Where next for gold-silver and the SP 500 indexes?

Below are a number of emails sent to Dave Banister over the last 4 weeks by some of his extremely disgruntled “partners”. All details contained therein are 100% accurate.

Though a little disjointed (primarily because they are from oneside only), they give an extremely good insight as to why you should avoid ATP (Active Trading Partners); as well as how exactly Dave manipulates facts to hide the reality that he hasn’t made money for at least 15 months…
It is worth plowing through to get a sense of the dangers in trusting online traders.

PS. look at the stocks listed on his Join Us offer and you’ll see that most are now bankrupt or nearly so.

See you’re starting the new year as you left off the last one – losing money… Fancy going short into Jobs-week, the biggest rally week we’ll have for 3 months! When will you learn that your 13- Fibonacci pivot means less than squat! Remember when markets rallied from 1084 to 1291 in a mere 3 weeks and you dumbly stayed 3-times short for the entire move… Well, it’s deja vu all over again.
@ 2nd Jan: “Likely going to see a pullback into the mid part of January in the stock markets”
TZA: Average is probably around 26.05 plus minus
“I added to my positions in TZA aggressively today from 26.08-26.35”
@ 24th “Dec 26-29th pivot highs I have been forecasting” + “Look for the rally to likely continue to no later than Dec 29th, and top anytime from Dec 26th-29th next week”

“I added to my positions in TZA aggressively today from 26.08-26.35”
Stopped at $24.45. So in a few days, while the markets have been rallying you lost -7.2% absolute. TNA is up 8%, so your relative underperformance just since (@ 24th “Dec 26-29th pivot highs I have been forecasting”) is a ball-breaking -16%… Well done!
Bottom line? 1213 is kind of the low end of the 1213-1224 no man’s land, and a solid break below is not good for Bulls
TZA- 26.45 at time of alert, 949 am EST
You sure talk the talk. What confuses me is why don’t you ever walk the walk. You write sentence after sentence saying how fascinating these markets are, how you see a whopping 70% bear scenario, how all your little Fibanacci points scream markets will drop (something you’ve been saying since 12th December, when you said 1209 would fail). Yet on days like this you actually do NOTHING. If you had any convictions in your abilities you’d stop musing and moaning the fact that this huge day passed you by on the short-side and actually go SHORTER still… What more do you want, a letter from NYSE telling you exactly when the fall will start. Talk is cheap. Either say you have no idea, or, after spending the last 3 weeks vainly trying to call a top, and today adding more to your arguements, get on a go aggressively short. It’s of no use seeing you claim the markets will fall, yet you take absolutely no decisive action:
Wave 1- 1158-1267

Wave 3- 1202-1271

Wave 5- 1249-1284 so far

Each of those has a fibonacci relationship to the other. 3 is 61% of 1 and 5 is only 50% of 3… means, be careful of a reversal.

Get off the fence and do something…

I tell people not to pay any attention to what Dave writes, he’s a born bullshitter, he says it’s sunny and raining, markets will rise and they will fall… Rather, watch what he does… He shorted a 200 pt rally, he went long gold just before the crash, he loves RIM etc… So either shut up or actually follow through and do something.. You say you saw this rally, but either did nothing, or shorted it…
You were happy to buy TZA 48hours ago (“I added to my positions in TZA aggressively today from 26.08-26.35”) but you won’t touch it at 10% cheaper…

Hi there,

can you help me understand your trading style:

You were happy to by TZA at 36.5$, yet at 34.40$ you won’t touch it.

You were happy (after doing your special analysis) to buy SSRI at (“Take position now, buy from 20-21 after on dips, and MAX 21.25”), but for some reason $12.70 doesn’t attract you..

You loved RIMM at $19. Nov 16th, yet at 13$ you won’t touch it.

And so on, and so on..And these are not a small selection of what you do, but ALL your trades for the last 5 months.

Are you just trying to jump blindly onto bandwagens or actually make a conviction trade…Why did you go long Gold at 1750$, but below 1600$ you avoid it.

Have you no skill, behavior economics or strategy other than following the masses off the cliff…

Nigel

I don’t understand, 3 days ago you clearly said “Conservative Traders can move your stop higher to 25.50 and “aggressives” leave it at 25.00″.

Now you pretend that some people totally ignored your advice and held on even though:”24.30 lows yesterday”. This was almost 5% below your stated stop (for a huge net 3-day loss). Are you really sure that other members ignored your advice and called you incompetent by not setting their stops as instructed.

Please confirm that YOU were evidently stopped out after saying: “I added to my positions in TZA aggressively today from 26.08-26.35 ranges as well”.

