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Timothy Sykes Is Sssssssso Ssssssstupid!

Posted by timothysykes on Wed 27th of Feb, 2008 04:51:50 PM
  Tags:

TIM $15,688, Down $140, You Can Do So Much Better Than Me!

Ahhhhhhhhhhhh what a stupid, stupid, stupid loss, I feel like this guy:

snorkel2 Timothy Sykes Is Sssssssso Ssssssstupid!

The beautiful thing about PennyStocking is that you don’t have to scan through thousands of stocks every day, looking for the latest and greatest. No, it’s best to trade stocks that have been in play for the past few days so plenty of fickle day traders are involved. That way they’ll be volatile and liquid, two qualities most needed to give you the best odds of profiting 5-20% on a trade, long or short. Read some past blog posts and you can see me transitioning from one stock to another, whatever fits the patterns I’m comfortable playing.

COIN couldn’t breakout so it’s back to the 12-13ish range, aka not volatile enough for me (for higher priced stocks, I want 20-50% intraday moves or else with my poor timing skills, the odds of success aren’t very great) so the two plays on my radar today were SHZ and DARA, both looking like they could spike and inevitably fall (I wish I could buy, too, but I just suck at it) I woke up early to borrow shares to short, but Thinkorswim had no DARA, just plenty of SHZ to go around, so I reserved 600 shares.

The stock opened lower and I had a chance to short at the open at $7.67, just 1 cent below where I covered yesterday—a penny I’d gladly paid to avoid any overnight holding risk—but now, my screwed up COIN trade fresh in my mind, I couldn’t risk shorting too early, I had to watch out for that morning spikeness risk! So, I waited.

Within 10 minutes of the open, I coulda woulda shoulda covered at $7.31 those shares I coulda woulda shoulda shorted at $7.67, but we’re talking only $100ish in profits, ideally, before the morning spikeness came in, on very low volume, pushing the stock up big. Not an ideal trade, good avoidance. From 9:45am to 10:15am, the stock surged from $7.30 to $8.75. Ahhhh, volatility. Even though I knew I shouldn’t be shorting in the morning and more importantly, I had an 11am meeting, I thought this was just a brief spike so I shorted 400 shares–not the full 600 I’d borrowed–at $8.40, only 3 cents off where I successfully shorted yesterday, and right at yesterday’s busted support (broken support becomes resistance) Sweet, a gift, yes, please!

Twenty minutes into my trade, and 15 minutes before I had to leave, it wasn’t such a gift with the stock gyrating between $8.50 and $8.80. Damn my impatience! But there were sellers, plenty of big block sellers, so I wasn’t worried. As I got ready to leave, I figured I’d put in an order to give me a nice profit in case the stock dropped enough. Since I knew there’d be buyers trying to prevent a negative close around $7.70, I put in my buy to cover order at $7.75. It executed immediately?!?!?!?!?!

This idiot made a fat finger mistake, entering a limit order of $8.75!!!! My limit was above the current asking price so I bought 100 shares at $8.69 and 300 at $8.73, for a ridiculous $140 loss! Ahhhhhhhhhhhhhhhhhhhhhhhhhhhh!!!! What a freaken moron! Ahhhhhhhhhhhhhhhhhhhh!!!!!!

shz0227 Timothy Sykes Is Sssssssso Ssssssstupid!

I took my anger out on my front door and went to my meeting. The stock rubbed my mistake in by downtrending for the rest of the day. It’s not the dollar loss that gets me—even if I had held, my gain woulda been minimal, like $100—it’s the poor execution that pisses me off, especially after yesterday’s perfect trade. This was not my first fat finger mistake nor will it be my last. Good news is this time thanks to the TIM project; it cost me about 5% of what it did last time!

TIM Lesson: Always double check your limit orders before placing them

check yes yes2 Timothy Sykes Is Sssssssso Ssssssstupid!What I Did Right:

– Not wanting to risk a overnight/morning spike, I didn’t hold overnight into today

– Shorted into the morning spike at yesterday’s support (now resistance)

– Small position size

– Posted my trade on this site and on TheLion, so others who are less stupid than me, profited

cross no no Timothy Sykes Is Sssssssso Ssssssstupid!What I Did Wrong:

– Didn’t wait until the afternoon to short!

– Traded even though I knew I had an intraday meeting

– Not an ideal pattern to short into given the low volume and its already sizable drop off its highs

– Fat Finger Mistake, Ahhhhhhhhhhhhhhhh!!!

