Shades, Don't pay too much attention to Phil, except for the entertainment value and he has a lot of that. I am subscribed to his pay site ($39/mo) and think I'm gonna drop it. His long picks are just not very good, what he mainly does with these is just jump in and out of the same large cap stocks, BUD INTC MSFT ect. and his timing is not too hot. He also tends to "cheat" a little, claiming he bought stuff a little better than would have been possible. He is doing alot better with his short picks (currently AHC,GR,FPL,YELL,KBH,CTX,X) but many of the stocks he rails on and on about on his radio show HE is not short either. In other words if HE KNEW from looking at the chart the GM HDI ect were going down...then why did't he recommend them as shorts. But to his credit, I have tried several of these "paid advisers" and none of them have been any good.
The EA direct is just a Level 2 and about all the discount brokers offer one; I use Schwab's. His big tale about the "bad prices" you get on web based trading is just not true, I have made trades on Waterhouse (web trader) and watched the market on the Level 2 and generally the web based is fine, sometimes it even works in your advantage. For agressive day trading Level 2 is a must and I like the Level 2 for the view of the market it offers. His "instant analyst" is not worth much, you can get the same stuff for free with stockcharts.com and others.
I used to listen to the "Stock Doctors" on 1470 but I think they got the boot. They are over at Orlando. Tried their pay site too and its not worth much either.
I think yo have to be a little bit the Buffet type and a little bit like Phil. By Feb 2000 I had sold every single share of stock and that turned out to be a super good move, despite the cap gains tax. Part of my motivation for doing that came from reading very sensible explanitions by many posters right here on SI, notably Earlie and Michael Burke on te Clown Free Zone board.
Slagle |
