10 Questions for Tim Sykes

Posted by Timothy Sykes on Wed 21st of Nov, 2007 01:48:22 PM

How were the ladies and the scene out in LA? You still there or back home for turkey day?

No time for LA ladies this time around—too many meetings and projects going on…took the red eye back this morning in order to make my debut on the FOX Business Network at 6:30AM (I’ll have the video up shortly)

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Tim, the market has been so brutal lately, I’m even afraid to look at my account! I’m down 25% since the bull run reversed back in mid October. Should have shorted huh?

It’s easy to look back and say shoulda woulda coulda, but in my experience, you need to simply focus on what works for you, be comfortable with your market exposure and take your losses along with your gains. Analyze your investment decisions to death and learn to filter out what doesn’t work in order to up your chances for success over time.

What is this mumbo jumbo I’m hearing that there is a possibility fed won’t cut rates come December? Will the market go under?

It’s definitely a possibility—who knows how many people are now expecting it and pricing it in, but these are guessing games best left to the POS talking heads who earn a living by never going out on a limb in order to keep their heads talking in the media.

 

I know you play pennies: did you catch DLAV.PK? I don’t play pennies anymore (bad experience) but I still watch from the sidelines. How do you catch such a runner? Do you just use a screener like microcapfeed?

Outside of my CYGT.PK disaster, I don’t touch anything below $1. my dvd, PennyStocking , focuses on trading strategies for stocks between $1 and $10.

 

When are you going write about the CYGT exhibit and IAAPA?

I’ll be working on this over the weekend—sorry, just been a ridiculously busy week.

 

Tim, good call on SMRT. Took your advice and shorted Nov. 15 at about $7.35, just finished covering on Nov.21 at an average of $5.88.

Awesome, that is part of the goal for this website—as I’ve stated time and time again, I’m not that great a trader, but I do do many things right. I saw SMRT and should’ve shorted it, but I underestimated how quickly it’d fall back to its lows. This is why I’m just gonna write about everything I see and you guys hopefully will do as good as or maybe even better than me.

 

Tim, why do you enjoy making a fool out of yourself every time I see another video clip of yours? Do you realize you’ve ruined your future in the finance industry?

Because I could care less about credibility and being serious/businesslike. You gotta understand how many emails I’ve gotten from people who praise me for being real and getting them interested in the stock market. Like Cramer, I’m gonna do everything in my power to help show everyone that finance can be fun, interesting and not as serious as most people expect.

I also don’t care for a future in the finance industry (as it is right now). Being prohibited from discussing my life’s work/job, advertising, admitting my mistakes, saying how I really feel—these are much more important to me and I’m loving finally being able to express myself freely (my outlandish behavior is probably a result of being muzzled for nearly 5 years—maybe I should sue the SEC for emotional and mental anguish?!?!?).

I think some of the industry’s rules are utterly ridiculous (such as when my friends in the business can’t publicly comment about my book!) and these tight regulations are the direct cause for why industry outsiders know so little about how the industry works. They are also the direct cause for why the general public shows so little interest in finance/business—I was in Barnes and Noble the other day and counted the number of magazines sections for each topic—7 for Women’s Issues, 5 for Health & Beauty, 5 for Sports, 3 for Transportation and 1 for Business/Finance. Transportation has 3 times as many categories as us?!?!?!?!?!?!?!?!?

 

Why can I never find your book in any bookstore?

Because bookstores are horrible places to sell books—30-40% of all books are returned and the margins suck. My book is available exclusively online at all the diff. international Amazons and Barnesandnoble.com because online selling is the future as it’s much more efficient and profitable for publishers.

 

Where are TIM’s trades listed?

Right now, it’s just this blog, but my site will be totally revamped by January 2008 to make it much more intuitive and organized.

 

Tim, your book, DVD and goals in life are all incredible, you should run for president!

No, I’m apolitical. The presidential candidates remind me of the S&P 500, The Dow and The NASDAQ—too many variables at work, too many people playing diff. angles, no way to really understand what’s going on/predict who to bet on. I’ll just stick to trading and teaching people about trading….for now.

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