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Posted 5 months, 3 days ago.

Timothy Sykes On CBS Sunday Morning

Tags: Interviews, Press, Videos

Perhaps a little too simplistic, but I guess that’s the way it has to be for a society that watches crap like American Gladiator…overall not a bad piece, and with CBS added to the lineup, my domination of the major TV networks is now complete, CNN, CNBC, FOX, ABC, all videos are posted on Youtube, some are better than others. This show, seen by over 5 million weekly viewers, also featured Bill Gates, Warren Buffett, Kenny G and Suze Orman–not bad company at all…well, mostly. Let’s see what you guys think!

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49 Responses

1eric

February 18th, 2008 at 12:44 pm

Tim great interview as always! I enjoy your brutal honesty. Ive read your book TWICE and I absolutely enjoy seeing your passion, like how you found a way to get to a computer to check on your stock before, after, in between classes and where ever and whenever! Making money is addicting! WSW was better last season with you in it! One last thing, any plans about attending future tradingexpos or moneyshows this year? Thanks Tim!
2James W

February 18th, 2008 at 12:58 pm

Hey Tim, what do you do on a day off like today? Play some pong in your apartment or is your table ruined from all the soot? What’s your favorite sushi place? I’m reading your book during my lunch break now and it is great so far.
3Dave

February 18th, 2008 at 1:09 pm

Great interview, Tim! Do you think there will be any upside in WCG tomorrow?
4Vince Parker

February 18th, 2008 at 1:34 pm

I have been reading you off and on for a couple months and there are many more things I like about you and your approach than I don’t.

Complements later but, I find it disturbing that the piece so misrepresents your actual results which I find varies depending on your level of mania and on your apparent belief that you must best your latest nationally stated results.

12K to 1.6 changes to 12K to 2M changes to 12K to a few million today in just the time I have been reading you.

This past result inflation unfortunately reduces the credibility of your blog in general and puts any facts you state into serious question.

Quit it. Avoid the temptation to embellish and your blog and sales will benefit as a result.
5Jason R.

February 18th, 2008 at 1:44 pm

“Perhaps a little too simplistic, but I guess that’s the way it has to be for a society that watches crap like American Gladiator”…Funny quote TIM!…God how can anyone sit through an episode of that garbage…Great interview and I really enjoy how you pick apart these uptight individuals in this business…Thanks for making money fun…I agree, WSW was better last season.
6Bobby

February 18th, 2008 at 3:14 pm

Read your book,which brought me to your blog.The book was interesting..CBS was blah! You cannot “belly up to the bar and tell it like it is” on national TV. However CBS is great exposure for you,so that is good.

Keep being a “thorn” in the side of wall street,SEC and the “talking heads”.The blog will keep me coming back.

Best Regards
7Mr. Not so happy

February 18th, 2008 at 3:45 pm

Dangit I wanted to trade today but unlike Mr. Tim I have to wait until Thursday to recover my 3 daytrades. What a bummmer man. Oh well I am secretly racing you to 25k Tim. Even though you cheat a bit thats ok I am still in the lead.. muahahahah
8timsykes

February 18th, 2008 at 4:33 pm

Speech went great so I’ll def. be at more Trading Expos/Money hows–gotta cut through all the BS there too.

The $12k to $1.65mil was before I started the hedge fund, the $12k to $2mil was after 2 years of running my fund (prevented from talking about how much my fund made during WSW) and the $12k to millions is what I’ve made over the years–CBS cut off the part where I say I’ve made millions and lost hundreds of thousands. its not embellishment, its how u look at it and more importantly, how its edited! Career earnings are around $3-4mil. the specifics arent even importat, i’m not a great trader, i fully expect to teach someone to be able to turn $12k into $10mil+

i bet you’re beating me to 25k, i’ve got too much goin on, not well prepared for trading such a small amount right now, but i’m getting better at adjusting…
9Inquisitor

February 18th, 2008 at 5:25 pm

Great post and interview. Loved the book as well and will keep coming back to this blog - your transparency about trading policies is a refreshing change.
10Vince Parker

February 18th, 2008 at 5:48 pm

Thanks for the response Tim. That info you stated helps me, and I am sure some other readers here,
put your stated results into better perspective.

I have been trading full-time for many years with great success and have slowly learned some of the exact same things you seem to have learned rather quickly:

Namely that conventional investing wisdom is BS and that while not a conspiracy, is passively maintained by those so called investment professionals, because it helps them maintain the status quo of naive investors filling their pockets.