PS: DARA enjoyed some sweeet morning spikeness of its own before downtrending gradually, 25% off its morning high, 2 ideal times to short, 1.) at the first signs of weakness on the morning super spikeness 2.) when it cracked the sideways price action at $5.05, fifteen minutes before the market close.

dara Timothy Sykes Is Sssssssso Ssssssstupid!

Tomorrow it can still spike on the open, maybe a bit more, but it’s tough to sustain momo on the 3rd day, as SHZ and IDMI have proven lately. Whatever the outcome, add its chart to the pile of other microcrap momos, I’m not making this PennyStocking junk up, it really works and I’m really not that great at it! Ahhhhhhhhhhhhhhhhhhhhhhhh!!!!

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  • Brian D
    I went long and then short on DARA and managed to do 12% today. I'm holding my short overnight which could be really stupid. Luckily all my classes are next door to the computer lab tomorrow so I can leave and end the bullship if it decides to startup again.
  • mitil
    wouldn't an OCO type orger come handy when you are in such a situation and have to go to a meeting?
  • I short SHZ at $8.53 and buy cover at $8.20..not a bad trade..

    hear you about limited order..last year, one mistake cost me about $120k. I did not lose anything but I lost chance to get $120K return that afternoon.
  • George Johnson
    Tim, why are you so impatient and so stupid? Just wondering. Thanks for reply.

    John
  • timsykes
    hindsight is easy. u see opportunities u take them. if i waited for only perfectly ideal trades, i'd be trading 6-18 times/year. thats boring. and u guys wouldnt learn anything
  • chris
    Tim,

    LKQX

    I almost shorted today close to 23, but just couldn't do it. It closed shy of 22 with a small selloff, still up nearly 20% for the day. Your thoughts? I know this is not a penny stock, or is it?

    Thanks
    Chris
  • timsykes
    i dont short earnings plays, espeically those breakin out to new highs.
  • timsykes
    (I prefer shorting failing or fraudulent companies!)
  • Nick
    Tim--checked out your library (saw you read atlas shrugged and were a philosophy major--cool stuff), but as a hella newbie to stocks, do you have a section that will point me in the right direction to get started

    thanks
    pupil nick
  • timsykes
  • Dan
    AGIX You need to buy it Tim. Haw does the chart look now after the past 3 days. From .57 monday to today .77 not to bad Tim lol. What do you think now Tim.
  • Brian D
    Trading for a Living by Alexander Elder sorry if you all dislike him but that was my first book I ever read pertaining to the subject. Have read, and re-read many times over. Reminiscences all the way.
  • timsykes
    AGIX still sucks! its not volatile enough for e, its not my chart pattern, like i said let me know when it gets p to $2 or $3, then i might play it. theres tons of moves i'll miss, but i stick to whats worked for me.
  • sonid
    TIm, take a look at the COIN chart from the jan 14th run up..... It's almost identical to SHZ. I think this will be a good cliff diver once it cracks 7.20ish What do you think ?
  • Dan
    Why are you watching QTWW then. I think that charts sucks and AGIX chart is ready to explode up
  • chris
    Thank Tim for your response. How is one to know what is fraudulent? To be honest, from the outside, COIN looks like it could be good be a good investment (VALUE - Don't hate me. I like your concepts, but would like a small portion of my funds to go long in a good investment, is that possible in today's market?). I hear people say they have like 6 employees, etc. In fact, I was going to go long when at 10, but was waiting for it to dip to 9 and didn't last week. Coulda, woulda...
    Again, thanks for your help.
  • timsykes
    COIN will die eventually but the break abover 11.50 is so bullish its scary. gotta wait for the momo to die out, tomorrow's SEED's nasty report should hurt cOIN a bit, we'll see how it acts

    I watch thousands of stocks, doesnt mean i'm gonna play them. Tomorrow only ideal play for me is DARA, multi-day exponential setups, thats what i like
  • timsykes
    no idea if any of these fraudulent, i dont want to know, if i did, i'd have to post my research and risk getting my kneecaps smashed. forget that. safe to assume the worst in all of them, it'll help u remain unbiased against their perfectly sugarcoated PRs and exuberant management who always says the future looks bright. gotta hedge your emotions or risk getting sucked in by their kool-aid
  • Stan
    RYL came across my attention... maybe in the middle of some sideways action and ready to go down. 4 days in a row its been up a good amount but the company is a piece of crap.
    what do you think??
  • timsykes
    I'll s hort RYL if it breaches $20, nowhere else, looks too strong
  • chris
    Thanks Tim.

