Jack Carters Book "Profit Rich Stock Trades" Review

[Deaddog]

It is a no win situation for both Deaddog and Hags. you can lose but you will never win. I wouldn't give one ounce of credence to this guys system by participating.

Ski: I see where you are coming from. Pick 3 stocks and see how they act for a week is downright silly. No one trades that way.
Still, I want to see Phoenix make some kind of call with entry price, stops and targets.
It’s all fine and dandy to offer daily picks, but what good are they if you don’t act on them.
Phoenix stated “I will utilize the lessons learned from Jack's Profit Rich Trades”. I read the book and I want to see how he interpreted the material. He claims the book was worth the price. I would like to see what Phoenix thinks he actually learned for the 8 bucks he spent. Will he be able to turn what he learned into a profitable trading system?

As far as winning or losing; it doesn’t really matter. If you are going to be a winning trader the first thing you have to learn is how to lose.

[skiracer]

So you are saying that Jacks system is strictly mechanical.
I thought I read that he had his exits in place before he placed a trade.

what he is saying is that he doesnt have enough confidence in Jack's picks to buy them himself but doesnt care that he posts them here where someone that doesnt understand who Jack is might buy them. It is a no win situation for both Deaddog and Hags. you can lose but you will never win. I wouldn't give one ounce of credence to this guys system by participating.

[Deaddog]

Actually I think I'm going to buy or short my picks each week...1% of the portfolio or a max. 100 shares each pick should keep my interest....

I'll double check after Friday's close and lock my three in then....any gains at the end of the year will go to charity....

....throw some live bait on the hook and join in.....

hags

The Dogs picks will be real money plays. Thats why I won't be using the open on monday but will be buying with a stop limit.

[Deaddog]

I may not buy my picks , but this will not affect the outcome since all will be MECHANICAL!

So you are saying that Jacks system is strictly mechanical.
I thought I read that he had his exits in place before he placed a trade.

[hags]

I may not buy my picks , but this will not affect the outcome since all will be MECHANICAL!

Actually I think I'm going to buy or short my picks each week...1% of the portfolio or a max. 100 shares each pick should keep my interest....

I'll double check after Friday's close and lock my three in then....any gains at the end of the year will go to charity....

....throw some live bait on the hook and join in.....

hags

[hags]

Oops....I just realized I filtered the A+ list to end up with those top three....maybe a step by step of the simplified system....

1.) Current Market Call is "Confirmed Rally":.....go long

2.) Current A+ stocks off of IICs Power Rating List (using the handy dandy list converter as well): SYNO , ZOLL , RGR , HITK , BKI , CBM , EBIX , ASPS , ANIK , CNC , CAST , ALXN , KOG , RAM , LQDT , UAN , SPPI , DXPE , OZRK , SIMO , HS , UTEK , SXL , SLXP , CRMT , CRBC , PRIM , CFX , ROST , FAST , WWWW , SCSS , GBX , TLEO , MDF , TRAK , VOXX

3.) List copied and pasted into Finviz Screener and filtered for the following fundy criteria:
EPS Growth next 5 Years: Positive
Sales Growth past 5 Years: Positive
EPS Growth Qtr over Qtr: Positive
Sales Growth Qtr over Qtr: Positive

List reduced to: ANIK, CAST, CBM, CFX, CNC, CRMT, DXPE, FAST, GBX, HS, KOG, LQDT, ROST, SIMO, SLXP, SYNO, TRAK, UTEK, ZOLL

Sort final list via lowest P/E: HS, CRMT, CBM

Buy at the open on Monday, exit at Friday close...7% stop loss from entry....target the moon....

Summation (from IIC): "Trade the best fundys when the techs are best"....and vice versa for our experiment...

hags

[Deaddog]

Won't hold you those Hags; Give me your picks on the weekend; Any target?

[Phoenix7]

Hags

If I may, I'll give you three as well using a simplified system off IIC's website....

