash at some point, and it could be a huge one.