Channeling Stocks – Is channelingstocks.com a Scam?
Channeling Stocks has been advertising on CNBC for what seems like an eternity.
I remember back in around 2002, seeing their commercials and trying out the service for a few months. I was pretty disappointed. I found their picks decent for further analysis, but honestly I did better finding my own trades. Plus, especially with their picks that are not traded very heavily, their own service influences the stocks too much. IE, when a thinly traded stock gets picked, the next day its up big….but only because channeling stocks recommended it.
Better Choice than Channeling Stocks
A better choice is another CNBC regular….but this one isn’t an advertiser. It’s the now ubiquitous, Jim Cramer and his Action Alerts Plus service. It’s actually a really neat service. I used it back in my day trading days to get trade ideas with quite a bit of success. In fact, if I had actually stuck to his trades, I would have done quite well. Works great when using Zecco to trade with.
Check out a better service, Action Alerts Plus: Click Here
{ 5 comments… read them below or add one }
Thanx for publishing your misgivings about channeling stocks. I am thinking of joining them, but am looking for any negs. on them on the web.
Thanx agn.
Stan
Channeling Stocks is an age old scam. Same pump and dump run by tons of websites except they are smarter (about not violating SEC rules) and been around longer.
I subscribed to channeling stocks a few years ago. They chronically mislabelled downwardly trending descending triangles, wedges, head and shoulder, triple tops as "channeling" stocks. The staff seemed to know nothing of these trending patterns and were essentially well intentioned amateurs. Stay away!
I also trialed channelingstocks.com. I agree with the above description. Upon further analysis I often found that they were misidentifying patterns and that my own picks were much better looking than theirs.
Not sure what you guys are talking about.
I’ve tried both sites, Channelingstocks.com and WaveStocks.com. I am actually still a member of WaveStocks as it’s cheaper over time. They do the same thing.
A scam? Hardly.
They pick stocks in a channel pattern… it’s easy to do, but can take hours and hours to find them, going through thousands of charts. These guys just do that for you, for a fee. That’s all.
I’ve had great success with both sites. It’s great for folks to get in quick and make a nice 10+% within days or a week or two. And as for liquidity issues? Don’t know what you mean there either. The last report I saw on WaveStocks.com had all but two stocks listed NYSE/AMEX and traded several hundred thousand per day.
Yes, you can do this yourself. That’s not the point. You can also build a house yourself… you pay others to do it for you so you don’t have to spend that time.
Cheers!