"Market Call" determines position....long or short
Top three P/E of A+ IIC's Power Rated stocks if long...
Bottom three P/E of E- IIC's Power Rated stocks if short...

Next weeks picks HS, CRMT, CBM

7% stop loss and buy at Monday's open.....

hags

HAGS you are in , and we will make this a 3 Card Monty , I will have my 3 picks by Sunday but we will use Monday's OPEN and go until Friday's Close . I may not buy my picks , but this will not affect the outcome since all will be MECHANICAL!

[hags]

If I may, I'll give you three as well using a simplified system off IIC's website....

"Market Call" determines position....long or short
Top three P/E of A+ IIC's Power Rated stocks if long...
Bottom three P/E of E- IIC's Power Rated stocks if short...

Next weeks picks HS, CRMT, CBM

7% stop loss and buy at Monday's open.....

hags

[Deaddog]

How much should we risk on each trade? To make it realistic I’d suggest $500.
This will determine the position size we take.
Divide the distance to your stop into $500 to come up with the number of shares you will buy. So if your stop is 50 cents away you buy 1000 shares and if it’s $2.00 you buy 250 shares.

I see Jack like to buy on a rising market. Will an hour into the trading day be enough for you to determine if you want to buy?

I’ll be entering my trades with stop limit orders. I’ll set them on the weekend.

[Deaddog]

OK 3 picks it is.

Make the pick over the weekend. Start price will be the open on monday or do you want to use a limit order for monday to protect youself from gaps?

If the price hits your stop or target during the week do we consider the trade closed?

[Phoenix7]

Dead eye

Hey Phoenix 7:
Give us your 5 picks, entry price , stops, and initial target. lets see how well Jacks system works.
If you want to make it a contest I will give you 5 picks.
Who knows maybe they will be the same.

My picks are usually recorded in the lazy dog portfolio which is a real money portfolio. Right now I only have 3 positions as I am waiting for the market to make up its mind which way it wants to go.

Dead Eye Let's cut it to 3 picks beginning with Friday's close 1/13/12 to the 1/20/12 close on Friday. Picks must be in by Sunday 1/15/12 This will make in simpler! Friday the 13th will be our start price and Friday the 20th close will be our final price.
Let's take it to the mats LOL ! Hey we will both learn something .

[Deaddog]

Ski How about a friendly stock challenge? ......BASED on this coming FRIDAY'S 1/13/12 CLOSE PRICES Select any 5 stocks you wish that are on either the NASDAQ, AMEX or NYSE stock exchanges . I will also select my 5 from the same exchanges . All stocks chosen will run for 5 DAYS until the close on Friday 1/20/12. I will utilize the lessons learned from Jack's Profit Rich Trades, and then we can evaluate the performance of all 10 stocks to see which ones made the greatest percenatge gains over that 5 day period........ARE YA ON ? Picks should be listed by DEADLINE SUNDAY 1/15/12
PHOENIX 7

Hey Phoenix 7:
Give us your 5 picks, entry price , stops, and initial target. lets see how well Jacks system works.
If you want to make it a contest I will give you 5 picks.
Who knows maybe they will be the same.

My picks are usually recorded in the lazy dog portfolio which is a real money portfolio. Right now I only have 3 positions as I am waiting for the market to make up its mind which way it wants to go.

[skiracer]

Ski I respect your right to decline ........no problem! I will check out HOV and GCA!

nothing personal phoenix. I would still like us all to participate in a weekly contest and you can get your picks from anywhere or one that you want to and give the credit to them if you want. I wish everyone would have looked them over earlier before they started making their moves. HOV is up over 120 % and GCA is up 24 %.

[Phoenix7]

Decided against it Phoenix. see no use in legitimizing this characters system or name in any fashion. Check out either HOV or GCA. These are indicative of the type of stocks I bring to this forum and my friends. my track record or picks dont need justification only the attention of those I so graciously let in on them and for free.

Ski I respect your right to decline ........no problem! I will check out HOV and GCA!