Again, I can’t believe that you set a stop and didn’t actually follow through yourself. Seems even you don’t trust yourself to tell the truth. Either that or you did sell and started the year with a 10% loss in 36hours.. Either way, you need to explain yourself and refund my fees because you are evidently lying about stops…

Hey Dave,
Well done, after telling your partners “those who hung in with TZA, hang in further. If you sold it, consider re-buying and again”, you’ve managed to lose big twice on the same trade in 2 days! That must be a record… Even SSRI, SBAY, BGZ, ERY, TZA, RIMM, SZYM, SODA, TIC, GFras, weren’t that stupid in such a short period… See Dan’s to read what others think of your useless call earlier to buy TZA this morning after losing big yesterday… Happy Down Year chump

I saw that after the disaster of Dec and now Jan on your normal trades you’re trying to talk up the so-called bonus plays (i.e. “Bonus Stocks are not intended for all partners to buy, nor are they covered as core positions or trades at ATP.”.
Can you say something about your most recent one: UBNT i.e. General advice is to buy from 19.50-20.50 ranges
It’s now around 17$ and a bit. That’s a huge loss in just 4 weeks as the market has rallied hard. You claim to hold a position, so don’t keep silent on this dog.

PS: You speak of a 10% move on INVN, but this is only because since your Nov 28th alert “Buy up to 11$) the share crashed as low as $9.2… So, even though markets have rallied hard, the best bonus play in 3 months is flat…. Well done… Shame you also did TZA, BGZ, ERY, SSRI, GOLD etc…losing on average 35% in 3 weeks.

“I added to my positions in TZA aggressively today from 26.08-26.35 ranges as well”.

I will suggest a stop at 25
I write this email as a precursor to taking legal action against you. In today’s fraudulent statement you clearly state: “We remain long TZA”. However, this can’t be. On Dec 30 you wrote: “keep our stops reasonably tight on this trade position still at $25.00 suggested on TZA”. As instructed (I pay you to take these decisions, not for me to second guess your deceits), I instituted a stop at these levels. On Tuesday of this week I was duly stopped-out. Now you claim that the earlier advice was bogus and of no relevance. Because of this fraud I have lost $28,963. If you do not compensate me for this fraud immediately, I will take you to court and expose the lies you have been making for months
Hey Dave,
I read that after your, shall we say, problems with shorting the S&P in early October (before TNA rallied 45%) you went short again in the last 2 weeks of Dec…
How’s that worked out for you…
You’ve gotta ask yourself whether you’ve got any ability in this job…

Don’t forget to pretend to your clients that a stock you bought months ago, and that is down 30% absolute (46% rel) has had a great run over a 12hr period (bouncing 10%!)… Ps: forgetting to mention that you’re still deep under water in a rising market…

Dan’s bet is that by Weds of next week you’re telling how you “forecast this huge” year-start rally (TZA was the best way to play it, yer…) and that the S&P will go to pivot yada, yada…yada…
I’ve been saying for years that Dave Banister is the biggest fraudster not YET in prison. Today again shows just why I make such a claim. He boasted overnight that his “bonus” position (and remember “Bonus Stocks are NOT followed here at ATP after release”) TPLM was up 30%! Firstly, this just shows how badly he’s doing on his normal trading. As we’ve said many times, every trade he’s made since summer has been loss-making (up to -100%), but commonly -60% relative. He daren’t talk about his beaten up “core positions” (down -60% avg). He keeps well clear of mentioning his recent failures in TZA, ERY, BGZ, SSRI, RIMM, Gold, SODA,SZYM etc, so he’s now resorted to making up trades and pretending to have finally found a winner!!!
Nowhere in the records (sourced directly from his many disgruntled “partners”) is there any record of either him buying TPLM or giving any running update. Yet, like magic (or fraud), he suddenly, out of the blue, now claims he’s made a profit on this fictitious trade.
I highly recommend and encourage any “Partners” to bring legal action against Dave for fraud and obtaining money through deceptive advertising… Contact me directly if you need supporting documentation…. Dan
You say “I continue to watch my indicators and remain a bit cautious”. Yet once again your words are totally at odds with your actions… You are 300% leveraged to a high beta short position… In a period when the Nasdaq had its best week in 3 months! This just doesn’t add up. If you’re only a “bit cautious”, then do nothing! Don’t piss my money away because you’re desperately trying to get one call on the downside right after shorting the 1084-to-1291 2-week rally in October! Stop pretending you can read charts other than astrology ones.
I don’t understand you, I really don’t! I’ve been sending you emails since Dec 22 telling you that you were wrong. Remember your emphatic claim that markets would crash on the 29th! So certain were you that you could read the charts correctly (13th Fib week from October low, yada, yada…) that you threw your poor, literally, partners into -300% short positions – not once , but twice in 24hours… I did the same when you again shorted (900%) the great 1084 to 1291 rally in Oct. Yet your expertise and intelligence are so lacking that again you have failed to make a single correct decision…. I know you’ve been fiddling at the margins with your silly bonus stocks (I’ve read how you stated that you don’t hold positions in them, yet when they bounce from their falls, you try to con partners into thinking you’re doing well… Really, most of them aren’t as stupid as you and see right through this scam…). So here’s the bottom line – close off your leveraged shorts and get to the sidelines. Book the huge losses you’ve incurred since Dec 22 and just wait until the bandwagon is so patently obvious before daring to buy or sell anything. You’re completely out of your depth in real-time markets, you have no charting ability, no trading instinct and very little intelligence. Sell TODAY your short positions, for god’s sake!

