I am here to tell you about my experience with Nick Guarino and his Wall Street Underground. I know there was a lawsuite against him and he was shut down. Unfortunately, I was never informed of this and lost out on any compensation. However, he is back under another name " Wall Street Insiders" and in my opinion, is using the same tactics to lure unsuspecting individuals into the same trap. When I was first solicited by him back in he sent out a big letter envelope that said "Read This Or Go Broke". Then he sent a second one a week or so later saying the same thing. Then, a few weeks later he sent a 3rd one which he said his wife made him send this because he was soooo concerned about us all losing all our wealth and he needs to give these people one more chance to join his Wall Street Underground service and become wealthy in the comming wipeout. He is back at it again! I just got a 3rd solicitation for his Wall Street Insiders service, and it says on this last solicitation that this is his 3rd attempt to get me to join his service and just like in baseball, 3 strikes and you're out. Talk about Deja Vu. Anyway, let me give you a history on my previous experience with Nick Guarino. I got his solicitations back in 2001 and after his 3rd one, telling me how his wife had begged him to give us one more chance because he knew what our fate would be otherwise, I joined his service. He also claimed he had connections and knew exactly how these Wall Street Insiders worked and what they were up to. His first recommendation was to sell all real estate. He screamed this from the rooftops. He claimed real estate was going to lose 80% or more of it's value. Now his first few trades I participated in went well. I made some decent money about the first year or so. At first, he seemed real sincere. He use to tell us on his Current Recommendations that he was participating in all these trades he recommends and that if we lose money, he will be losing money. He told us this over and over and I'm sure it gave most of the subscribers a sense of security. I know it did me. Anyway, things started going south in 2003. He had just got us out of a sucessful oil, gold and stock market trade over a few months or so. Then he got us shorting oil in early 2003. Oil at the time was about $27 a barrel. His recommendation was to pick up one short position every dollar higher or lower. He said if oil goes over 33 dollars a barrel, we'll get out of the trade with some Huge loses. Well, you know what happened to the price of oil. When oil passed $33, he came on his current recommendations and told us he was bumping up his loss perameters a couple of dollars, which to me meant 35 to 36 dollars a barrel. The next thing I knew, oil was over 42 dollars a barrel. Then it started to pull back a little. It dropped back into the upper 30's. Nick came on his current recommendations and told us to do whatever it takes to stay in this trade and for those of us who were knocked out of the trade to get back in it. You see, he always told us NEVER to speculate with more than 10% of your liquid assets. However, he came out with this current recommendations that told us to forget everything he ever told us about that, and to do what ever it takes to get into this trade. He said it was the greatest gift we could have ever been handed. He said, and I quote, " Mortage the house, Raid the kids colledge fund, Beg borrow or steal every penny you can and get into this trade. You all know what happened next. Oil went to 50 dollars, then 60 dollars, then 70 dollars, then just before my subscription expired in late oil was near 80 dollars and he still had us in the trade. I know that when oil was approaching 70 dollars a barrel, he made a sarcastic comment that he was going to short oil to a 100 dollars a barrel if he had to. It would have been interesting to ask him what his recommendations were after oil passed 100 dollars a barrel and continued to soar. Anyway, that was not the only trade that went south in 2003. He got us into the stock market trades. He started shorting the dow at 9500 in 2003. You know what happened with that. It went to over 14000. He said he was going to throw in the towel at 10500 with some huge losses. When my subscription expired in late the dow was well into the 11000 range and he was still in the trade. He also had us into the S and P trade and the nasdaque trade. On the S and P trade, he got us in at the 1000 level telling us to short one position every 10 points higher or lower and that if the S and P gets up to the 1150 to 1160, level, we were going to throw in the towel and take some humungus loses!!! Well, as my subscription expired, the S and P was well over 1300 and he still had us in the trade, not giving us any guidance. All he talked about was the oil trade. There are a couple of other trades he had going on at the time and they were also doing bad and he left us all hanging. There was one euro trade he got us into that basically made Chump Change for us. Other than that, they were pretty much all losers. I looked into his archives at the time and I can assure you that anyone who participed in all of his trades after 2003 pretty much lost any profits that had made with him over the past 4 or 5 years if not longer. Also, another interesting thing, after all these trades he had us in went south big time, all of a sudden on his website, a whole bunch of disclaimers started appearing that had never been there before. The disclaimers stated that Nick stands by his recommendations and MAY paticipate in some of the trades. Also, look what happened to his real estate recommendation. He claimed in 2001 that real estate was going to wipe out. Did it? Well yes, after we had the biggest real estate boom in history. I had a commodity firm from Florida call me up about 3 years ago and told that my name was given to them and I was a wall street underground subscriber. I guess at the time old Nick was in trouble and was doing everything in his power to get cash, including selling names. I also had a commodities firm in California call me also. Anyway, I was told of a person who sold ther home back in 2001 as per Nicks instructions and a few years later this home was resold for an unbelievable amount of money because of the real estate boom in that area. Anyway, back in June Nick had a broadcast on Radio Free Wallstreet. He claimed in this broadcast that they had manipulated the housing market and that we probably were not going to have a real estates wipeout afterall. Well, you all see what's happened since. Also, when gold went over 600 dollars an ounce 3 years ago, he started screaming from the rooftops to sell gold because it is going to wipe out Gold is currently well over $1000. Do I believe gold prices are going to crash??? ABSOLUTELY. But I think gold will probably soar to the stratosphere before it does. And the thing about it, you got all these people who sold their gold at 6 to 7 hunded dollars listening to this guy, and if gold goes to 3000 dollars an ounce and then crashes, this guy will be jumping up and down saying I TOLD YOU SO!!! Just like he did with the real estate market. Anyway, His first solicitation I got last spring about his new service. His whole solicitation was about how gold was going to crash and how to make allot of money off it. Since then, gold is up well over 100 dollars an ounce. Now in his last solicitation I just recieved this week, he does not really talk about gold. Now he's saying the stock market is going to wipe out and if you follow his advice, you could turn a few thousand dollars into a few hundred thousand and possibly a few million. Anyway, he is chargind $5000 a year for this or $7500 for 2 years. I got a feeling he will be in another lawsuite in a couple years or so and then, he'll just change the name of his service and do it all over agian. I hope this letter can help prevent that and at least alert people about this guy. If this letter keeps just one person from getting screwed by this guy, It will have been worth it.
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