Here is a classic example of the type of hindsight trading that is then later translated into the “realized profits” that constitute bragging rights, and presumably will be used to bait the hook for the selling of subscriptions to the unwary, naive and just plain dumbass.
Bought GS @ $125.01
by alphadawgg on September 19th, 2008 at 12:33 pmEarlier this morning, I bought Goldman Sachs Group, Inc. (GS: 133.87 +23.95%) , @ $125.01.
The game has officially changed. The scenario now becomes increasingly more viable for banks to come out with new equity offerings as their stock prices will most certainly increase. The “don’t short…or, we’ll kill you!” policy promulgated by the SEC/Treasury/Fed triumvirate, while egregious, is what was needed to stop the hemorraging .
To get that price, you would have to have purchased circa 10.55am at the latest. Sure, some blog clocks are really out of whack, simple, just capture the chart when you actually buy, time stamps are taken out of the equation then. I did actually check posts against the market clock, and they seemed to correlate very closely, so I’m even less inclined to accept this as a mitigating circumstance.
ducati998 
September 19, 2008 at 6:12 pm
Is alphadawg part of the group that produce this software?
September 20, 2008 at 6:02 am
Kat,
I really have no idea, but I don’t think so.
It would more likely be Jeremy, who you don’t hear much about, but is the IT guy.
Is it possible that iBankcoin can succeed where Hedge Funds/Banks/Broker Dealers have spent 100’s of millions of dollars on IT and have access to the best mathematics that money can buy…and have failed?
Sure it’s possible…but unlikely.
It’s unlikely because so many of the good calls are hindsight calls, where the security has already moved into profit.
There is also an element of editing past posts.
Where you see “Developing” what you have now is a Time Stamped entry, with nothing there.
A few weeks later, when things have moved on, back he goes and enters…Buy XYZ @ advantageous price and bingo, instant profit.
Pointless exercise unless you are psychologically insecure, or, planning to fleece future customers.
jog on
duc
September 20, 2008 at 7:48 am
Hey, doc, you’re accusing people of lying with no proof. Why couldn’t the guy have bought at $125.01? It dropped to $122.50 and stayed under $125 for almost 10 minutes.
September 20, 2008 at 8:22 am
Mr Toad,
Yes the price was definitely possible. The price and the “time” the trade was disclosed is the problem.
Now, if you’re simply blogging for your own pleasure, I have no problems with that at all viz. disclosure being accurate.
However, if you’re blogging to build up interest so that you can sell a service…that I have a problem with.
If you are marketing a future product, then you need to be TRANSPARENT and wholly above reproach.
With regards to “proof” I would say that the majority of cases I have no proof, as I was unaware that this was a marketing ploy.
Now that I am aware, I shall be gathering circumstantial evidence.
I have added the intra-day chart of GS. Look at the timestamp on alphadawgs post, and now look at the prices.
$125 was not possible @ 12.33pm Additionally, iBankcoins time stamps correspond to the market, I checked.
If, you were to subscribe, I should demand independently audited accounts prior to parting with any money.
Of course, should iBankcoin provide me with iron clad evidence that I am in point of fact mistaken, I shall post a complete retraction and abject apology.
jog on
duc
September 20, 2008 at 9:17 am
Well, he said “earlier this morning”. It definitely could be true. So you’re saying he should be blogging in real time if he uses his blog to market a service? Valid point but still.
Regarding the guy making $330K a day, I’m really impressed to say the least. He lost $60K just a couple of days before that. You need a nerve of steel to trade like him.
September 20, 2008 at 9:19 am
…. This is all just…
to be honest, the worst thing They could do is pay for that poor ass advice.
Ok, that isn’t universal, but They need to pay me to heckle. The 5 times a month I read that blog and find it so stupid I have to say something.
And a time or two, it’s gotten threw that thick scull.
But Pay!!! to keep him from suffering the “Echo Chamber that is his head”…
That is funny, I’m the one that should be paid.
September 20, 2008 at 9:37 am
Mr Toad,
Of course he said “earlier this morning” he had to if claiming a $125 price when GS was printing $135
He now looks rather clever, he’s after all showing a $10/share profit.
If you’re simply blogging, then who cares really…if you need to cheat, so-be-it, you harm no-one.
But, if you are marketing, in anticipation of sales…that’s FRAUD.
Indeed, the traders swinging those P/L’s, insane…too much for me.
jog on
duc
September 20, 2008 at 9:39 am
Eric,
I have noticed less & less heckling. I am banned everytime I post criticism, I’m sure this applies to everyone.
