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Tom:
Gee...you didn't leave much for me to lamphoon!! Oh well...I guess
I'll just go back to trading.
Tim
Tom Cathey wrote:
>
> Hi Everyone -
>
> A friend of mine called me tonight to get me to read something in March,
> 1998, Futures magazine.
>
> After looking it over, it appears something has apparently changed. <g>
> They were really a good mag years ago.
>
> For those of you not subscribed, here's a sample of what's in this
> issue...it's really a scream -
>
> Get This:
>
> Full Page Ad: Page 23- "Master Suite Does It Again!" R&W Technical
> Services, LTD., Houston..."You can begin earning triple-digit returns
> almost immediately with the R&W MasterSuite".....
>
> Page 12: Article: FRAUD - "Trading System Ruled Fraud" .... The CFTC
> charged R&W Technical Services, LTD. in Houston ...with fraudulent
> solicitation, false advertising.....court ruled a $7.1 million fine..."The
> CFTC doesn't believe that ANYBODY has a system that works...."
>
> AND...Futures Magazine still ran their ad!
>
> Full Page Ad: Page 93-
> "Amazing New Workshop Reveals Secrets Previously Available To Those Who
> Paid $100,000 or More!" (send $995 to find out)
>
> Page3: Robbins Trading will help you pick a system and trade it for you -
> (gee, I can play golf while your brokers make me rich?)
>
> Page 4: Full Page: Advanced GET shows it picked the exact tops and bottoms
> in (15 minute bar) Bond market with "new indicator" [hmmm....what happened
> after that 3 day sample?]
>
> Page 9: Winner! Best Options Analysis Software- OptionStation- (Notice the
> endorsers- more cross endorsements)
>
> Page 21: There's Louie Mendelson, "The Father of System Testing" - [Is that
> like the godfather of Soul?] Tells you to "Stop Trading Blind" (Pushing
> neural networks - the most optimized mush ever created by man)
>
> Page 24: Front Running Scheme Uncovered - Couple guys made $2.4 million
> putting trades in ahead of John Henry. May do 2-4 years time. (Well, at
> least THEY made money)
>
> Multiple Pages : Various articles by Trader Wanna- Bees talking about how
> they have all the answers and here's how it's done. Summarized by one
> article - beginning statement : " The simple classic channel breakout
> [breakdown] system, using a 10-bar breakout on a basket of markets, we used
> last month, had results that showed consistant profits over all markets
> analyzed but a relatively low percentage of winning trades and high
> drawdowns"..... (Gee, that's just what I've been looking for -)
>
> Page 61 : WINDSOR BOOKS (Now THERE'S Credibility!) "7 Winners out of
> Every 8 Trades Achieved an Outstanding $677,680 Gain" - (Seasonal Trades-
> More optimized mush)
>
> Page 65: Full Page- "How To Make a Fortune When the Market Explodes!"
> "Easier than you Think" - "You Could Soon Be Making Trades Like These !"
> (It shows a chart of the top of the Yen at the all time high of 125 area)
> "This slide was worth over $25,000 per contract!" (and I suppose YOU caught
> it with that system?)
>
> Page 73 : Full Page - "The Secret To Making $1 Million in 5 Years or Less!"
> " I am already on my way to $1 million using what I learned in your
> seminar" (Yeah, doing delta neutral option spreads - get ready for the big
> slam, pal)
>
> Page 85: Full Page - "11 All-Star Advisors On One Hotline!" Only $2.95 per
> Minute- "These Market Masters Can Help You Build a Huge Fortune!" (Words
> cannot express what I am thinking about this one)
>
> Page 89: Full Page- "Amazing New Book" "Unlimited Upside Profits - Upwards
> of $5 Million per year is actually being made" "A Florida man has Hit
> 100% Winners and Started a New Career Managing Money"
> (I hope he kept his day job) (More Delta Neutral Hype)
>
> Page 91: Full Page- ...."Here's How to Capture Your Share of the Millions
> That Will be Made" [and lost] -
> "In Early 1997 Wheat Futures earned Profits of 136% in Less Than Three
> Months" [hmmm...Wonder what Wheat has done since then?)
>
> And then the CLASSIFIEDS - HA! It's like every ex-trader who ever blew
> out has an ad running there!
>
> And...there's MUCH more- It's actually quite funny. No other industry
> (other than gambling) lets this go on in such a blatant way. If these were
> automobiles, or computers, or ovens, etc. being sold, the public would
> wise up quickly and stop buying them. BUT...this magazine paints a
> get-rich-quick dream that keeps the new suckers coming in year after year.
> Rock and Roll, baby! <g>
>
> Tom Cathey
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