Just putting these up on your CORE positions (those that you love & hold a FULL position in) so that the internet can see the complete picture:

SA CN down -68% since June.
KLH CN down -59% since Mar.
GFS Cn down -69% since Mar
EW CN down -69% Since Feb
BNG CN down -63% since April
SBAY down -100% since April…
SSRI down -42% in 36hours

Dave doesn’t buy bonus stocks himself, and indeed he openly states that he doesn’t follow them ““Bonus Stocks are NOT followed here at ATP after release”

To understand his performance simply look at his core positions and add in his 300% shorts in TZA ERY, BGZ since the the S&P hit 1084 (it’s now nearly 1300).
His portfolio must be down -73% in the last 12 months.

Do you want your life savings destroyed by -73%? If yes, give this chump your money and follow him to hell…

Well, it has finally happened. Dave has totally abandoned his clients to the winds – in an act of unprecedented capitulation to his horrendous performance of the last year. After calling for a massive market-meltdown to start between December 27-29th 2011, he pushed his badly beaten ‘partners’ into shorting yet another major rally with 300% leverage (remember back at the beginning of October, when the S&P was sitting at 1084, he went disastrously short – buying TZA, ERY, BGZ. Over the ensuing 3 weeks, indices surged 18%. His positions plunged -54% giving a relative under-performance close to -80%!!!). Today, he simply let these poor souls fend for themselves after racking up another -20% loss in 2 weeks. He wrote: “you make the call on what you want to do with the position (referring to TZA)”. He first bought TZA at $26.50. He then bought more the next day, then “I added to my positions in TZA aggressively today from 26.08-26.35 ranges as well” and then “I bought shares in the last 5 minutes or so of trade”. Yet even here he lies. He pretends he hasn’t screwed up by saying it’s only a small position for him… But go figure, he’s been buying non-stop since $26.50 and it’s around $23.80.

And this from a guy who gives a Buy alert with a 12% buy range! How useful is that!
No, the sad truth is that Dave has thrown in the towel. He hasn’t picked a winning stock position since 2010 (see his core holding returns below). He’s missed two of the biggest rallies in years by doggedly remaining short while all the technical evidence cried the opposite. And now, after destroying 20% since mid-December on his TZA trade he’s just said to his few remaining clients “you do it, you get yourself out of this hole, I give up!”

Below is a complete copy of all the correspondence I have sent to Dave over the last 2 weeks concerning his foolish and extremely costly shorting of equity markets (using, absurdly, a -300% short vehicle).
For those who sat in amazement and watched as he again shorted another huge rally – this time from 1084 to 1291 in October 2011, using -300% leverage via ERY, TZA & BGZ, you will immediately notice the frightening similarities to his latest debacle.

This incontrovertible evidence shows he has absolutely zero ability in forecasting markets –his silly little Fibonacci pivots, 3, 5, …13 weeks and 6 magic “indicators” etc are of no more insight to the future than a black cat walking under a ladder! What is even worse, is his total inability to trade profitably! Once he’s in a hole, he just keeps on digging! We have been telling him to cut his losses and he’s just kept on buying (he first bought TZA at $26.50. He then bought more the next day, then “I added to my positions in TZA aggressively today from 26.08-26.35 ranges as well” and then “I bought shares in the last 5 minutes or so of trade”.). This is totally inexcusable. We all make mistakes from time to time (although Dave hasn’t called a profitable S&P-based trade since June 2010.), but very few are so stupid as to make the same error repeatedly… Even when told of the fact.

Hello,

I’m totally speechless…. Your core full position of SA has plunged -50.98% since end-November; and 75% since June. You haven’t once addressed this investment disaster over this period. Please explain yourself before I get my lawyers on to you.

