SAN JACINTO, CALIF. (Nov. 9) BUSINESS WIRE -Nov. 9, 1998--Peacock Financial Corp. (OTC BB: PFCK) reported that its subsidiary, Linzy Capital
Inc., earned a cumulative 11 percent return in its first three days of trading last week, using its proprietary program.
The day-trading program invests in equity option contracts and closes its positions by the end of each day. The proprietary program, developed by Linzy
Capital this past summer, was tested for two months using real-time simulated trading to perfect the system. Trading using actual money officially began
Wednesday morning, Nov. 4.
Steven R. Peacock, president of Peacock Financial, stated: "We are extremely encouraged by these early results, and they are right in line with
expectations. The results using real money are matching the results we were obtaining via Phase I and II simulation trading, as earlier reported in
September and October."
Specifically, the returns on amounts invested on Nov. 4, 5 and 6 were 2.2 percent, 3.1 percent and 5.7 percent, respectively. On a cumulative basis, 11
percent profit was earned during the initial three days.
"The dynamics of the market have changed in recent years, creating intraday volatility never before seen. The opportunities day trading affords, whether
it's an up market or a down market, are unprecedented. Our program has absolutely huge potential, and we plan to increase the amount of money
invested each day from five figures to six, and then seven in the very near future," Peacock added.
Peacock Financial is a registered BDC (business development corporation) with 22 years of real estate development experience in land assemblage and
planning, infrastructure design, construction and inner-city redevelopment projects. The company is in the process of acquiring 100 percent of Linzy
Capital, which is based in Las Vegas and serves as Peacock's investment banker.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are
forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the
forward-looking statements, including but not limited to certain delays beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the
Securities and Exchange Commission. |
