Well, Tokyo Mex is a smart fellow, but he's out to make money for himself first and foremost. The stocks he leaves are usually badly hurt in price for a while, and people who follow him often lose a lot of money. I know I did when I tried to join in with his trades. One time the trade was so messed up that the manager of my brokerage firm investigated it. He found that the little stock usually traded very low volume, but 1/2 hour before Tokyo Mex announced it as his pick to his group, hundreds of thousands of shares were bought up! So much so, trading had to be halted, because the MMs were overwhelmed and unprepared. When the annoucement was made to the group, and we started buying, trading had to be halted again. I got whipsawed so badly if it were possible to lose more than one invests in a stock, I'd have lost that. LOL! I talked privately to Joe Park (Tokyo Mex) about the huge buying before his announcement, presenting just the facts and no emotion. He said to me "**" and "Do I have to hold your hand" and after a few more "**'s" I figured he didn't want to discuss who did all that buying before the announcement. LOL! You know he speaks several languages, but when he doesn't want to answer a question the only words he seems to know in English seem to be "**." Not the language to use with a lady like me.
You have to realize that he will always buy himself before he tells the group to buy, so he will have his position and his shares have to go up with the flood of buyers. And he is always the one to get out first, and THEN announce the sell! So usually he will have to make the most. That's okay, of course. It's his pick! His work! Others are trading on his knowledge! But the times I tried to follow I just got killed. All that was just too fast for me. So I just try to stay away.
No hard feelings on my part, but I don't want to be in the way of his trades any more, because the stocks are always left very low for a while, when his group exits. Sometimes they stay low permanently!
I have three in my portfolio now that are pretty much worthless, which I bought on his recommendation. They serve as a painful reminder to me, not to follow his picks:DFNL, PEAFF and PRDM?? which became SYXI in some sort of reverse split.
--Linda |
