The Great Penny Stock Chaser Experiment

MJ Wolfe — Sun, 31 Jan 2010 12:15:04 +0000

While listening to my satellite XM/Sirius radio (Howard Stern — shhh!)ï¿½I always hear advertisements for a website called Penny Stock Chaser.ï¿½ They claim to pick penny stocks that increase in value anywhere from 50% to 2000%.ï¿½ Having bought a few stocks in the past, I do know that the risks associated with penny stocks are pretty high and you could lose a lot of money – if you invested a lot of money.

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.ï¿½ Some of their picks literally go up 40% in one day, while a few days later that very same pick might drop 50%.ï¿½ I have a theory about Penny Stock Chaser which I am about to test.ï¿½

My theory is that when a new stock isï¿½hyped upï¿½on Penny Stock Chaser, it immediately skyrockets due to all of it’s members investing inï¿½that stock.ï¿½ Then, once it has turned a profit – everyone who is smart, cashes out at a higher stock value and the stock then crashes.ï¿½ Some people call this a “pump and dump” scheme.ï¿½ I plan to try and use this scheme to try and profit from Penny Stock Chaser.ï¿½ This is what I will call “The Great Penny Stock Chaser Experiment“.ï¿½

I am going to start with a measly $150.ï¿½ (I put $158 in my Scottrade account – the $8 will cover the first stock purchase.ï¿½ My rules are as follows: 1.ï¿½ I can only purchase stocks that Penny Stock Chaser picks.ï¿½ 2.ï¿½ I cannot hold one stock for more than seven days.ï¿½ I am going to try and focus on new stocks that Penny Stock Chaser begins to hype up.ï¿½ 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.ï¿½ 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-ï¿½ Scottrade has a three day waiting period in between purchasing any stock under $4.ï¿½ So, let the experiment begin!

I will be buying my first penny stock within the next few days.ï¿½ Once I have purchased my stock, I will keep you updated withï¿½screenshots of my Scottrade account.ï¿½ I will be providing screen shots of my account throughout this entire experiment – whether my account grows or dwindles, you will see the results.ï¿½ 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 ofï¿½Penny 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:ï¿½Residual Income, Make Money Online, Royalties

THE GREAT PENNY STOCK CHASER EXPERIMENT – RESULTS

Date: February 3, 2010 – BUYï¿½37,500 shares of GDHI.PK ï¿½@ .004 ï¿½per 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:ï¿½ So far EVERY stock that Penny Stock Chaser has reccommendedï¿½to me via email has gone down as soon as I bought it.ï¿½ In fact, my initial investment of $150 is now down to $70.88.ï¿½ I am going to stop trading and hold this final stock as long as possible.ï¿½ So far I am not impressed with my results!

Tweet This Post

Residuals and Royalties » stocks

The Great Penny Stock Chaser Experiment