Can anyone suggest a good stock and/or emini trading chatroom - preferably where signals are given in time to be taken, like Pristine, Reality Trader, and LBR Group. Your favorite ones, as well as any insight or guidance would be appreciated. TIA
www.leavittbrothers.com is really good technical site that focuses on stocks. His PM observations and weekly reports are informative and thorough. Long and Short stock picks based on various technical patterns, and the message board is pretty good. Mostly information, and not too much bashing. That and lbrgroup.com are the only ones i look at for stocks. Hope it helps.
Don't take too seriously posts from someone with 1 post. They are often shills looking to direct people to their websites.
Jack Broz.. crafty ex pit trader that runs his room directly from the floor of the CBOT.. YM and bonds only
Thanks Guys, I am familiar with the Paltalk scene and occasionally participate in one room or another. On the other hand, both www.leavittbrothers.com and www.themarlinletter.com look interesting - I'll take a better look. J
themarlinletter can be ignored. I went over their whole site, and there is nothing about their past trades - track record, archives of past trades. But of course, they have the standard "testimonials." These are all hallmarks of advisories that have no value, based on many past reviews I have done. It is basically "pay us money and hope we are the 1 in a hundred that actually outperforms." Leavittbrother at least has an archives, but the fact they call it a "sampling" of their trades mean that it also can be crossed off the list.
I've been in the room, he's the real deal.. his partner Saul is up behind the glass trading 200-500 cars at a time.. he told everyone to go long one day because he spied the worst broker in the pits selling, was a funny moment and sure enough the market took off.. the sharks love him and he goes around talking to them to get a feel for the market..and it is a bit of a buzz having the trading room right there on the floor of the CBOT
The Investment Advisor's Act of 1940 is the one which governs RIAs. (Blogs and websites not necessarily regulated by the 1940 Act.) It allows for the "advertisement of performance", but only if ALL of it is disclosed. That is, if you claim ANY performance for any period, you must disclose your ENTIRE track record. Do you recall ever seeing an RIA track record advertised? Nooooo. (I once had a story written about me in a local business journal where my track record was disclosed. Within 10 days, the SEC was at my door performing an audit "for cause". Fortunately the story was complete and accurate, so the audit ended up being only a nuisance.) If you are looking for performance before plunking down your cash, suggest you follow the 1940 Act's requirements about track records.