Hello Paul! A comment that you made really struck home with me. I hope you don't mind if I expand on that comment.
You mentioned, >> The Strictly Drilling II thread is probably a good place to check that out. They seem to make some good trades. <<
The key phrase here is, "THEY SEEM TO MAKE SOME GOOD TRADES."
I used to think the same thing. Mr. Isopatch continuously mentioned that he used to work for a Wall Street brokerage firm and that he was a professional investor. I was pretty much impressed with what he told me and others. I started to notice that most of his announced trades always came after the fact. You know, like I bought stock X early this morning and he didn't mention it until late in the afternoon. He would never give any before the fact buy scenarios, it was always after the fact. I was curious about that. Having over 20 years of management experience, I know that a good manager inspects what he expects. So I decided to inspect Mr. Isopatch's work. You aren't going to believe what I found. Here are just a few examples.
Here is part of message he typed on October 30:
>> IMHO fwiw<g>, the PPT and the manipulators WILL lose and the markets AND the giant debt pyramid that's been building for decades WILL completely collapse sending us into am absolutely tremendous depression. Call it a K-Wave, a super cycle collapse, the semantics are secondary. It's here. <<
Message 16580568
In essence, he said to short the PPT. In looking at this chart, you'll notice the NASDAQ when straight up, THE DAY AFTER HIS CALL! The market went on to add better than a 25% gain in just over 2 months.
stockcharts.com[h,a]daclyiay[d20011030,20020107][pf][vc60][iut]
A 25% move opposite his call, in just 2 1/2 months is a MAJOR MOVE, in my opinion. Wouldn't you agree?
Perhaps it would be easy to overlook if it was just one call, but it wasn't.
On August 15, Mr. Patch had this to say:
>> Intermediate Term bottom confirmed in OS & NG stocks today.
My read is the rally:
1. Will be the best patch rally ytd, and
2. Has a good chance of continuing well into September.
No firm target, but 118 OSX wouldn't surprise me. <<
Message 16217490
He said a confirmed bottom! He said the best rally year to date! THE DAY AFTER HIS CALL, the XNG dropped 20% in just six weeks. Again, another MAJOR MOVE opposite of what Mr. Patch called for.
stockcharts.com[h,a]declyiay[d20010814,20010927][pf][vc60][iut]
And the OSX, it dropped over 30% in the next six weeks, and it started THE DAY AFTER Mr. Patch made the call for it to rally. THE VERY NEXT DAY!
stockcharts.com[h,a]declyiay[d20010814,20010927][pf][vc60][iut]
Paul, to listen to Isopatch, you'd think he was very successful at trading. Do these calls look successful to you? It's unbelievable! To make three major calls that turned opposite of your call, THE VERY NEXT DAY, and for MAJOR MOVES of 20% or more in a matter of weeks. Does anyone here realize how hard that is? Try making three calls that will head down the day after you make it and have those calls lose 20% or more in 6-8 weeks. It has to be the worst analysis I've ever come across and I wouldn't have believed it if I didn't check it out myself. Isopatch would have you believe he's a PRO and he knows what he's doing.
On December 29, Isopatch was still pushing the E&P sector. He had this to say:
>> And IT AIN'T TOO LATE folks !!!
Let's all make a ton of dough on this run. Long & strong, buy those dips and trade around core positions!
Tally ho!<g> <<
Message 16842475
Would you believe it??? Tally ho indeed! Straight down again, the VERY NEXT DAY after his call that the E&P stocks would do well into January.
stockcharts.com[h,a]daclyiay[d20011229,20020120][pf][vc60][iut]
Now Isopatch may have made a few dollars getting in and out of a few positions, but the facts remain that he was pumping the sector while he was selling out of positions.
Call after call after call has turned in the opposite direction, THE DAY AFTER HE MADE IT. I've got lots more I can show but I think I've made my point.
Things aren't always the way they seem.
Anyone can claim anything but the proof is in the pudding. I think everyone should INSPECT WHAT THEY EXPECT before taking advice from people they don't know.
If anyone would like to get some solid information on the energy sector, then I would recommend the Boom Boom Room.
Subject 50987
The founder is Big Dog. He's in the business. He's a broker for oil rigs, travels around the world putting deals together for various oil service companies.
Jim P, a well respected poster, is a CEO of an energy company down in Houston. He has helped a lot of us make some money in energy over the past year.
A man that goes simply by Frank, has an extensive knowledge of the utility industry and has appeared before congressional hearings due to his extensive knowledge. He's also a college professor. A man of humility and a good sense for energy.
There are several others that frequent that thread with extensive knowledge of the energy sector. Based on Isopatch's past, I would think anyone would be leery of taking advice from him, but it is a free world.
Best of luck,
dabum |
