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stocks on alert / scam

1 United States Review updated:
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It started out as myshadowtrader.com, then when his predictions bombed it was changed to stocksonalert.com. Greg Roy (probably an alias) is the scammer. Now he is touting wealth alliance something or other bilking more people out of money. I am sure he will have a new service within a year.

Sy
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  • Sy
      25th of Feb, 2010
    -4 Votes

    the new site is http://wealthinsideralliance.com/

  • Df
      5th of Mar, 2010
    -3 Votes

    Greg Roy has also went by Greg Penn. He does not mention that his recomendations for 2009 have been a 100% loss. He was totally wrong in 2009 and now his trades for 2010 are almost at zero also with 2 weeks to go. He also mentioned in one of his webinars early on that he would give a one year money back guarantee. I tried to exercise that and it was denied. Whatch out for this guy. A definate scam.

  • Sk
      8th of Mar, 2010
    -3 Votes

    I've been getting emails from this guy too, for the "wealth insider alliance" program. He claims that one can turn $50, 000 into one million in 5 years, by placing one trade per month. From what I've seen, his "strategy" is to sell options against stock you already own. The thing is, even if it's legit, he'll want a few thousand per year for his monthly recommendations.

    Sounds way too good to be true. He won't be getting my money.

    BTW, one of his affiliates is a guy named Preston James, AKA "The Profit Pirate". He sends out the exact same emails that Greg Roy sends.

    My question is, if this guy is such a great trader that makes millions, shouldn't he be retired by now?

  • Jo
      20th of Mar, 2010
    -3 Votes

    About 9 months into my subscription after loosing thousands on all loosing trade recommendations I e-mailed support@stocks on alert.com mentioning Greg's original promise of a one year guarantee and I did get a refund check last week.

    I really wish I'd never come across this guy =/

  • 30
      24th of Mar, 2010
    +3 Votes

    Weird, Greg has got me a 10% net profit in less than 3 months with his new system. I never used the old one but i really like the new one:) I am up 10k with the new system for speed retirement.

  • Ce
      4th of Apr, 2010
    0 Votes

    So many of these are scams. I've looked at this one, can't tell if it's for real or not. Anybody else out there have any experience with this one ?

  • Tr
      5th of Apr, 2010
    0 Votes

    I just watched the video for the "wealth insider alliance", and it's definitely a scam. The method described in the video is called "selling covered calls", it's a way to generate income from stocks you currently own. The video leaves out a *lot* of important information, but the bottom line is, if it was this easy to turn 50k into over a million dollars in five years, everyone on Wall Street would already be doing it.

  • Ce
      5th of Apr, 2010
    0 Votes

    I've done pretty good doing covered calls. I'd guess the video is just a teaser. Why is it a scam if it's a covered call strategy ? Maybe 303tradeTed can shed a little insight. Could you PM me 303tradeTed about your insight ??

  • Jo
      6th of Apr, 2010
    0 Votes

    Stocks on alert had us buying puts on SPX, puts on QQQQ and calls on the VIX. These recommendations have been a recipe for disaster for the past year.

    Covered calls is a new thing and entirely different.

  • Do
      7th of Apr, 2010
    0 Votes

    I, too, have been taken in by the Wealth Insider Alliance and their guarantee b-s. It means nothing. I wanted my refund, and they are now coming up with new guarantee specifics that they will not provide proof of in writing. They were never in any published material I have. John D, I think you were lucky in getting your money back from the other hustle.

    Greg Roy's recent guarantee extension said, “In fact, I’m going to EXTEND everyone’s 100% Money-Back Guarantee period an EXTRA 60-DAYS because I only want folks to stay with us if they really want to be here. But if you’re not happy with the system because some trades are not profitable, or heck I don’t know, maybe my voice annoys you on the webinars, no problem. ***Whatever the reason*** (my emphasis), if you’re not happy that’s easily solved – get a refund, like I said I’m adding 60-days to your refund period so we’ll be well into May’s trades by then.”

    Now they are demanding proof showing I entered every trade. They want copies of my brokerage account. Yet they will not provide proof that there is such a stipulation in their guarantee. No thanks.

    I don't imagine this guy will be operating for long. I've learned my lesson. And I appreciate that folks are reporting on this site. Hopefully we can provide warnings to others.