Of course, if you are marketing, you don’t want negativity to spoil your pitch now do you?
jog on
duc
September 20, 2008 at 4:19 pm
Duc, you should set up your blog to email new comments, I sometimes forget to check back.
September 20, 2008 at 4:29 pm
Kat,
That sounds a bit technical. Hell, girl, I added a “latest comments” box!
What more could you need?
jog on
duc
September 20, 2008 at 4:44 pm
After I left this comment, noticed the box.
It helps a lot 🙂 Can you make it show 20 latest comments? You should be able to.
September 20, 2008 at 4:47 pm
Kat,
I’m trying to figure out how to get it to the top of the page, scrolling is just so droll.
jog on
duc
20 comments….do me a favour!!
September 20, 2008 at 5:17 pm
Well, you now have these long conversations here, it’s easy to miss something interesting.
Send me your sidebar file, I’ll move it up for you.
September 20, 2008 at 5:46 pm
Kat,
Damn, but I’m a clever bastard.
jog on
duc
September 20, 2008 at 5:54 pm
Yes and No will both be offensive. Let’s just leave it at “You’re clever” 🙂
Make it 20, or at least 10. 5 is too few.
September 20, 2008 at 5:59 pm
Kat,
Five sits comfortably with my aesthetic inner psyche, it just looks nice.
jog on
duc
September 20, 2008 at 6:13 pm
LOL
7. Seven is a nice and lucky number. That is my final offer.
September 20, 2008 at 6:18 pm
I just want to add to the long string of comments.
September 20, 2008 at 6:20 pm
I feel slightly guilty now for diluting this blog.
September 20, 2008 at 6:20 pm
Kat,
Bloody women, can never take no as an answer, they convince themselves that no is short for let’s negotiate until you give in through total exhaustion.
FIVE…………..
jog on
duc
September 20, 2008 at 6:25 pm
Duc, the proprietary service is objective and has nothing at all to do with the success or failure of any of the iBC bloggers as traders.
Let me highlight your bias by mentioning that you have NOT mentioned that a slew of ADawgs trades tanked on him, all of which were disclosed as losses.
I can’t see, when losses are being disclosed as losses, how you could think that ADawg was somehow “baiting the hook for the selling of subscriptions to the unwary, naive and just plain dumbass.”
Finally, how do you see this as a marketing ploy? There has been very few mentions of the service by the iBC bloggers, save for The Fly. In fact, I do not recall any blogger stating that a trade was made as a result of the software under development.
September 20, 2008 at 6:36 pm
Water wears down the stone.
And for that reason, women would make the best politicans. No wars, just lots of nagging.
September 20, 2008 at 6:41 pm
Wood,
First off, do I have a bias? Yes I do, so all I write should be taken in that context.
With regards to the proprietary service. Flip-Flop-Fly stated that “this is my calculator brain coded” thus, his current track record will [or should] be the basis for judging the profitability of said service. Thus no trades taken as a result of said software is not strictly correct. Arguably, all of his [FFF] trades are generated via the software.
Marketing has been taking place subtly for some time, Danny most certainly has been quite vocal in his own proprietary undertaking and that of FFF.
With regards to ADawgg and his portfolio. I’m aware of a couple of portfolios that he’s run, and they have not been in real time. Now that’s fine. I have no problems with that at all…as long as the blogging is free.
If the subscription based service is put into effect, then, AD posts, that are well behind the market action, effectively count for zero, as they are all hindsight posts.
Returning to FFF, how would someone, who was going to subscribe for the service, actually know what they were paying for?
FFF is marketing an unknown, unproven, system on the basis of his market acumen, while his acumen is based on fraudulent entries.
jog on
duc
September 20, 2008 at 6:45 pm
Kat,
I’d almost believe you, save for Maggie and now Helen.
jog on
duc
September 20, 2008 at 6:51 pm
Duc, it is my understanding that nothing will change with the blogs, once the service becomes available. If people want to subscribe, they can. However, if they don’t subscribe the website will still be the same.
As for the service, it is a lot like Fly’s brain, coded. However, it is not a system, as you are thinking of, that recommends entries and exits. It is instead a unique way of thinking about fundamental and technical analysis. A very simple explanation is that it is a very complicated filter.
For example, the market turns on a dime, a bailout is mentioned, and you want to know, within a few seconds, which financials are the most heavily shorted, but you also want only the most liquid equities…The PPT will do that for you, very easily, and very quickly.
