Click on this link to one of his articles and then click on his name to contact him directly. http://www.thestreet.com/options/options/10266734.html
Why not? If someone will buy them If ppl arn't successful then they won't subscribe. I did a brief free trial to Cramers picks some time back...no human can totally follow him and I tried to "cherry pick" what I though were good but they turned out to be dogs....who know...I know a lot of his stuff is good
DonnaV, you missed the point about following the stock alert or option alert. That is why I assumed that one would follow all of the 4 suggested trades in the option alert and would be underwater by $13,000 in 9 days. Think about this, being a normal person, we are just 50/50 in picking a trade. Now you are only 50/50, and you try to cherry pick a guy who maybe 55/45 (consider all of his picks), what do you get? 27.5/72.5! You would be even worse off than just following yourself! The point is, if you think you can cherry pick his picks, you should be better than him. And if you are better than him, why subscribe to his picks?
I did get a response from Steve about the the 4 wrong trades. I think he must be joking. From: Steve Smith <Steve.Smith@thestreet.com> To: *REMOVED* Subject: Re: Inquiry about option alert subscription and performance. Date: 09-Feb-2006 17:04:17 EST >These are great questions. I am at a loss to explain the poor performance. >I am ashamed. Please accept my apologies. >-steve > >
The Options Alert is still up 5%! Bad week, bad trades. It happens to all of us, unfortunately. Steve Smith will get it back up.
Is it up 5% excluding or including commissions? Are you sure? Did he take into the account of the $13,000 loss in the recent 9 days?
Rumor had it that a thread was unspooling regarding the recent poor performance of the TSCM OptionAlert model portfolio. I figured I should show up, be accountable and hopefully clarify some performance questions Since the inception date of July 18. 2005 (call it 7 months) the model portfolio is up 4.5%- and yes that includes the recent losses. Yes, that is down from 17% just two weeks ago. So yes the last two weeks have been terrible in terms of performance. The reason? I've simply been wrong. All positions have been of a limited risk. Anyone who has traded for any period of time will encounter some bad stretches; doesn't make it any less painful. I take the responsibility and implications of publishing investment ideas very seriously and am the first to acknowledge when I am not performing up to my own or anyones expectations. But be clear, you mention four recent trades; that is four out of some 60 that have been suggested in the past seven months. And you don't quite have the facts straight on those four. HAR was indeed a bust but you fail to note that I had rolled down the short $120 calls to the $115 strike. the loss was $3,900 not $6,000 ERTS was also rolled down; covered $60 calls and sold Feb. $55C. Position is still open and about $2,700 in the red not the $3,300. AMZN was a bad trade. I'll say no more. HRB is still open. Calls bought for 85 cents now at 65 with a five weeks remaining. Not ready to call that a big loser yet. You also fail to acknowledge that during the last two weeks we have had profitable trades in AXP $52.50 calendar spread, long SPY $127 puts, which we took partial profit by selling some this morning's sell-off, and an open position in BZH (short Feb. $65 puts at $1.95) that is currently showing about a $700 profit. For full disclosure I just took a loss in CVH $60 calls. Which hopefully puts an end to a very trying two weeks. This was way more then I intended to write and probably more than anyone cares to read. But felt I should put in my two cents while I still have a few of them to give CoachPhil, thx for the nice words and hope to see you out on the playing field. -steve