Larry Benedict “7-day blitz secret”
by dphouts | March 3, 2021 5:58 pm
Have seen ads for this in a couple of newsletters I’m subscribed to. Any thoughts what is being talked about?
“After managing almost $1 billion for his wealthy clients, legendary trader Larry Benedict is now ready to share his “7-day blitz secret” with everyday folks like you.
He expects a blitz of gains in the third week of March… gains like you’ve never seen before.
And it’s all thanks to a strange phenomenon that will be enforced by an organization that’s regulated by the U.S. government.”
Source URL: https://www.stockgumshoe.com/2021/03/microblog-larry-benedict-7-day-blitz-secret/
I came to Stock Gumshoe to see if my supposition is correct. Could that possibly be referring to the quarterly rebalancing of the SP-500?
Most likely.
http://www.nasdaqtrader.com/content/technicalsupport/tradingcalendar.pdf
Any ideas everyone?
Later.
Over many years I have subscribed to every service out there and Larry Benedict is the worst. You will make money if you take the opposite position of what he is recommending. I would rather take advice from Bernie Madoff from prison than Larry Benedict.
Larry Benedict is marketing his 7-Day Blitz program. Is this program a good investment?
Yes it is the SPX he trades for Quadruple Witching. The only reason it peaked my interest is because he seems to be using vertical spreads to trade the options for his S&P Trader product rather than buying a simple call or put. However, I couldn’t figure out the % on his winnings he claimed in the infomercial, since spreads the profits and losses are capped? The only way I can think of is he is using very wide spreads between the options.
Capping is good, because the spread’s price moves faster within the range. If close to the cap you still think the movement of the underlying continues, just extend your position with another spread higher/lower.
Again, at Sept 9. 2021, this is being recirculated for $2000….. Any confirmation what this is? And he uses out-of the money credit spreads? Care to give an example, anyone? TX
I signed up with Larry Benedict believing he had 30 years experience, and was a Market Wizard trader, big mistake
He does bear call spreads and bull put spreads
He claimed he had special signals to time the market direction for the week
I think he gambles, and toss a coin head or tails
And when his recommendation looses an other 3 or $4000 he says the market dit not go in the direction he thought, but at some point it will
I would stay far away from him
I asked for a refund but they said I could pick another service
If you want learn how to trade options try
Wise traders from Guy Cohen
Great results with a simple system
He’s got a new one out with an AI twist. I agree that it’s quadruple witching on 9/15 and he’s using some type of option spread. His past ones of these were SPX. My guess is this one is too and that he’s just going to say that the broad market is the way to capitalize on AI. If you want to find out, it’s https://www.opportunistictrader.com/, but I think I’m going to pass.
Yes, he makes a big deal out of something that is guaranteed to happen “the third week of September” – which simply is that the monthly options expire. While he tries to imply that AI is involved, he again does a poor job of hiding the fact that he is just playing SPX…to the point that his free pick at the end of the broadcast is indeed SPX.
I had not realized, until after the presentation (because he is somehow fairly new to me) that he had given this 7 day blitz pitch before, and the other ones also (from the reports here) seem to indicate spread trades of SPX and the middle of the month theme.
It was one of the LEAST COMPELLING presentations I’ve ever seen, not once did I tinker with the idea of signing up for his 4000->2000->2000 for two years S&P Trader service. The presentation came across like “you should play SPX options, and if you feel like it, you can sign up for my service.” Uh, no.