Terry’s Tips sued by SEC

Maybe you have seen the Google Ads for Terry’s Tips-he’s the guy that promotes options trading, with gains of 100% a month on an annualized basis. Instead, clients have been reporting loses of 60% to 100% of their investments according to an article in today’s Wall Street Journal. The SEC claims Terry Allen had been enrolling clients in “autotrading” programs-they do all the work and you reap the benefits. As of August 2004, he had about 1,200 autotrading clients and $14 million in assets under management. According to Terry’s attorney they intend to defend the case vigorously. If it sounds too good to be true…… Please use caution and have a great week.

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Dansette