penny stock fortunes

Penny Stock Prophet Review: A Few Pennies so Far

Pig wants pennies
This is the start of week three using the Penny Prophet System. Week one I started trading the Penny Stock Prophet picks but there were no new picks that week so I jumped into some of his ongoing picks.  One of these 3 stocks the Stock Prophet gave the sell order around break even saying it doesn’t look like this stock would move like his algorithm predicted.  The other two stocks are still in play, they both have been floating around my buy point, which is better than losing but still not a win.  The Penny Stock Profit advice on these stocks is to hold for another week or two as there should be a jump in this sector soon.

Week two brought just one quick pick.  The advice was to buy for a quick 18-20% gain.  The same day, the stock reached its goal and I took a quick profit.  The rest of the week provided no action as all other stocks are buy and holds.

Today, the start of week three, finally there is some action.  In his nightly newsletter, the prophet gave out two new picks, one a quick day trade that I got in above the high end of his buy price and out at his sell price within minutes of today’s market open.  It seems the Penny Stock Prophet investors pushed this one up too fast premarket for people like me to make more than a small profit (I would have loved to have this pick on Friday).

The other trade for today is slightly longer term and I am up about 5% so far but hoping for at least 20% – my sell order is in and fingers are crossed.   Besides the quick pick last week, these are the first two picks I got in from the start.  This will give me a much better feel for the opportunity to make money.

Hopefully I can take some decent profits and report good news and give a good penny stock prophet review.  My other hope is one of the buy and holds from week one takes off instead of trades sideways.

My impression of the Penny Stock Prophet remains slightly positive for now.  I like the way he tells his followers exactly how to trade a stock with buy and exit points.  His nightly updates offer reassurance that someone is watching your trades tick by tick.

The bottom line is that I am only up slightly and now am now invested in four of his picks.  All the advice and hand holding in the world does no good if money is not being made. It is still too early to tell one way or another for a solid recommendation.   However, even if 5-10% gains can be made per month with this system, it would be worth it because most all the work is done for you, the Penny Stock Prophet followers just need to follow instructions.

Stay tuned for some more detailed reviews as I gain more experience with his system and picks. You can bookmark or follow the RSS feed from my Penny Stock Prophet Reviews page if you want to make sure you are completely up to date on my experience with the system.

Also, you can check out more at the Penny Stock Prophet at his sales page

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Article source: http://www.penny-picker.com/blog/2009/10/05/penny-stock-prophet-review-a-few-pennies-so-far/

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