New ‘Paranormal Activity 3’ Trailer Goes for the Cheap-Scare Hat Trick (Video)

Paramount's low-budget horror juggernaut wants to scare up your interest

The "Paranormal Activity" franchise will once again attempt to scare the pants off of audiences on a shoestring budget on Oct. 21, when the third installment of the series hits theaters.

The prequel, set in 1988, will chronicle Katie and Kristi's first encounter with the mysterious monster that plagued their nightmares in the first two movies.

Check out the second trailer for the movie in the video below. Don't be embarrassed if you flinch and shriek like a little girl — we won't tell anyone, even though we can totally see you through that little camera in the top of your monitor.