I received the following today in a PM...it is an e-mail that a former subscriber to the Market Gems/Pristine service sent to another subscriber...it confirms exactly what we now know is going on. I am reposting it in it's entirety:
"You're right about those calls. This was the best day yet for them, and
we were still 1/2 from even being flat, before they tanked at the end in
addition.
Did you notice Jenna's post that she is no longer going to announce her
trades, only the 'room' triggers? That was just a matter of time, I
suppose. But things will get boring pretty quickly when she just comes on
and tells us about her victories after the fact. What good does that do
anybody other than the pathetics who pop up like jack in the boxes after
everytime they have a loser to say how fortunate they are to have
'learned' so much from the disaster. I can't take much more of that
learning, for sure. We'd all be safer just spreading leaps were the truth
known, and settle for a little less 'action.' Guess she'll let OJ take
the heat and the lawsuits down the road like the good sport he appears to
be. She did confess to a couple bad trades after the mkt closed, and Jerry
nearly got fried by shorting RIMM at 113-3/4 in last 15 minutes, and it
shot up to 117 + in about 90 seconds. It did come down and he got out at
114-3/4, but he about had a heart attack live on internet telephony.
Somebody named Dave came on a couple days ago and stated he didn't see
that many people at all were making money in the room?! Absolutely nobody
rose to that bait at all. I think the room is in complete denial.
Monday or Tues. Jenna said she bought calls in MEDI or MEDX, I forget
which. I thought that sounded reasonable, so I checked them out. Only 5
contracts of calls had been recorded that morning, so I figured that had
to be hers. None of the other strikes had even been traded for days. I
put in a limit order to buy two or three at her price. The ask was
already 5/8 higher than what she paid. About 2:00 the ask dropped to have
filled me, but I had already cancelled it before, but had been checking
regularly to see whether or not I would be filled. The stock went on to
drop, and the day's only five calls were sold for $2 less than they were
purchased for. She reported the stock was a 'pos' and she was smart
enough to exit the options with only a quarter(?!) loss when she recognized
some obscure technical rotation!!
This whole deal would probably be fine if you had a hundred thousand
capital trading account and did nothing but scalp one stock at a time, but
it takes too long to identify, enter, and exit option positions after
these surprise triggers are called before you are whipsawed - not to
mention overcoming the spread, first of all. Jenna's 'trigger' on KLAC
today was after a huge three bar reversal on the 5 min. candles. Look it
up and see for yourself... Now my Chihuahua could have recognized that if
he had been looking. Of course the fourth and fifth bars exploded in red
to the downside, so what's the proprietary expertise that called that
one? When it gets right down to it, it's still a crap shoot predicting
what will happen next, as stock after stock disappears into trigger
obscurity and denial, only to be resurrected for credit two months later
when it finally surges - "Oh,yes, we called that on the watch list back in
February...."
I hope we are all ultimately successful because lots of people are putting
in so much effort. But it does get discouraging when people are realizing
that, like Santa Claus, there are really no silver bullets out there -
especially for those without enough capital to take advantage of leverage
when they do luck into a decent trade. Most of these triggers are not
even buying us enough time to overcome the spread before reversing, much
less building a profit we can capture." |
