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Posted 4 months, 1 day ago. http://timothysykes.com/2008/01/15/coin-just-cracked-perfect-sideways-ation/

COIN Just Cracked Perfect Sideways Action

Tags: So Hot Right Now

As usual, I shorted waaaaaay too early pre-market at $11.80, but as those of you tracking my trades on Covestor know, I just doubled up (don’t try this at home kids–I’m just incredibly bored at the moment not being able to day trade freely and will probably fund my account to get over $25k so I really have nothing to lose here) by shorting 1,000 COINW at $4.393.

This should be it for COIN’s run for the time being, as those of you who’ve bought my DVD know, this is the beginning of the end for the supernova chart pattern, stock’s at $12.30 now, let’s see how far down we can go!

UPDATE: Covered my 1,000 shares of COINW at $3.88 for a massive $500 gain within a half hour, damn, wish they could all be that easy (oh wait they could be, if somebody would just take a hammer to the greedy Jew part of me that overtake the patient side who wants to wait for afternoon fades EXACTLY like this). I think think it’s got further downside, but since COINW basically plays off COIN, I had 60%+ of my portfolio in these COIN plays, which no matter how bored I am is unacceptable. I’m still holding my 400 shares short in the original COIN, ideally overnight.

We’ve all learned another valuable lesson here–wait until the perfect sideways price action cracks before shorting!

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UPDATES

May 15, 2008

Yup, by next Monday, everything's gonna be real working-like!

May 15, 2008

PDO, up $4+ today, will teach you not to randomly short strong penny stocks, get in, get out then run...cuz sometimes they squeeze stubborn shorts to death!

May 15, 2008

No ideal short plays today, check out these 2 interviews while we wait for price action perfection

I wish I'd listened to my own rulebook, instead got squeezed for $400 shorting blatant-fraud KYUS too early...someone needs a refresher course this weekend!

I nailed NCOC's 20% rise today in my pre-market post, but I was too biased against buying little breakouts, learn from my mistakes!

May 15, 2008

Lots and lots of new sketchy stocks to watch

TIMtrades

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Date Stock Buy Sell Net
May 12 CNEX $7.20 $6.00 $740
May 7 VRML $3.05 $3.75 $890
May 6 VRML $4.42 $4.36 $180
May 5 LGDI $4.42 $4.67 $353
May 2 VM $3.97 $4.01 $12

Total: $18,590 ( 50% )

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