I admire your passion to break that established order and teach folks here how to do it for themselves.

But more importantly, I learned, like you, that the key to riches is betting against or shorting the stocks that the stupidest investors are buying irrationally, and that these dumbest, least sophisticated investors, do their worst, or their best, from our perspective, in the micro cap companies.

When I heard you articulate something similar on WSW, I nearly flipped my lid because, while I knew many others were using similar strategies to me, I had never heard anyone articulate, or readily admit to using, my exact extremely lucrative strategy, on national TV before.
11Dave

February 18th, 2008 at 6:03 pm

Tim,

Excellent website and good luck at repeating. I am doing a similar challenge taking 10K and trading Stock Splits. Stop by if you get a chance at http://tradingsplits.blogspot.com
12theWild1

February 18th, 2008 at 6:28 pm

so from this interview I learned that people get excited when they have the chance to make money. interesting.. haha. I wish I had knew of WSW during the 1st season.
13Whiskey Mac

February 19th, 2008 at 8:46 am

Good morning… (XFML). News of placing capital prefered shares. Not exciting. But I’m watching this jump out of the starting gate. I bet it will get on to the Yahoo Gainers List today. its a POS company, no reports, small cap, no info on its float, Chinese Co…. I wonder if it looks like a good opportunity to pull shortie out later in the am…..
14Stan

February 19th, 2008 at 9:08 am

whiskeymac, pre market is around 5/5.05 and it closed at 4.85 on friday, do u think theres a chance it can surge higher than 5ish at the open?
15Alvari40

February 19th, 2008 at 9:51 am

What a pain in the ass for IDMI. Tried to short at 3.46 and kept getting Reg SHO message. Called broker and was able to acquire only 1400 shares at 3.46 (short). Anyone else with this problem today?
16timsykes

February 19th, 2008 at 10:38 am

Shorted 1,500 IDMI at $3.23
17Alvari40

February 19th, 2008 at 10:48 am

Tim,

Thx for reply. I am still holding from the 3.46 level. Looks to be bouncing from the double bottom level but the gap is still open.

I am also short CUBA from 9.14 roll over. Terrible news to run up as much as it did.
18timsykes

February 19th, 2008 at 11:10 am

Anybody else here playing IDMI? Love how big buy blocks of 40k, 35k and 25k all showed themselves around 3.22, 3.23, only to disappear a few minutes later as the goes to 3.20 on 1,000 share sell. Gotta love those games!
19NeilTheRealDeal

February 19th, 2008 at 11:33 am

Why is IDMI a good short? shouldn’t we wait till it stops hovering around 3.20? I just finished your book in a day. I couldn’t put that thing down.

-Neil
20NeilTheRealDeal

February 19th, 2008 at 11:37 am

or did you just answer it in the post above haha? I’m one of those annoying amateurs by the way. But I gotta start somewhere.
21Whiskey Mac

February 19th, 2008 at 11:42 am

Tim, Been watching SWC this am. Its on your list and it seems to be breaking out even further.
22Jeff C

February 19th, 2008 at 11:46 am

Anyone else watching ILDS or VLNC?
23timsykes

February 19th, 2008 at 11:56 am

IDMI–volume faded bigtime, big sell blocks coming in above, unless it gets some big buying or spiking, its either gonna be barely positive for the day or negative, a great sign of a reversal. if we can take out 3.15, panic might take this to $3ish, then if we take out that level, 2.80-2.90 seems likely. we’ll see, could spike still, i’d feel a lot more comfortable if we took out 3.15

SWC–who knows when this thing stops, i’m def.not shorting or buying

ILDS is a takeover, useless.
24timsykes

February 19th, 2008 at 11:56 am

Out of IDMI at $3.20, i don’t like this bottoming here, too much risk of spiking as i said in my last comment
25James

February 19th, 2008 at 12:12 pm

We should take this conversation to the forums!
26timsykes

February 19th, 2008 at 12:18 pm

damn squeezed out by a fakeout, idmi right back to the key 3.15, looks like it’ll take it out this time. damn, too squirmish
27be-the-ball

February 19th, 2008 at 12:28 pm

CTIB up on a takeout by WalMart rumor. In 5000 large at 5.5
28be-the-ball

February 19th, 2008 at 12:35 pm

taking profits CTIB 5.9 here
29timsykes

February 19th, 2008 at 12:39 pm

haha CTIB “rumor” floated by those who were pissed the crains article didnt help the stock. good trade BTB, gotta be quick
30be-the-ball

