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Pastimes : Why teach if you can trade? -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (298)	1/25/2001 8:26:10 AM
From: rrufff	Read Replies (2) \| Respond to of 313

Although some of the discussion has been all over the place, this is a good place to discuss some of the key SI gurus. I've been particularly interested in the ones that come on blaring, boasting about their infallibility. You know the ones. The ones that boldly come on claiming that they have taken a position in real time. When you go and get the quote, you see that they have established a record AFTER a move in their favor. Others have their "private sites" calls. They claim to have made their calls behind our public eyes. They only make public the posts on their winners, which in an attempt to manipulate, as it makes some believe that they only win. This is critical to someone charging as much as say $600/month for access to "private sites." Look at the math - if you have 300 members at $600 a month, that's an annual gross of over $2million. What is the motivation? One doesn't have to be a genius to realize, that this type of money causes these gurus to pretend to be right on 110% of their trades. I've seen one of them post that the fees just cover the expenses. Yeah, right. I guess they figure nobody knows how to multiply simple numbers any more. Once a trade goes against them, invariably someone brings that up. The response is always, "I covered (or closed) that long ago at a profit." Many private site gurus use their lemmings in their manipulative schemes. Many of us have seen SI gurus who have someone in their room who issues a "report". This will usually be rehashed statements from an SEC filing, usually very boilerplate. It's not difficult to get something over the business wires. It's not news just because it shows up on Yahoo under a stock symbol. Yet, this is a source of information for so many that it has become a very easy way to manipulate. IMO, trading before releasing that "report" is a further attempt to manipulate in violation of several sections of the SEC code and regulations thereunder. They always answer saying the author of the report does not trade. Of course, in their ignorance of conspiracy law, they blatantly talk about their open positions that mirror the report. Often times, they are able to get respected news wires or publications to issue something that tracks the original report. All this together is a new form of manipulation that has sprung up in the past couple of years. From information I have been able to obtain, I believe that the SEC is investigating some of the connections and schemes here. They will always come back and say that their behavior is similar to analysts who give glowing reports and then dump. I am not condoning that and believe that the SEC will eventually turn to manipulative behavior by analysts. For this thread, the subject is those who "teach" when they claim to make millions trading. The real answer to the thread question is that they can't trade. They make money manipulating and collecting fees. There have been a few SI posters who don't come around and boast, bash, hype. They post very quietly. I can't really call them "gurus". They are more "predictors" who post their trades in some variant of real time. They don't tend to have a lot of "lemmings" telling how wonderful they are. A couple of the posters on this thread fall into that category. Although I haven't analyzed their records, I like the style. It speaks for itself. If you want to pay for their advice, do your analysis and make your own decision. They don't have "lemming" salesmen coming over trying to convince us of the perfection of their "gurus." The ones that get me are the blowhards, usually with unsavory backgrounds who are able to get their lemmings to post FUD or hype either on their behalf or on the behalf of their picks. In thinly traded stocks, even stuff on boards can affect the price.