Steele Resources Corporation (OTC:SELR) is spurting for a second trading day in row. Today, the stock was recommended by PennyStockProphet.com. Their recommendations usually create a couple of days of appreciation on a heavier than the average volume, however, the process still depends on the recommended stock itself.
Yesterday, Steele Resources was also reviewed by PennyStockShark, and the company issued an announcement on a new letter of intent to acquire the mineral rights on two projects. The LOI might not become the real deal, but the promotions are real and they create short-term profit opportunities. Penny Stock Prophet received $40 thousand from a third party for a one day advertising of SELR. It’s twice the budget of yesterday’s promotion, so logically at least a heavier trading volume should be expected today.
PennyStockProphet.com is run by James Connelly, who claims to have turned $1000 into $1 million by trading penny stocks. Though there are strategies that could do the trick, it takes a lot of knowledge and experience as a day trader to catch the waves of the price gains in the penny stock world.
The newsletter is first of all a profit maker for James and his list of paid subscribers. There, people get the information before all others do. When trading their recommendations, bear in mind that the desire to take profits will likely lead to significant losses.
Check out the historic charts of PennyStockProphet’s previous recommendations as found on their website. Differently from other newsletter providers, this one doesn’t actually hide the aftermath for the recommended stocks after the buying pressure is gone.[BANNER]
