OT: Nick Guarino, The Wall Street Underground newsletter and the Crash of 1999greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Recently I have been made aware by Pastor BB's past post that the Stock Market is going to crash very soon.
I have learned about Nick Guarino, who is a financial genius disillusioned by Wall Street manipulations and a man who has made over $500,000 in profits from Wall Street.
What do you know of Nick Guarino? Apparently he became disgusted with the Wall Street insider manipulations and decided to form his own company. After he defected from the corrupt insiders, he formed his own company and has benefited his subscribers with many financial gains.
For $100 anyone can subscribe to his Wall Street Underground newsletter for one year. Since that printed report is not always adequate, for $5000 one can get the latest news via telephone, fax, e-mail or web site in cyberspace.
Are there any of you out there who know Nick Guarino personally?
Nick has called the fall. On 21SEP99 the crucial bear run began. Since then there have been fluctuations, but for the most part, the DOW has been down as he predicted.
Make your purchases on the shorts to generate a cash flow, then let that leverage more to score the really big gains.
I want to warn the optimistic bulls that if you hope to hold out for the long run, then you are stupid, really stupid!
-- Randolph (firstname.lastname@example.org), October 02, 1999
Nick is a great read, but usually lousy advice. Had I taken his advice a year or so ago, I would have lost about ten million times my net worth. His market timing is unbelievably bad, but he might be correct now.
Read and enjoy, but don't invest the money!
-- dave (email@example.com), October 02, 1999.
I've not heard of Nick, but the government is doing all it can to prevent the crash with it's rules and regulations and buy programs. I think there will be another upsurge to test the highs, especially if the interest rates are not raised this week and a bias for tightening is not put forth. However, the crash is inevitable; whether it be Y2K induced or not. My polly wife will not close her 401; but I do control where her money is invested within the fund. I feel a move with the blue chips to back over 11,000 is not an outrageous gamble ; and when that point is crossed I'll move it back to the money markets (her safest haven).
-- DGBennett (firstname.lastname@example.org), October 02, 1999.
I subscribed to WALL STREET UNDERGROUND in the fall of 1996, and back then, Guarino was calling for a "Clinton Crash"! His publication schedule iss erratic, as I had a sub for 12 issues, but it lasted for over 2 years!
Last I heard, which was the summer 99, he was saying that a 2000 point drop was a given, as it would only take the DJIA back to where it was last fall B4 the 19.8% drop.Well, DUH.
hE MAY BE RIGHT; HE MAY BE WRONG. If you get lucky, and have SPX or DJX puts at the 100 strike(=10000 DOW), AND we get a 1929-type drop, you'll be rich.
BUT, will you be able to collect on the puts, as the markets will be in total chaos.? The govmint might just close them!
-- profit_of_doom (email@example.com), October 02, 1999.
I have read Nick's stuff for a long time. Aside from the obvious desire of his to sell 5k fax services, he has made dire predictions for along time. His present(very recent)letter continues the line that Greenspan wants to bring down the stock market. And that he will raise interest rates many times. Oct 5, Tuesday, is FED meeting. Many people say there is no Inflation-reason to raise rates. Also,it is quite clear that a rate increase at this time will sink the markets. Nice test for what Guriano predicts: if he is right, they WILL raise rates! Watch what happens on Tuesday and you can see if Guriano is right! Wolfie.
-- wolfie (firstname.lastname@example.org), October 02, 1999.
Let's see...$5,000 for a fax service that may or may not give me the latest information vs. $5,000 for say...160 oz. of gold or 4000 shares of Pan American Silver or 2 M-1A NM rifles and a few thousand rounds of ammunition or enough food to feed a family of four for a year or two...
-- chairborne commando (email@example.com), October 03, 1999.
In 1996 Nick was so sure that market would crash that year, that he offered one year free newsletters if he was wrong. That is why people got two years of his newsletter for the price of one year.
-- freddie (firstname.lastname@example.org), October 03, 1999.
I have been getting Nick's letter since l995, I only paid for it once, but have been receiving it ever since. He has never been right, and like a poster earlier on this thread, if I had taken his advice, I wouldn't have a cent to my name. He might get it right sometime, maybe. I think he makes his money selling his fax service. He's a great read and highly entertaining, and even a greater salesman. His whole newsletter is completely one long sales pitch.
-- thinkIcan (thinkIcan@make.it), October 03, 1999.
Here's my market prediction, and it won't cost you anything (and it's worth at least that:-)...
Major Wall Street crash on OCTOBER 11.
If I'm right, all of you who heed my prediction and get out of the market can send me $5K...
-- Nabi (email@example.com), October 03, 1999.
Even a broken clock is right twice a day. Nick's track record isn't even that good. I think he has one decent call in the last 5 years, if you could call it that since he would have wiped you out several times over before you could have capitalized on his 'brilliance'.
-- Dr. Roger Altman (firstname.lastname@example.org), October 03, 1999.
I always come back to basic common sense, and you can use it from Wade to Nick: If these guys are so smart about the market, why aren't they rich from it? Why, instead, are they grubbing around selling newsletters and seminars for a living? Is it mere altruism? Well even if it is, they are now so rich from their investments that they can provide REAL altruism- just post all their wisdom on a website for free, and despense with paid subscriptions, books, etc.
-- Spanky (Nospam@spam.free), October 03, 1999.
Nick is an intertaining read, but he's a "one trick pony." The market can only go down for him, so he never even recommends a short- term long position when it's apparent the market's on a rally. I made a lot of money following his recommendations in Aug 98 (dumb luck, as I see it now) and then proceeded to lose all of it in the next two months.
He did say something that made sense, however. He said that a typical rich person has won and lost three fortunes before figuring out how the system really works. With 90 days to go, however, we probably don't have the luxury of time to go through the learning process.
-- rob minor (email@example.com), October 04, 1999.
Is this thread still working... last comment seems be from the 99 era.
-- Jack Tripp (firstname.lastname@example.org), December 08, 2004.
If anyone knows where to subscribe to his letter, I would appreciate a private message to my email box. Thank you.
-- Cheryl Jones (email@example.com), December 10, 2004.