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Microcap & Penny Stocks : Short Term Picks From the 'Whiz' Kid -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (8810)	11/10/1999 12:09:00 AM
From: Lola	Read Replies (2) \| Respond to of 9115

I guess it really depends on how many calls a particular person can generate to the SEC offices and the total amount of investor losses caused by that individual's activity. I imagine Tokyo Joe has done more than his fair share of sending people screaming to the SEC. I also am convinced that he does not work alone. In any type of major front running there's always a front man and the rest of the people (some of them brokers and brokerage house traders) in the background. What you see with someone like Tokyo Joe isn't usually all there is. The SEC knows that and any thinking person knows that. I've observed this Tokyo Joe live in a chatroom and received his service for a month. I didn't trade his stocks . . . my intention was to figure out exactly what he was doing and if I thought what he was doing would be considered illegal by the SEC. Let me tell you that guy is living on borrowed time and he's not that bright so I doubt he's covered any of his tracks properly. He makes references to brokers all the time when he makes his picks. He doesn't come right out and say broker X told me this . . . it's all implied and I'm sure like me the SEC takes note and acts on these things. His stocks do not go up because he is a genius. I am not usually this unkind to people but that guy is a complete moron. He talks about things like doggie doo . . . he actually sent out an email once about doggie doo . . . how can I take financial advice from somebody like that? I am completely against the idea of somebody "picking" a stock. Although the idea itself is not illegal, I think it's moronic and if there are people out there who trade stocks based on this they will eventually lose their butts and they deserve it. I believe in watching people post their buys and sells in realtime and give brief explanations of what they expect from the stock within the next few hours. I have learned so much from doing this that I now almost exclusively post on a thread where posters all follow this rule of posting their entry and exits in realtime. After a while you figure out who is a good trader and who is not. Also it helps you to learn from other people's mistakes as well as your own and nobody can bullshit you when they are required to post their trades in realtime. Being a good front runner does not make you a good trader or a good stock picker. In fact if that's the only way you can win, you would probably suck at daytrading. A good trader will not be concerned about whether he should post before or after he makes his trade. I often post that I'm thinking about buying a stock minutes and sometimes seconds before I do it. I guess I have a little more confidence in my abilities than some people . . . I don't know . . . but I don't think that being the first one in is always an advantage. I don't follow any of the American gurus because although they might not be involved in what the SEC would consider front running, it is still front running to me and I'm not stupid enough to follow the crowd. I don't care how well known the poster is . . . I'm not buying their s*it. Lola:)