Now that is a very very simple explanation of only one function, but I hope it illustrates for you why you are off-base in your criticism.
September 20, 2008 at 7:03 pm
Wood,
As regards the blog, no of course not, it is an excellent marketing tool for his paid service. So I would be shocked insensate if it were taken down.
A unique way of thinking about fundamentals…don’t make me laugh. He is clueless as far as fundamentals are concerned…MVIS anyone?
Technical analysis…please, anyone can learn TA in about 10mins…implementing successful TA has little or nothing to do with TA however.
For short squeeze etc, loads of free resources. Really, he’s selling to the LAZY, naive, and dumbasses.
My criticism is that he is a fraud and a liar, who alters entries to pump up his fictional returns, none of which can be tracked unless you devote huge amounts of time to catch him out.
If he is so above board, why do I constantly get banned for arguing against his totally lame fundamental analysis?
jog on
duc
September 20, 2008 at 7:38 pm
Duc, you are throwing loads of red herrings into this discussion. Frankly I’m surprised by that.
I have already told you that the service is completely objective. Furthermore, it is user-programmable. Therefore, whether The Fly has any knowledge of fundamentals is really inconsequential since the company’s results creates the fundamentals, not Fly’s brain.
If this is about The Fly, for you, and not AlphaDawg, and you state that you believe AD is not part of the software development crew, then really this post is about The Fly and the PPT, and nothing else.
I guess therefore that mentioning AD’s record of disclosure for gains and losses was not important.
September 21, 2008 at 5:48 am
Wood,
Red Herrings? Possible, but I don’t think so. FFF has stated that the software is his brain coded…I can go and try and find the quote later if I have time.In fact, you state exactly this in your previous comment above.
Now, to screen for Fundamentals, many services offer this for free.
However, if you don’t understand fundamentals they will help you little, as they contain alot of traps for the unwary. As FFF is totally clueless on the fundamentals, where’s the value?
Technical screens, again loads of free ones, interpretation and risk management are the key’s here, not the scan, so again, where’s the value?
Short interest…ditto.
Therefore, really it’s bodering on a complete scam, again MARKETED under false data.
Why was FFF never registered under 13D as a 5% holder of MVIS?
Why do T&S data never register his buy/sells?
Why are entries edited long after the fact?
Why no transparency on results?
Why anonymous? Selling a serevice while being a registered professional…are you kidding me? That’s lawsuit material right there.
Where are his audited accounts?
There are others, but I’m sure you get the picture.
ADawgg, and all the bloggers are about building a potential subscriber base. The more people who regularly use iBC, the more “potential” customers.
I target Adawgg, Don Juan, primarily due to their fawning hero worship. So much so, that to gain the approval of the general community, it seems that they have taken to posting hindsight trades to bolster their reputations.
jog on
duc
September 21, 2008 at 11:52 am
ducati–
I realize that you have nothing better to do than tear others down. That is a bad reflection on your character.
Frankly, I shouldn’t give you the time of day with a reply. Just know that often times, I don’t post trades immediately. I have a business to run and important people to talk to, unlike you.
You are desperate for attention.
September 21, 2008 at 7:35 pm
alphadawgg,
Then really don’t bother, lame excuses are so boring.
The C/P says all that needs to be said.
jog on
duc
September 23, 2008 at 4:10 pm
Couldn’t agree more Duc – investors should demand audited returns from a blog (or anyone) for that matter selling investment advice. If it’s not audited, it doesn’t count…period. Here’s my own contribution to that discussion:
http://marketsci.wordpress.com/2008/08/07/if-it%e2%80%99s-not-audited-it-doesn%e2%80%99t-count/
There’s just too many snake oil salesman out there. I’d go so far as to say we’re almost all snake oil salesman…
ms
September 23, 2008 at 4:13 pm
Addendum to my previous post – despite my scathing opinion of unaudited results, that wasn’t necessarily a knock to ibankcoin or any other service. I follow posts on their blog but don’t have enough experience with their pay’fer service to have any opinion on it. Just covering my bases…ms
September 23, 2008 at 7:41 pm
marketsci,
Blogers that just blog, are entitled to do whatever they please, as hey, it’s their time, blog etc and it’s free…you don’t like it, well so what.
When you make claims to be a Wall St professional, and you are going to sell a service…now you’re entering a very different arena.
We’ll see how things “develop” and if it’s absolutely the dogs bollocks, well, I’ll eat my hat.
jog on
duc