    I saw DARA too, and was considering. I am thinking of opening an acct with TOS to short such stocks as an alternative to my ET act. I couldn't short IDMI and it cost me a lot...Does TOS require 25k in the acct if you are a pattern day trader?
    I'll start putting some water in the kool-aid...
  • timsykes
    i dounno what TOS's deal is with pattern day trading, they let me trade as long as i don't abuse margin, so that means like 1-2 trades/day but no more
  • eric
    Tim great post and very informative! I like how you posted what you did wrong and what u did right. Lots of information on your blog to digest! I enjoy the shorting game way more. TOS let's you skip the pattern day trading rule?!?!?!? Nice! Im starting to think TOS stands for Tim or Swim.
  • Stan
    TYM and SEED look to be good shorts to take over on open? also DARA?
    I think TYM looks the best though since its been trending downward in a little more predictable fashion. Thoughts?
  • Gibran
    DARA
    I saw this big spike Tues. and considered shorting but looking at all the bids and it just told me to go long. I actually was catching this falling knife buying and began to feel nervous (amateur) but after looking at other charts similiar to this one I decided it should give about 2-3 days of gains then start to come back down (I think).

    Luckily I held over Tues night on with 600 shares @ avg. $4.38 and sold today @ $4.90 = P/L: $308.00. I could have sold around $6.50 DAMN, but I'm more than happy with this gain!

    I then considered shorting after it hit a nice high but stayed away after making a nice gain....
  • Funterpwave
    Tim, what's your stand on margin? Seems you stay away from it. Any reason or am I wrong?
  • timsykes
    Woooohoooo got 1000 shares of DARA reserved short for the day, c'mon morning spikeness!

    I use margin to short, I stay away from leverage, that way for all my mistakes, I never risk disaster
  • Tony Ellis
    I can only get 314...oh well taking what I can get
  • Ivan Mutaftchiev
    Tim,

    what do you think is going to spike up big this morning ? I'm looking to go long....
  • Aegir
    DARA looking good in PM.
  • Alvari40
    Tim,

    Educate me. You use "margin" to "leverage" your buying power.
  • timsykes
    i suck at longs and i don't see any clear breakouts, no idea whats going up

    just shorted some DARA at $5.35, only a small position, have more shares to short on the way up, but i'm too afraid this thing will collapse without me.
  • Stan
    is MF a good short to hold throught the day? They will open down 10%
  • Stan
    ehh too late now for MF
  • Stan
    dara up to 5.85, no shares available to short @ Scottrade. darn
  • ETQT
    shorted some DARA @ 5.70
  • timsykes
    added some more to my DARA at 5.53
  • timsykes
    total average 5.42,,,, i suck at timing but u gotta love this strategy, now 512 x 5.25, can't wait til we take out those stops at 5 either late morning or afternoon!
  • Stan
    im so pissed at scottrade. my 1000 @ 5.85 got rejected and i would have covered at 5.07 thats like 800 bucks!
  • timsykes
    GET OUT OF SCOTTRADE!

