Since I am always looking for ways to make money online and create extra income, I signed up on Penny Stock Chaser’s website and I have been receiving their stock picks for a few weeks now.  Some of their picks literally go up 40% in one day, while a few days later that very same pick might drop 50%.  I have a theory about Penny Stock Chaser which I am about to test. 

My theory is that when a new stock is hyped up on Penny Stock Chaser, it immediately skyrockets due to all of it’s members investing in that stock.  Then, once it has turned a profit – everyone who is smart, cashes out at a higher stock value and the stock then crashes.  Some people call this a “pump and dump” scheme.  I plan to try and use this scheme to try and profit from Penny Stock Chaser.  This is what I will call “The Great Penny Stock Chaser Experiment“. 

I am going to start with a measly $150.  (I put $158 in my Scottrade account – the $8 will cover the first stock purchase.  My rules are as follows: 1.  I can only purchase stocks that Penny Stock Chaser picks.  2.  I cannot hold one stock for more than seven days.  I am going to try and focus on new stocks that Penny Stock Chaser begins to hype up.  I have been getting their emails for a while now, so I won’t try and pursue stocks picks they have been sending out for a while now.  One thing to note; I can sell a stock and buy a new one, but then I have to wait three days for the funds to clear-  Scottrade has a three day waiting period in between purchasing any stock under $4.  So, let the experiment begin!

I will be buying my first penny stock within the next few days.  Once I have purchased my stock, I will keep you updated with screenshots of my Scottrade account.  I will be providing screen shots of my account throughout this entire experiment – whether my account grows or dwindles, you will see the results.  At this point I am not a proponent of Penny Stock Chaser, nor am I denouncing them – I will have a stronger opinion after this experiment!

You can visit Penny Stock Chaser’s website here: Penny Stock Chaser

Let us know what you think about this review of Penny Stock Chaser, if you have compliments, complaints, comments or you think it is a scam – let us know by commenting below…

Best regards,

Michael-John Wolfe

TAGS: Residual Income, Make Money Online, Royalties

THE GREAT PENNY STOCK CHASER EXPERIMENT – RESULTS

Date: February 3, 2010 – BUY 37,500 shares of GDHI.PK  @ .004  per share =$150.00

Date: February 10, 2010 – SOLD 37,500 shares of GDHI.PK @ .0035 per share = $123.58

Date: February 10, 2010 – BUY 124 shares of MYSL.PK @ .98 per share = $129.13

Date: February 17, 2010 – SOLD 123 shares of MYSL.PK @ .82 per share = $94.16

Date: February 17, 2010 – BUY 2800 shares of WDRP.PK @ .0227 per share = $70.88

UPDATE:  So far EVERY stock that Penny Stock Chaser has reccommended to me via email has gone down as soon as I bought it.  In fact, my initial investment of $150 is now down to $70.88.  I am going to stop trading and hold this final stock as long as possible.  So far I am not impressed with my results!

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