Last updated: 27 January 2017
You may think we are being a little harsh including Kunal amongst the others, and you may be right, but first, I want to explain why he is here.
First, Kunal Desai (de facto brother to Sang Lucci) is an good trader, no question about it. He has a good eye for picking fast moving stocks in hot sectors.
Sometimes these stocks can move 10-30% within a day, but normally he aims for around 5-10% on average.
The problem we have with Kunal is the same problem we have with many stock trading website owners like Timothy Sykes and Paul Scolardi etc… They front run their subscribers.
You see, people learning to trade sign up to these sites, pay $100 per month and expect to duplicate the results of the chat room owners. These guys know this, and they alert their trades that they have made knowing full well their subscribers will follow them in the trade. When the herd pile in, it automatically pushes the share price up for which they can then sell into. We see this time and time again.
Which means they buy a stock, alert it to their subscribers, and then when any unusually large buying volume comes in, it pushes the share price up more and faster, they can sell, thereby magnifying the % returns they make on a trade.
We think this kind of trading is not only unethical, it’s downright BS. These guys often create fake momentum. Take away the hundreds of chat room subscribers and thousands of twitter followers, and you have one guy who bought a low volume stock that may or may not increase in price.
And often times, their subscribers are left holding the bag because they bought the stock much too late and now have to sell for a loss because the temporary momentum is gone.
If you have read our website, you will know that Small Cap Momo NEVER engage in this kind of crap. Unlike Kunal Desai and BullsonWallStreet, we will never buy or sell a share before we alert it.
Update #1: Kunal and his team are running a Bulls on Wall Street course that teaches how to trade. I have not signed up for this, so I cannot comment, if you have used this service, please let us know your thoughts.
Update #2: I’ve recently been made aware, from former Bulls on Wall Street subscribers, that Kunal and his BullsonWallStreet team were promoting a “prop trading firm” to its members. I was told, and later confirmed, that this particular firm (Lake Street Trading) became under investigation by the SEC, and subsequently went out of business late 2012-early 2013, freezing some BOWS members’ money in their accounts, with no ability to withdraw their hard earned capital.
I’m told some subscribers lost whatever funds they had in their accounts.
What astonishes me most is that apparently (again, from what I’ve been told), Kunal and Bulls on Wall Street team made no mention of the problems circulating with Lake Street Trading at the time, and there were no apologies, no assistance. Nothing. They had moved on and formed a new relationship with the next prop firm, as if nothing ever happened.
Way to do your homework on your business partners, Bullshitters on Wall Street!!!
Kunal, if I have been misinformed about this, please feel free to drop me a line to set the record straight.