Posts Tagged ‘penny stocks’

So it’s been about a week since I signed up for the Penny Stock Prophet alerts and my feelings on it have actually been somewhat mixed. I’ve seen one or two gigantic winners that exploded overnight, and another couple that hardly made any gains whatsoever. The most recent one I am optimistic about however, because it’s showing signs of developing a severely oversold position combined with a lot of congestion, an ideal combination for a sudden upward burst in price action. Yesterday’s pick was Jackson Hewitt Tax Services, (JTX). Here’s a look at the chart:

You can see that stochastic has severely bottomed out, so I see exactly why this trade is being posted this week. I bought it at 2.75 and it’s trudged upward slightly to 2.80 The only thing making me nervous is that I was expecting the breakout to occur yesterday, and it’s now Tuesday afternoon and still no breakout yet. Hopefully these picks don’t change my mind about James Connelly’s service. As of right now I still think he picks a good stock, I just am reluctant to think it is as amazing as it gets worked up to be.

Still, if you want to make money in penny stocks, his service is a reliable choice. I give him a break this past week or two as the equity markets have had a downward momentum and I expect he will find some great picks in the near future. My rating on this is still that it’s worth buying, but at the end of the day that’s for you to decide based on your own trading abilities and preferences.

So if any of you have been visiting my site you know that I do some advertising for a guy named James Connelly, the supposed ‘Penny Stock Prophet’. Connelly was a math student at a prestigious east coast college for a number of years and spent a lot of time independently studying patterns and price action in the stock market, his goal of course being to develop a system that could identify and predict price breakouts before they occur. Needless to say, after years of toiling and trial and error he found a couple of key features and ratios within stock prices that could determine a breakout before it occurred.

After developing a system that worked well to gain a small percentage of profit within a couple of days on standard mid and large cap stocks, he decided his system would work much more effectively if he turned his attention to stocks that can jump a great deal within a short period of time, which brought him to micro caps, a.k.a. penny stocks.

Nowadays he trades consistently on penny stocks and has made a fortune as the penny stock prophet. His site is essentially a detailed series of newsletters that give you guidelines for how he is going to trade and what you can do to imitate his system. It’s a novel idea because it takes his trades and basically hands them over to you in real time.

My only disappointment with the product thus far is that it doesn’t have any substantial guides or members only areas that you can get advice and interact with other members on the penny stock prophet system. I was expecting something more for 97 dollars, but if his trades can make me money, I’ll gladly put up the cash to get started, especially considering Clickbank guarantees my purchase. (I’ve gotten refunds from Clickbank before, they are a reliable company so don’t even worry about getting scammed).

So next week I’ll be trading alongside the penny stock prophet and I’ll let everyone know how things are going. If you still need to check out his system and find out if it might just work for you, I encourage you to take a look at the Penny Stock Prophet by clicking here.