Penny Stocks Formula Review

Rating:  

Penny Stocks Formula

Website: www.pennystocksformula.com
Pick Quality: 2/10
Biased: On Occasion*

Methodology: Chris Palmer is the self styled ‘Penny Stock Renegade’ who claims to have invented a secret formula for hyper gains from penny stocks and there are some pretty spectacular gains shown on his website. But…

Overview: A quick analysis of all the gains shown on his sales page flagged up an alarm for us.
All the gains were made in a single month (Dec 2010) and all the buy and sell signals were barely a week apart.

Impressive wing span!!

Obviously we are aware of the volatility of penny stocks and gains like those illustrated are not unusual but a pattern like, across all the trades illustrated, that shouts ‘pump and dump’ at us.

If you’re not familiar with the phrase, in a nutshell it means that a newsletter (or broker) hypes up a stock to get all their subscribers to pile in. Because of the limited market in penny shares the price shoots up as a result. The first investors then dump the shares making good profits while the rest are left holding the baby.

*What’s more if you look at the small print, in the website’s disclaimer, you’ll see this phrase ‘On occasion Penny Stocks Formula receives compensation from a third party in relation to the profiled companies in the newsletters and e-mail alerts sent to our members’ which means they get paid to push a stock. So, hardly an unbiased opinion of a penny stock’s prospects.

Cons: See above but if you feel different let us have your own review using our ratings below.

Bottom Line: From the sales page, ‘You might have run across some of these “fly by night” investment programs – you know, the “$97 miracles” you see advertised all over the Net these day’ … he then goes on to push one of these “$97 miracles” at you. Enough said!

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Penny Stocks Formula Review, 1.3 out of 10 based on 1 rating