Judging by some recent emails, it’s come to my attention that several readers were under the impression PennyStockProphet.com was a real stock picker…sorry to burst your bubble, but he’s not, he’s just one of many sleaze bags who banks because people are too stupid.lazy to read his disclaimer/know how the penny stock gutter works!
PennyStocking Silver subscribers and TIMalert subscribers know I will NEVER take compensation to make a stock pick, and that’s why my disclaimer is clean…I only get paid by people who want to learn to trade penny stocks from my 4 newsletters and 10 instructional DVD packages…most of my picks come from exposing cretans like PSP because only the absolute worst companies ever get promoted–after all, why would anyone spend $ to promote a company to an email list when the money would do the underlying company far more good (hint: because the product any promoted company is the stock, not the company itself)
…PennyStockProphet’s disclaimer on the other hand is not clean at all (although I’m sure he’s checked with his lawyers multiple times and it’s “legal”…the funny this is he makes it very obvious that his interests are not aligned with his readers/subscribers:
Hidden amongst tons of legal jargon meant to dissuade people from reading it all:
On occasion PSP receives compensation from a third party in relation to the profiled companies in the newsletters and e-mail alerts sent to our members. In such a case PSP will state at the bottom of e-mail alert and this disclaimer the exact form and amount of compensation. PSPS, its affiliates, associates, relatives and anyone associated with PSP in any manner reserves the right to either BUY or SELL shares in the profiled company’s stock, either BEFORE the date of the profile, DURING the date of the profile or at ANY time after the date of the profile. We may have an inherent conflict of interest by sending the newsletter at the same time we may own stock in the same company or even have been paid compensation at the time of the promotion. PSP reserves the right to sell shares at anytime, even during the time period in which we are profiling a company.
Do you think PSP does any independent research? LOL, of course not! every stock promoter I’ve ever talked with says they do research, but in reality, the only research they do is to make sure the company or the public-relations firm’s checks clear and the stock certificates of the shares they receive as compensation are valid.
See PSP admit his research comes from the people who pay him to email blast out to his “newsletter”
All information concerning the profiled companies is received directly from the companies, the company’s investor relation or public relations firms and/or outside research conducted by PSP.
Sure, sure, he’s got tons of marketing literature and email autoresponders to make you think he’s real, but read some PennyStockProphet reviews on Investimonials:
Why didn’t the long sales pitch put me off?
Normally when I see a long sales pitch I run for the hills. PSP (as they call themselves) make it look as if you can make over a million in a month. However once I signed up for the free newsletter (so they can spam you with adverts for the paid service) I noticed that they are getting paid to promote these stocks and this is what artificially makes the price go up. I am sure that the reviews on their website are true as some of the smart people get out quick after making some quick cash, while the rest sadly loose their money, as in the end this is just a disguised ponzi scheme that is not particularly well done. If you even look at there affiliate scheme you will notice that they claim earnings of many thousands while they contradict themselves elsewhere saying that they only have 500 members to keep the information useful, and stop any harm on the companies they promote.
Highly speculative. Not worth the risk.
In the search for the Holy Grail I tried this paid service when I first started trading. Typical rookie mistake looking for the fast track to millions. I tracked his picks for a while before actually shadowing him. I was surprised at first to see that some of his picks actually sky rocketed – that was before I understood the nature of pump and dumps.
My recommendation – stay away. If you won’t listen to me at least take this advice: if you are going to shadow trade this guy, get in quick and early, sell the minute you can turn a profit and DO NOT CHASE THESE STOCKS. Most of the time his picks will jump at the market open, but that is it. They will fade the rest of the day aonce his followers start the selloff. This is a scalper’s game. Take what you can get, and get the hell out because if you don’t you will lose a lot of money. Almost every pick this guy has made collapses within a few days.
Posted in Penny Stock Scandals, Stock Promoters