    DARA bouncin a little here, but not a big deal, sellers just took out a 10k buy block at 5.31 in less than 2 minutes, somehow i doubt buyers would be able to do such a feat at these prices
  • ryan z
    short entry AXTI @ 5.95 held over night exit at 5.74.... it was risky but thanks for teaching me to read graphs and not hesitate to pull the trigger tim!
  • burky
    Paper trading here until I get a TOS account. Wasn't sure how high the morning spike would go so held off. Caught the bounce at $5.30. C'mon ... break $5!!!!
  • Stan
    i know ive been planning to take all my money out and put it in TOS soon
  • timsykes
    excellent price action, right back to 5.05 x 5.20, the 5s are gonna try and hold for a bit, but i just don't see some short seller or scared seller not coming in and taking them out sometime today. then we're talking 4.60-4.80 and TIM $16.5k!
  • timsykes
    got faked out by those big block buyers, i'm all out at 5.15. what a horrible exit, have fun guys, this is going under 5
  • lmsmith
    Ohh darn- I missed the boat on this one- Mr. Scottrade sucks..
  • ETQT
    as you type...dip to 4.95
  • lmsmith
    Tim you should have held....it's at 4.95 now
  • Eric T
    Anyone notice BRKR yet? any longs or shorts?
  • lmsmith
    This stock is clearly going down!! Congrats to those who caught this one early..... I might go long on it at the end of the day- it seems to have the morning gap up?? any thoughts?
  • timsykes
    of course i should have held, but i also have meetings today and my screwed up entry too made me average up, so this was a $7,500 position for me, waaaaay too large, can't risk it away form a computer. i wouldn't be surprised to see 4.50 on this today. still TIM $16k. horrible trader, great strategy, same old same old
  • Eric T
    lmsmith - go long on DARA? What hints are there to go long at end the end of the day?
  • burky
    I didn't see that big buy block on DARA at $5.15 fill - did I miss something or did it just get pulled?
  • timsykes
    there was a big buy block at 5.10, probly just a short seller putting in a fake buy order, trying to scare bitches like me into covering. it held 4.90 this time, so i'm not totally crazy, just disappointed as usual
  • lmsmith
    Eric T- no hints just random- based off of the past few days....It seems to spike up in the a.m - may hold and slowly fade in the afternoon...... I was just asking opinions, not that I will necessary execute
  • Eric T
    lmsmith - hold position overnight and sell the next mornint at the spike up? yea,,, i also wonder if DARA will do that
  • lmsmith
    Yes - my exact thoughts.....
  • timsykes
    it spikes in the A because early shorts are getting squeezed...judging by this morning's action, yes, it might bounce and stay positive, but it looks liek the squeeze is mostly over. if it acts like i think it will, we'll have sideways price action followed by an afternoon fade---thats the time to go short and probly hold that overnight down to $4
  • Stan
    really? u think it can go down to $4 tomorrow? wow
  • Aegir
    Tim are you still in DARA.
  • KS
    Nice trade on DARA, but patience. Hold on to some shares to buy back lower later. How come you don't scale out of positions, much like scaling in? I realize these plays move fast are not very liquid, but yeah they may pop for a few minutes or so, but eventually they are going to bust lower.
  • timsykes
    Aegir, read the comments, its all there, I'm out

    I dunno about $4 tomorrow but probly in the next few days, lots of bitter shareholders happy to get out on any bounce
  • timsykes
    4.73. god i hate myself. welcome to my business model, watch TIM screw up completely, know he's screwed up, unable to get back in due to ridiculous rules, and watch his readers reap all the rewards...TIM $16k, only $9k off from freedom!
  • Aegir
    Tim, HURC any comments on that one?
  • Stan
    whats you opinion on SEED? that would have been a big score today! maybe it will drop tomorrow too? but just not as much as today obviously.
  • timsykes
    HURC and SEED, both unpredictable chart patterns, both earnings plays, not my game at all, avoid
  • Davey
    Tim,

    How about a little love for brining DARA to the blog, I'm still in and I'm loving TOS, that live chat works awesome they got me shares in a split second.
  • timsykes
    who cares who brought what stock where. DARA popped up on about a dozen of my technical screens. here there will be no praise given for finding stocks, finding stocks is easy....praise will only be given for finding patterns or for playing those patterns correctly based on previous patterns. we're not stock pickers, we're pattern players
  • tsa
    What is your opinion with the IDMI current surge
  • Aegir
    Hey tim, is there not any pick that you are watching?
  • Davey
    Whoa, handing out slices of humble pie lol, but I did mention it because it was setting up as the patterns you play. As long as we're all making money, I'm good.
  • timsykes
    i see the idmi spike, no way to buy or short it, still mid-range

    no other picsk on my radar other than VISN which i posted about last night

    no humble pie needed, it was a good find, i just want people to bring me patterns instead of stocks.
  • lmsmith
    Any one shorted SHZ?
  • Ivan Mutaftchiev
    Tim,

    What do you think about shorting OME ? It's trying to go back into positive territory after being down all morning....
  • Hello, Your site is great. abra2 [url=http://www.abra3.com]abra3[/url] http://www.abra1.com [URL]http://www.abra4.com[/URL] Regards, Valiintino Guxxi
  • pete
    tim,
    im new, but im down with you game on patterns. please give me a stock that has your ideal chart pattern, ill study it and find more patterns like it.
    pete
  • timsykes
    see the sample slide on my dvd
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Start Here

Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

TIM Trades

View All
Date Stock Buy Sell Net
Nov 19 AENY $2.80 $3.02 $1148
Nov 18 NLST $4.16 $4.40 $947
Nov 18 IMGG $1.42 $1.64 $2094
Nov 17 NLST $5.04 $5.59 $2195
Nov 13 VRMLQ $21.50 $22.97 $2901
Nov 11 EONC $2.61 $2.80 $687
Nov 10 EONC $2.74 $3.36 $9784
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $98,094 (681%)