I recently came across a presentation featuring Rob Booker and Lance Ippolito on the WealthPress website about a new trading system called Weekend Wiretap.
According to the video, thanks to a “strange Friday afternoon phenomenon,” you can place a quick trade on Friday afternoon and cash out Monday morning with up to 610% profits.
Sounds good, but is it legit or just another scam?
That’s a question I’m going to help you answer in this article. So if you want to learn more before joining, read on as I walk you through what I learned.
Weekend Wiretap: Make $1,000s Every Weekend?
The Weekend Wiretap presentation begins with a video of trading guru Rob Booker at an airport, saying he’s on his way to meet up with Lance Ippolito to learn about a new “trading anomaly” that’s “shown the chance” to unlock five-figure paydays over the weekend.
Rob says it’s virtually as simple as placing “one quick trade” on Friday at 3pm and waking up on Monday morning to potentially thousands of dollars in your account.
From there, he meets up with Lance Ippolito, and the pair drive casually through sunny Florida on Friday afternoon. During the ride, Lance whips out his phone and supposedly shows Rob how to place a quick trade after receiving a “Wiretap Alert.”
The video then transitions to Rob and Lance enjoying the weekend fishing, drinking, etc. Then, Monday at 9:30am, Rob and Lance meet at the dining table to see how the trade went.
And apparently, the trade was up 83%, turning a $5,000 investment into $9,150.
I don’t know about you, but to me, the whole thing felt really scripted and nowhere near an example of how a real trader would be making money. But I guess the point was to illustrate that the Weekend Wiretap system is simple – just place a quick trade and enjoy your weekend.
Nevertheless, Lance says the system has up to an 81% accuracy rate and shows numerous examples of making double- and triple-digit gains using the system.
For example, the order page on the WealthPress website states that the “Wiretap” recently signaled returns of 50% on Mondelez, 183% on IBB, and 610% on CRSR in one weekend. And says that it generated a combined total gain of 1,231% gains over four weekends.
If true, these are impressive gains. And according to the presentation, this method doesn’t involve “hovering over your trades,” looking at chart patterns, or technical indicators.
Apparently, all you need to do is place a simple trade on Friday at 3pm for the chance to wake up Monday morning with thousands in your account.
This is an exciting prospect, but I also thought it sounded a little too good to be true. I’ve seen other gurus make these kinds of claims over the years, and in most cases, it was hype.
That said, even though most of the video is about how simple it is to make money, as the presentation continued, Lance did reveal more details about how the system works.
How Does Weekend Wiretap Work?
Based on what Lance Ippolito states in the presentation, the way Weekend Wiretap works essentially has to do with “front-running” newsworthy events released over the weekend.
According to Lance, many publicly traded companies tend to release their most positive news over the weekend. For example, news of a company merger, new drug approval, or an earnings report. Basically, anything that could positively impact the share price.
And if/when this happens, Lance points out that this can drive up the share price on Monday morning as people pile into the stock based on the positive news.
So the idea with his system is to get ahead of the positive news by placing the trade on Friday afternoon, before market close.
Sounds simple, but how do you know what stocks will rocket on Monday morning?
According to Lance, that’s where his “wiretap system” comes into play. He says his system can identify million-dollar “wires” taking place on Friday afternoon, giving him the heads up about what opportunities may be worth jumping on.
What exactly is a “wire?”
Based on what Lance says in the video, the “wires” he’s referring to are transactions made by hedge funds, institutions, and “big money insiders” across multiple options exchanges.
He says he’s looking for reasonably large buy orders taking place on otherwise uninteresting stocks that make very little sense and that are spread across multiple options exchanges. Because this might indicate that “someone” knows something the rest of us don’t.
So, from what I can gather, he’s looking for potential “insider” activity, as in, people placing trades who might be aware of good news set to be published over the weekend.
In theory, if you did have a system that could identify this sort of thing, you placed a trade before the market closed on Friday, and the stock went up on Monday, what he’s saying makes sense.
However, that’s a very big “IF.”
Unless you’re an expert trader who knows exactly how Lance identifies these trade opportunities, you essentially need to take his word that he does in fact have such a system.
Whether he does or doesn’t, is anyone’s guess.
But according to Lance Ippolito, he spent $10,000s working with a developmental team to build a “specialized algorithm.” One that measures the strength of these “wires” based on a specialized trade pattern. And he calls this algorithm “The Wiretap.”