  • Do
      7th of Apr, 2010
    0 Votes

    Update: They are still refusing to issue a refund unless I prove that I made all the trades and lost money. They still don't provide any proof of this new rule regarding refunds. The last email was in all caps, "yelling" at me to provide proof of my losses. So childish. I will just turn them over to my credit card company and see what they can do.

  • Pe
      8th of Apr, 2010
    0 Votes

    No emails, no phone calls, missing trade alerts, comments and question about them possible being a scam removed from the website.

  • Jo
      9th of Apr, 2010
    -1 Votes

    If they won't communicate with you, I'd recommend contacting the FTC. There are new regulations out that prohibit making wild claims, unless everyone could truely expect to get those same wild results.

    If you have brokerage statements to send them as proof, it would be worth it to send them in (and the sooner the better) - just obscure sensitive info like your SSN.

    Good luck on your refund.

  • Ja
      20th of Apr, 2010
    0 Votes

    Hi this is Jason Cox the marketing director for all of Greg Roy's
    programs and CEO of wealthinsideralliance LLC

    I'd like make a formal response to the complaints up above.

    #1. www.stocksonalert.com was a site owned by another company,
    www.TheInsiderCode.com and never had anything other than a 30-day
    money back guarantee. The site had around a 50% refund rate because
    Greg Roy "the rain man of calling stock crashes" - the trade made famous
    from his 2800%+ returns in 2008 was WRONG in 2009.

    His picks in 2009 were all put options because he believe the stock market
    was on the verge of another stock crash and anyone who bought his information
    product, weekly webinars, ect - were able to get a refund for the first 30 days.

    The sales were processed however by a company www.theInsiderCode.com and
    not by my new company - after greg/I had issue's with the owner of
    www.stocksonalert.com we decided to re-launch the service at

    www.wealthinsideralliance.com as a "Stock crash Protection" product that teaches
    you how to hedge against stock crashes by using put options - there has not been a
    stock crash yet and this product has had a loss for most members - but they know
    precisely what they were buying and that options are very risky and can expire
    worthless.

    In december Greg Roy launched a 2nd product called the "Speed Retirement System"
    which has been generating profitable trades this year and only on March 25th did the
    program switch from offering a 30-day money back guarantee to this current guarantee.

    http://www.wealthinsideralliance.com/images/guarantee_xlarge_90b.gif

    It gives you 90-days to test the program with the CONDITION that you must paper
    trade or really do the program for 30-day using a free account or real account.

    We've given over $1, 000, 000 in refunds to customers who were under the 30-day
    policy as long as they did it within 30 days of ordering through all sales up to March
    24th.

    On March 25th we switched to the 90-day policy which is clearly labeled on the
    order form just above ordering and on the guarantee on the sales page!

    We promptly respond to all emails at support@wealthinsideralliance.com with
    2 full time support representatives and have a 24/7 phone service that takes messages
    and emails them to our support team at this 1-888-554-2019 phone number.

    Customers who ordered in FEB were in bullish spreads when we experienced a quick
    drop in the market and experienced a loss on one trade that represented a smaller %
    of the recommended portfolio. Those customers were offered a 60-day extension to say
    and we've happily given anyone who was during this period a refund without any reason
    whatsover.

    Again, only customers who bought with the knowedge before hand of the 90 day CONDITIONAL guarantee that was on the order page and on the sales page in clear
    LARGE FONT are being held to the condition that they must paper trade for 30 days,
    and frankly... still have plenty of time to do so if they really don't want to accept the
    product.

    The reason we've implemented this condition is because many people like to buy
    programs, download them, than refund - for little to no reason - and this forces them
    to actually use the program, see the returns and take value in the course.

    Again here's the guarantee as of march 25th
    http://www.wealthinsideralliance.com/images/guarantee_xlarge_90b.gif

    There have been ZERO refunds witheld and while our company does considerable
    sales we have refunded over $800, 000 in sales to anyone who was within the guarantee
    period and have answered every email possible that we can legally respond too.

    Specific questions about "what price to do an option at" is against the law for us to
    respond to one by one so for those questions we've asked customers to get on our weekly
    webinars with greg as it is legal to answer these type of questions in general to a group
    of people.

    We've also began having as off March 15th Greg answer all questions that are
    trade specific, post them to the group FAQ and let members get answers in this
    manner which is completely compliant with regulations.