February 19th, 2008 at 12:46 pm

yeah, tim, real quick, fat fingers cost me ten cents on the entry..oh well still one of my better trades the past 2 weeks. a better man would have gone short at the same time as the sale :-)
31Mike

February 19th, 2008 at 1:23 pm

Tim, you should definitely get back into COIN again.
that pattern is rather predictable, whether you are long or short.. you just gotta give it a little patience
32Stan

February 19th, 2008 at 1:27 pm

is there going to be any shorting possibility with CTIB after this “rumor”?
33be-the-ball

February 19th, 2008 at 1:38 pm

stan,

it is a good looking chart and if it closes well, this would be a breakout on volume, regardless of the cause. i would not look to short it here.
34Joey

February 19th, 2008 at 1:42 pm

Hey there TIM,
are you watching FRPT? Ready to explode or should I still watch and wait?
35Tony

February 19th, 2008 at 1:43 pm

Tim,
Your honesty is very unique. I have a question I hope you can help me with. I really want to become a full-time day-trader. I have no experience. I have read numerous books, but I need something more. Would you recommend any of the companies that do live educational seminars, prop companies, etc? Would you recommend your dvd series for a beginner? I would really appreciate any type of direction you can provide.
36Stan

February 19th, 2008 at 1:48 pm

betheball, just thought id throw that out there just for discussion, im just an amateur.. new to he game and still learning
37be-the-ball

February 19th, 2008 at 1:56 pm

stan,

i am no pro myself, just got lucky that CTIB was on my breakout watch list. good luck out there…
38Stan

February 19th, 2008 at 2:02 pm

SWC - I know Tim, you said it was a scary chart.. i bought it at the open, missed its highs of 17.70 but it seems like its a great pre market mover and up a lot over the recent days so I’m looking to hold onto it till tomorrow morning. The boring sideways movement is keeping me confident to hold till then.
Earnings come out on the 21st so im staying clear of that thats why I need to get rid of this. Commodity prices have faired well recently too. Maybe a quick 5% gain for the morning?
39Anthony

February 19th, 2008 at 2:04 pm

Hey Tim !

Are you moving the chats to the Forum? I’ve registered and posted, but not sure the are everyone will be.

Anthony
40Alvari40

February 19th, 2008 at 2:27 pm

IDMI

Careful of this one through the close (I exited my position at $3.19 ($3.46 entry). Price is whipping around somewhat and my oversold indicator for the 15 min chart is falshing. May go up from here to correct the oversold condition.
41Alvari40

February 19th, 2008 at 2:28 pm

falshing=flashing
42steve

February 19th, 2008 at 2:36 pm

OXFD up 8% any info
43James W

February 19th, 2008 at 2:40 pm

That’s one ugly ass chart.
44timsykes

February 19th, 2008 at 2:48 pm

I’ll play COIN if and when it breaks its range, I don’t do rangebound trades

Tony, check out my DVD package, it comes with an instruction manual and an autographed book, its meant for beginners, will teach u the risks and rewards of smallcap daytrading–very diff. than other market segments. I can’t recommend others because the ones I’ve seen are all crap.

FRPT, see my next post

FORUMS–yes forums will be much easier for everyone since its divided up. u can start posting there, i’ll have an official link tonight.

IDMI–until it cracks $3, this one is bottoming higher and higher. no likie to short

I’d love OXFD to keep going, good find!
45steve

February 19th, 2008 at 3:05 pm

NRVN and ASYT are also ones ive been watching up big today haven’t made any moves. nrvn up 140%
46Stan

February 19th, 2008 at 4:08 pm

whats the deal with OXFD? anybody know? About 20 cents a day so far..and no sign of stopping

Shucks on SWC for me.. I had a limit order for 17.70 and it actually got picked up…wasnt paying attention. I was anticipating a big pre market surge tomorrow just like it had today, it REALLY had some potential but ill take my gains :-)
47Tony

February 19th, 2008 at 4:39 pm

Tim,
Thanks. I’ll pick up the dvd package. Any thoughts on Oliver Velez (Velez Capital Management) or Bright Trading, LLC? After you successfully complete the training with Velez ($8995), you trade with 50K of his money and split the profits. Any thoughts on these two?
48timsykes

February 19th, 2008 at 4:48 pm

haha i dunno about velez. lots of “firms” out there making big promises, offering cash, i just dont trust anyone.
49Tarik

February 20th, 2008 at 2:26 pm

sweet video.

I got that rush once, playing online poker……I got handled.