He says the algorithm is programmed to tap into 16 different options exchanges and track over 4,000 publicly traded companies. And when it finds an opportunity, the system alerts him so that he can place a trade on Friday afternoon and share it with subscribers of Weekend Wiretap.
From there, once you have Lance’s trade recommendations, you can decide which trades you want to act on using your own broker account.
What Do You Get If You Sign Up?
As a member of Weekend Wiretap, what you get access to depends on which membership level you choose – either Silver, Platinum, or Diamond.
However, the core of the service is the same regardless.
The main aspect of the membership is the 156 “Wiretap Trade Alerts” you get over 12 months. Every Friday afternoon, Lance says he sends you three trade alerts that have the potential to see double- or triple-digit gains come Monday morning.
Of course, there’s no guarantee you’ll see these types of returns or make any money at all, for that matter, but that’s what Lance says his system is capable of.
You also get access to the Weekend Profits Portfolio, which shows you the latest trades Lance has recommended, along with some training, a live weekly webinar, and some bonuses:
- Options Pro Crash Course (short options trading course).
- Live Weekend Wiretap Accelerator Class (live weekly webinar).
- Protect Your Profits (special report).
- Three months access to Lance’s “VIP Trade Room.”
- A custom print Hawaiian shirt mailed to you (yes, really).
How Much Does It Cost To Join?
There are three membership tiers with Weekend Wiretap:
- Silver membership ($1,297 for one year).
- Platinum membership ($1,397 for two years).
- Diamond membership ($1,497 for three years).
The main difference is that the two higher-level memberships come with a more extended period of access to the service and tickets to a live in-person event in Ponte Vedra.
It’s also worth factoring in the money you plan on trading with.
The idea with a service like this is to take what you learn as a subscriber and decide if you want to follow the trade recommendations using your brokerage account. And based on what Lance says in the presentation, you can enter the trades he recommends for around $100 to $500.
Can You Get a Refund?
It’s not possible to get a cash refund with Weekend Wiretap. However, if you’re not satisfied with the service in your first 60-days of joining, Lance says he will “pay for you to join another service at Wealthpress.” In other words, you can switch to another service.
Who’s Behind Weekend Wiretap?
Lance Ippolito is the main person behind Weekend Wiretap, and he works with a financial publishing company called WealthPress, which is the company selling the service.
Other services he heads up for WealthPress include 3D Profit Surge Alerts, 2 Click Profits, Sweet Spot Stocks, and Blockbuster Breakout Calendar.
As a side note, I think Weekend Wiretap might be the successor to his Blockbuster Breakout Calendar service. I’m not sure about this, but during my research, I discovered that the testimonials used on the order page for both services are virtually identical.
In any case, before working with WealthPress, Lance was a professional trader for Citigroup.
And according to his bio on the WealthPress website, his specialty is making large amounts of money within a short time using his own trading software.
Other than that, there’s not a lot of information out there about Lance. Nor was I able to find out much about Rob Booker, the man talking with Lance in the video.
Although I do remember coming across Rob while looking into a trading service headed up by Markay Latimer a while back. So he does seem to pop up from time to time and his latest project is called Hot Sheets which he talks about on his site.
What about WealthPress?
WealthPress is the Florida-based company that publishes Weekend Wiretap and other trading and investing services run by other gurus Lance works with.
Like most financial education companies, they also publish free content on their blog and run a free daily email newsletter called The HUB.
Bottom Line: Is Weekend Wiretap Legit?
When I first stumbled across Weekend Wiretap, my initial reaction was one of skepticism. Mostly because I feel that the claim in the presentation about placing a “simple trade on Friday afternoon” and making potentially thousands of dollars by Monday was quite bold.
I’ve seen many overhyped programs in the make money online, trading, and investing space over the years. And what I’ve found is that most programs that claim to help you make lots of money within a short period of time, without putting much effort in, weren’t what I expected.
I’m not suggesting that Weekend Wiretap is a scam. I decided not to join the service, so I can’t say for sure how legitimate it is. However, I can say that it’s not very realistic to join a service like this and expect to make consistent double- or triple-digit gains every week.
Also, even though Lance’s system sounds interesting and might work as well as he says, it’s also very new. So we don’t have a long track record to go by. All we have are the trades he shows in the presentation which, to the best of my knowledge, are his own trades over four weeks.
So my point is, there are no guarantees. You might end up making money, but you could also lose money at some point. And in reality, that’s true for any trading or investing service.
In any case, whether you decide to join or not is something only you can decide. Either way, I hope you found this post helpful and wish you the best going forward.