Over the last few years I've tried quite a number of Stock and Option picking and Financial type newsletters touted as being just wonderful for your portfolio. I have yet to find even one that gives reliable stocks, options picking advice. I have lost money with every one of the following newsletters/trading services, so be sure to check out the reviews of any newsletter or service before you subscribe at
StockGumShoe.com:
Weiss Research (Larry Edelson is terrible at timing the markets, also a Mike something or other that runs Leaps Options service). Anyway I lost money following both these jokers.
Quick Hit Trader by Joe Burns. I took a quick hit alright, right in my trading account!
Boom and Bust by Harry Dent, Lousy options picks lost me a chunk.
Market Authority - Gold and Energy Option Trading by James DiGeorgia and his minion Geoff Gorbacz, very amateurish and inconsistent. They did fine during the trial period but after that was over they went on to recommend 5 losers and held them through earnings announcements. Every one of those tanked. Ended up losing more money than they made for me in the beginning. They cut off their winners and let their losers run, not monitoring any stop losses for us as they'd promised and letting our options expire worthless. Very bad.
Maximum Options by Ken Trester - touts his Z-Trades which are nothing more than put option credit spreads. He's deceptive in his ads claiming full disclosure equals his 100% Z-Trade winners, in fact I just got another of his ads claiming this today and sure enough he didnt include my personal biggest loser of all time, the WTW trade. You can see what happened to the stock on the chart above on Feb 14th the stock had gapped down because of bad earnings overnight causing those of us in this trade to lose the maximum loss. He had at least another trade just like this but I didn't trade that one. Of course full disclosure doesn't include his 500% Z-Trade losers. put option credit spreads can be very dangerous. I found out the hard way with Ken Trester who also had us waiting for our credit spreads to expire worthless through earnings announcements so we could keep the credit we received for taking $450 of risk for only $50 of reward per contract. Problem was they came in with bad earnings and tanked overnight before we could activate our protective stop losses. I sure lost the
maximum!
If you receive a tantalizing newsletter/trading service offer check out the reviews before you subscribe at
StockGumShoe.com
In my experience the newsletters are good for entertainment value only. Follow their trading advice at your own risk.
Appreciate the tip! Yes, his newsletter sounds good that's saying a lot from me because I am a hard sell type. Sorry to hear you lost from his tips. Most of the newsletters I have signed up for from option traders are jokes. Some I found even reported inaccurate profits in math calculations, etc. I am sticking to my own picks. Good Luck to you too!
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