WaveStrength Options Weekly

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Marco
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Marco
January 27, 2009 2:26 pm

Wavestrength Options Weekly is not for those with a light stomach. Adam Lass has an uncanny ability to pick winners but he will not tell his readers when to exit a trade, leaving the profit or loss to the individual’s own discretion.

He has quite a following and his recommendations often have a pop on the day recommended due to the large number of orders placed with brokers. It seems as though few of his readers understand options and how a large number of purchasers can run the price up (and volatility) dramatically. I have found it best to pick outside of his recommendations by a tick or two (I would by the March 45 put/call instead of the recommended March 40) because it’s a contract/option that has not been manipulated because of the demand.

That said, he really has had some remarkable picks during the downturn. I think he’s a self-confessed bear, so it was easy for him to pick winners when everything was heading south. I don’t think his call picks have worked out nearly as well.
It’s a fairly expensive service but will pay for itself quickly, as many of the recommendations do increase 100% or more.

My one bug-a-boo about this service is how he records his winners. He gives you the maximum gain that the pick has reached and doesn’t bother adjusting it downward when the stock retreats. So he shows a 320% return on a trade that currently shows a 37% return; the 320% return being the very top of the market. No one I know has ever been able to pick the top or bottom as consistently as Adam! I wish I could record all my trades at the top (or be clever enough to actually see the top).

After three months of service I have made more than I have lost, so I won’t be complaining too much about his performance.

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Andrea
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Andrea
February 3, 2009 1:43 am

I have been a VIP Taipan member for over a year, but only got access to US Options trading recently (late 08), since I am in Australia.
I like WOW, and indeed, as Marco says, they do record the winners: at the top the trade has made. The top is often the buying pressure, and then the options start to slide. I also have an issue with the lack of advice as to when to exit a trade. When I check on the performance of the options, many make a continuous slide from a top. In fairness to Adam, he can’t know when people get in, so this could explain his reluctance to advise on an exit. I do know that if you buy the recommendations at the “wrong” time, you wil more likely end up a loser.
My one (1/6) winner so far has been a Visa put, which gave me a 50% return. I could have made a >100% gain on the Visa trade, but had experimented with a trailing stop which closed me out of the trade. A learning experience.

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Garry
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Garry
February 7, 2009 9:35 am