RE: http://investimonials.com/newsletters/reviews-activetradingpartnerscom.aspx

I too am sorry to hear about your (AReviewer) 75% pension loss. I have been documenting here and on a number of other websites (http://davidfraserdavid.wordpress.com/2012/01/19/a-review-of-dave-banister-at-atp-and-a-warning-to-all-considering-let-others-manage-your-investment-decisions/ ) just how fraudulent Dave Banister is – and the huge unseen risks he possess to other people’s wealth for just this reason of warning.
I’m sure when Dave started out all those years ago he never intended to become a fraudster (see his most recent claim to be up 160% this year!!! –he lies and insults your intelligence at the same time). However, while others had the honesty to quickly learn that markets are incredibly difficult to beat consistently, he became wilfully blind to this fact and things got worse and worse, he choose the path of deception.
Just look at the number of large, well-connected and rich investment institutions that on a 3, 5, 7, 10, 15 year view fail to beat their benchmark. Dave basically does nothing more that take on huge beta risk with no real technical or fundamental analysis – other than herding with the many online pump&dump schemers.
Independent of anything that Dave does, there are of course periods when risk-is-on. During these times all boats are lifted by the rising tide. There’s nothing genius in this. High beta stocks rise faster than most –by definition. During this time, Dave, and indeed any strategy that simply takes on exaggerated risk, offers better returns. However, as I have shown with Dave’s “core” positions all the good-time money is wiped out as soon as things head south – and some…
What I find particularly offensive about Dave is his underhanded deceit. Sure, no-one can get everything right. But Dave systematically conceals his huge losses whilst massively over-playing his few winners. I’d go so far as to say that he actually never invested in some of his greatest so called star trades, but just searched for the best recent performers and then sends Twitters out back-dating his ‘investment prowess’ For the last 5 months he has basically totally ignored his -50%+ losses within his large “core” portfolio. Furthermore, he will utterly lie about what he has previously said to make it seem as though he knows what he is doing.
For example: On Friday May 18th Dave sent this claim out: “pullback has been further than I planned and below 1322/1340 pivots I outlined 5-6 weeks ago at TMTF”.
All seems fair enough on the face of it, but unfortunately, totally bogus. This is what he ACTUALLY wrote 5-6 weeks ago: i.e. April 29th – “This week we saw the SP 500 get past my 1392 line in the sand and for me, it confirms we had a major wave 4 double bottom at 1358/59 on the SP 500 Index. The rally since then is likely wave 1 of 5 waves up from 1358. These 5 waves should take us to 1458-1521 ranges, and I’ll update as we move along.”
Clearly, there is a huge dichotomy between what he said (an extremely bullish statement inducing partners to aggressively buy) and what we now know actually happened over the last month (S&P crashed 8%). Dave gave his bullish “forecast” because simply markets were rising. He missed the turn completely. Now that this fact is plain for all to see, he attempts to deceive onlookers into thinking he is ahead of the game and “knew” this would happen. If you watch what Dave does, rather than what he claims he “did” the bitter truth will out.
I have communicated to Dave many times the harm his cover-up/scam is causing but he only responds with violent insults and threats. Let me assure you, if he stood in front of me in the real world, he would not dare to say anything so brave to my face.
Finally, to others out there, the simple fact as I have pointed out elsewhere is that lottery-beating software that sells for $9.99 is worth at most $9.99 – and never to the buyer just to the seller. Clearly, if this proclaimed odds-beater really worked the owner would not go to all the hassle of selling to the general public for what seems a paltry return, he would simply and quietly use it for himself to make big bucks. After which, at best, he would donate it to a charity. The mere fact that it is available for sale proves its destined failure. The same is true about Dave Banister ATP and ALL other online money-making trading schemes…
Credit is basically free in today’s desperate times. If Dave Banister had any way to consistently beat the markets (i.e. better than a 50% call) he would simply borrow and leverage, then invest, get rich, and then either stop or getter richer. At no time under this scenario would you or I hear about him, and he certainly wouldn’t be selling his precious time for a few miserly bucks!
To take this point one step further: Bloomberg have exclusive access to a zillion-terabytes of realtime data. And still, it is more profitable for them to sell access to this supposed golden-goose than to invest all the endless money they could easily access for their own account in private…
Dave Banister works out of a small, dingy room in the back of his one-story house in the middle of nowhere. He systematically manipulates and front-runs most of what he does. He is part of an online-mafia that pump&dump high risk, low volume plays to their own advantage and the detriment of their naïve customers. He is little better than a burglar that comes and steals your most precious belongings. Don’t allow him access to your money. You have a duty, as I have done, to file police reports and exchange rule breaches whenever you see them – to protect the next person’s 75% retirement scheme.. and the next, and the next….