  • Ja
      20th of Apr, 2010
    -1 Votes

    Greg Roys program is now sold out after reaching
    approx 1000 members and because we don't want
    to deteriorate the options pricing by having too many
    members following the same stocks we've stopped
    taking sales for all of greg roys current programs
    for the rest of 2011.

    Starting April 29th we're introducing a new stock
    trader with new trades into the "Speed Retirement System"
    and you can evaluate the quality of our program for
    yourself here:

    http://www.wealthinsideralliance.com/speedretirementsystem

  • Ch
      30th of Apr, 2010
    0 Votes

    I had an initial subscription to Stock Crash Protection in November, 2009. I followed that with a subscription to Speed Retirement in December, 2009. I was charged a total of $4, 491.00. After nothing but losing trades on the SPY and VIX, I attempted to get a pro rated refund in January. I offered to submit copies of my trading account, which CLEARLY show the losses incurred following Greg Roy's recommendations. Thus far, have only managed to recover $1, 497.00. I am now going to seek relief through my state Attorney General and the FTC. People like Greg Roy or whatever his name is, should not only be put out of business, they should be put in jail!

  • Mi
      30th of Apr, 2010
    0 Votes

    In my opinion the claims made by Jamie and Barry are close to impossible. So what, they have "certified' account records that show how someone turned 50K into 2.5 million in the last 5 years...Yeah right, I got your certified right here. Don't believe it for one minute.

    Here are some big indicators here that this is just a great way to get your money;
    After the 6 day email course, the 'charter' membership was opened at a '50%' discount off the 'regular' rate of $595. So for $295 you get charter membership for a year, and never have to pay more than the $295 forever! What a great deal huh? He even made a statement about why he 'didn't' offer any guaranty... but wait the next day the offer was now $99. for a year WITH A MONEY BACK QUARANTY...hmm

    Then the stuff from wealth alliance came with a 'free' video of how you can turn 50k into 2.5 mil in 5 years. Same pie in the sky statements about how you'll never loose money in the market again...yeah..if you stop playing today you won't loose money, to believe anything else is just plain stupid!
    And again, they are making this stuff up as they go...the first email I got had this at the top:

    Hurry, you've only got a 1-hour head-start – go
    here now to grab a 30-day Speed Retirement trial
    membership for just $10 before they're all gone

    When I called them on it here is the weak excuse they gave me:

    Hello,

    "Yeah sorry about that our email delivery company glitched this morning. We will not offer trials for Barry's product. We will only offer annual memberships with 90 day guarantees. Take a look at this...Barry is our new expert trader. He has had 20+ years of profitable experience in the markets. Last year he reaped a 48% profit margin!!! Did you get those kind of returns last year? Here is the proof from his certified financial statements from last year."


    I should of done this, it's a great scam...They made somewhere around $50k in 2 days. I’m betting that no one makes any real money with these clowns.. and good luck on getting any money back, no matter what the claim..you’re out whatever you gave them..
    I will close this rant with the only good thing my Father ever taught me:

    “IF IT SOUNDS TOO GOOD TO BE TRUE IT ISN'T!"

  • Tr
      29th of May, 2010
    0 Votes

    I have been getting emails about Speed Retirement and thinking about trying out the service since they were offering a money-back guarantee. Looks like it would be difficult to get any refund and I am glad I found this website and for all of your comments.
    Grateful!

  • Wi
      3rd of Jun, 2010
    -2 Votes

    this guy is a total fraud... 100% losing trades.. save yourself heartache.. he keeps changing his identity. what does that tell you.. a total fraud

  • Fr
      9th of Jun, 2010
    +1 Votes

    I have recently came back to this site to see what has happened in the previous month or so. My good friend and neighbor just had major family issues and had to get a refund for the product. He is 100% unable to do anything but take care of a family that just experienced a terrible unseen event. He sent in his paper trades of the of recommendations issued and received a full refund the next day as well. To most of the people above, when you but something with a guarantee all you have to do is follow the parameters for a refund as my neighbor and good friend did. I am still with the system in faith because i still have a gain for the Speed Retirement System and temporary market trends have been very tough to make profits in. I wonder where my account will be at the end of the year.
    P.S. As i have mentioned earlier about being a previous customer with Greg. I have kept all the trades from stocks on alert and am now 60% up from where i started day one thanks to the VIX, QQQQ and SPY trades Cheri Fleming did not have the faith to stay in. I guess all have to say in the end good things come to whom that waits and has faith as i did:)

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