13 Stocks To Short: “Don’t Fire Until You See The Whites Of Their Eyes”
Posted by timothysykes on Mon 31st of Mar, 2008 08:09:18 AM
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For you idiots out there–don’t be shy–that was the command given at the Battle of Bunker Hill, meant to get the patriots not to fire their weapons until the enemy was right up close to preserve their minimal ammo.
It’s incredibly applicable to these 13 stocks because as a short seller, you have tons of choices, but you must only open fire when your enemy–the stocks–are worth being shorted–that being into weakness, to give you the best chance at hitting them square in the chest and taking them down!
So far I’ve only seen the whites of the eyes on REED’s longs and that’s why I’ve been firing my Short Selling musket as if I were a patriot.
(REED)
(COT)
(HYBR)
(BPAX)
(WH)
(USBE)
(LUNA)
(VSE)
(GU)
(QBIK)
(LWLG)
(ERHE)
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|---|---|---|---|---|
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| June 24 | LZB | $4.53 | $4.81 | $1240 |
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| June 12 | JAZZ | $2.84 | $3.26 | $380 |
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| June 1 | USCN | $0.55 | $0.86 | $260 |
Total: $65,674 (421%)
So you’re saying that you should only short when the stock starts to come back off of its runup? Is that what you mean by whites of their eyes? You never actually say what you mean by weakness…
Thanks.
even at the top, a stock can show weakness by turning sideways and failing to breakout. or weakness could be a quick drop, bounce, slow fade. or a quick plunge, lots of different possibilities, thats why i didn’t mention them all
REED down to $3.30 now, gotta get greedier and hold
huge pop on REED.. tim hope you where not short already this am
darn, BPAX down big & Ameritrade had no short shares, they never have any
gary not sure what u’re smokin’, but i want some. REED is still down 50 cents on the day, don’t be fooled by the low volume and ridiculous spread…variables weren’t good for an AM short, good avoidance
BPAX nice morning tankage, had my shot to short 1000 at 4.39, but i held off because i prefer afternoon fades
SMBL starting to look weak here too
aww…Tim, don’t you know that it is way to early to pull ou the pipe yet. I was just hoping you didn’t buy @ $3.30…due to the fact it took a good 60 cent jump up.
Now, trading at $3.55…opppss make that 3.82 now!
Just heckling you “money man”
Hey thinking about riding COT on the way up.
damn just got filled on my ASTI short at $16.99…guess i shoulda had my limit order much higher! oh well, not a bad entry actually, even if its not a trade i really wanted
covered my mistaken ASTI trade at $16.69, sure, i’ll take $90, pays for drinks tonight
I got in BPAX @ 4.46, do you think this thing will continue to fall later in the day?
AKNS double top?
Akns, is trying my patient, has to fall lower….looks like it’s heading in that direction
akns bouncing around, plenty of support underneath, support up above, guess what its an efficient market, avoid!
bpax good short, could still yet bounce though not confirmed to be a negative day until the market close
looking for cot to break 3.75 what do you think?
good sideways price action on WH? or probably should wait for a down day right? this thing has been up 7 days in a row.
it broke! cot is gonna tumble!!! i hope….
3.75 on cot is MEANINGLESS
WH sideways action is MEANINGLESS
read the title of this post outloud over and over until it sinks in
u need fear, symbolized by a negative close
cot didn’t “break”, its just an intraday dip. yes it could lead to a big drop, but now u’re just guessing, like the rest of the suckers out there.
i really gotta push my DVD harder, maybe it’ll get u guys to understand this stuff better
why is that guessing? is that not a tell tale intraday technical break?
cuz its a little dip off the high, boo f$%$en hoo. don’t be an early short begging to get squeezed, wait for some real fear
Andrew…look at the past days! COT has many intrday dips ! All at what you would call strong points. Todays volume is still very high…Still strong.
I would say once volume breaks and it drops about the 3.40 mark, that would be a good break. and as I type there it starts to fall.
Hope it gets to your 3.40 mark for ya.
Hilarious Andrew. Going nuts over that?? COT? did you enter the wrong symbol down? How is that a tell tale technical break? It didn’t bust through some support anywhere. It just came down a little bit from its high.
and Tim, I wasn’t saying that WH was at a good point to go long or short. I was just saying there was sideways price action. And isn’t that what we look for?
But I guess you answered the question by saying we need a negative close
but COT is so overought it’s ridiculous, I’m definitely watching. It’s got a long way to fall once it starts
and besides that is IS the third day ya know
COT’s not overbought til $5 and no resistance until $5…looks like it fading now, but wheres it gonna go $3.50, $3?support at both levels. wish the run would continue more, oh well
and its not the the 3rd day, its the 6th day–when u have this kind of pattern, it can last MUCH longer than u expect, look at WH and all the solars
what would show you the fear in order to be short cot?
oh whoops shoulda refreshed before i wrote that thanks
hmmm now you scared me, taking my gain o this little CRASH, better than nothing!
well now cot is down more than 30 cents He was going nuts at a 10 cent decline. If he posted when it breaks through 3.40 or so then I think his excitement might be worth it. Then again I’m new to this. I think I have half a brain in my head though.
dont get me wrong, this is a great stock to short, u just gotta play it safe. cracking 3.75 turned out to be a good entry, but it was just a break of the past few minutes, nothing major. 3.66 at least woulda been a nice intraday head and shoulders and now its trying to go negative, another key point.
I’d say fear has kicked in, CRAP I covered too soon!
and its easy to borrow on TOS which is always a plus!
and easy on etrade.
Amiertrade has both SMBL & COT, I’m reserving some of both for later. I love this blog TIM, it ROCKS!
Val- how do you check availability on Ameritrade? Can you do it online or do you have to contact CS?
I just put in an order at a high limit to see if they’ll accept the order, that’s all. Like I have an order in to sell short COT @ $5.00, and SMBL @ $9.00. They are both open now, but intraday if I see an entry I like I’ll just change the order, most likely to a market order to get filled quickly.
Would LUNA be a good short today with the weak volume?
Tim,
Did you catch YTBLA at the top today? Would of been a good short.
I don’t even know what LUNA is but I’m guessing its a solar. Looks just like WH
Val, that’s a cool idea- thanks!
you’re welcome!
Tim-
You should look into getting a chat room or something. Refreshing this page is getting annoying…haha.
There is SEC rules or something against getting a chatroom. Someone already asked in his forums.
Are the Sykes pattern / super nova plays usually dead cat bounces?
Just to add to the whole COT shorting topic. One of the reasons why Cot shot up on Friday and this morning was because of rumours of a buyout by Cabury\Schwepes. For those who shorted at today’s high I think your in for a good run dowards. (unless the buyout occurs, but there’s nothing in the news)
Just my thoughts
I’m going to put my little bit of love on this one, shorted 300 of ASTI at $16.30. 300 PQ at $17.50 not ideal plays for you but they’re working a small bit of magic for some okay profits.
I got a nice short in the morning on GU today. Wondering if sell or hold for tomorrow. Looks technically broken, next break level seems to be 12.60. Chance of a drop tomorrow?
I went short LUNA this afternoon at $7.80. Anyone else short here?