The Latest Reason To Choose Technical Analysis Over Fundamental Analysis
On Wednesday, it took me about 15 minutes to recognize and write about (VISN) breaking out to new highs, suggesting higher highs. And, last night, I spent a few minutes scanning through all my stock charts—not because I don’t care, but because I’ve been doing it for a decade so I know exactly what to look for—it’s easy…that’s why I mentioned RDTA in this morning’s pre-market post—it was a perfect perfect breakout, suggesting higher highs.
But today, I forgot about both VISN and RDTA, spending a good two hours researching, writing, double-checking and formatting THIS blog post busting TheStreet.com for sloppy research, advocating and taking a short position, even if the chart wasn’t perfect.
And where did all this hard-hitting time-consuming research get me—I’m up 20-30 cents/share on my EDEN short position, I got a couple more website hits and I was able to rub in the fact that financial journalism is a joke. Trust me, I like all three—because it’s just the beginning for all of these trends—but I’d prefer making an easy $2/share like those who bought RDTA did in under an hour and $1+ share/share on VISN in 2 days (just need a little patience)…no hard work required!
The good news is no matter which course I—or you—take, there are easy profits everywhere because this game—this wonderful wonderful game—of PennyStocking really is that easy.
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1timsykes
April 18th, 2008 at 2:59 pm
Covered my EDEN at $2.36 for $200ish, not liking how well it’s held up, possible squeeze into the market close and the fact that I’m gonna be out of the office all day Monday…playin’ it extra-safe, long term shorts will probly be okay, I just dont have patience and am unwilling to let it go while i’m not here to watch it
2AJF-ESQ
April 18th, 2008 at 3:02 pm
I got in on EDEN at $2.42 and out at $2.70…..then there were no shares to short on eTrade at $2.46…but it has held up arounf the 2.35ish range
3timsykes
April 18th, 2008 at 3:04 pm
yup, thats the funny thing, its actually much easier to profit by buying these pumps instead of shorting them…but shorting is right over the longer term
4Max
April 18th, 2008 at 3:16 pm
awww, look at it drop another .10
5timsykes
April 18th, 2008 at 3:18 pm
yes, thats the beauty of these things, i was 10 cents off in my entry, 15 cents off in my exit, so far and i still made 20 cents…very tough to not make $ when u have such ridiculous pumping…others can and SHOULD do better than me, they just gotta learn how to play the game
6Lewis
April 18th, 2008 at 3:28 pm
TIM, What are your thoughts about RDTA? 30% pop today
7Oliver(TIMBUCKS: $12)
April 18th, 2008 at 3:29 pm
tim, have you seen avct? do you think there is some downside for monday?
8timsykes
April 18th, 2008 at 3:32 pm
RDTA ia picture perfect breakout, i dont short those till they get waaaay overextended, just not enough downside to interest me yet, kinda like BEXP
AVCT is earnings, i dont short earnings breakouts
9Lewis
April 18th, 2008 at 3:34 pm
Do you have any idea where the news about RDTA came from? TheStreet maybe?
10burky(TIMBUCKS: $16)
April 18th, 2008 at 3:40 pm
Tim, check out Superman’s post. TheStreet regrets their error on EDEN. Maybe they read your blog!!!
11Margie
April 18th, 2008 at 3:45 pm
Darn, RDTA still moved up another 15% higher than I cashed out. Who knew it will go up 37%, except Tim showed us early in the morning at 4:00AM. RDTA not available to short anyway, at least at AMTD and Scottrade.
Tim, you mentioned about TITN several times, it broke out, it is going to sustain or going to drop back? Any thoughts? Thanks.
12AJF-ESQ
April 18th, 2008 at 3:47 pm
Tim, you made a believer out of me and I’m about to buy the DVD…..one question before I do, how and where do you find the stocks that you follow? Thanks.
13InvestorsLive(TIMBUCKS: $35)
April 18th, 2008 at 4:14 pm
nice play today - lots of movement all around
14Goose(TIMBUCKS: $33)
April 18th, 2008 at 4:35 pm
SLXP - a huge drop near trading hours. But up in after-hours. Tim, what do you think ?
15timsykes
April 18th, 2008 at 4:39 pm
titn, rdta, slxp i could care less–no setups or potential setups right now
here’s how i find my stocks:
http://timothysykes.com/2007/1.....ill-trade/
16AJF-ESQ
April 18th, 2008 at 5:05 pm
thanks Tim
17ExcelTrader
April 18th, 2008 at 9:19 pm
“AVCT is earnings, i dont short earnings breakouts”
What sources do you use to find earnings release dates? I find that earnings release dates that are listed on earnings.com, yahoo.com and clearstation.com are often wrong (and different from each other!).
I created an excel file (ExcelTrader link goes to file) to automatically search for earnings dates from these three sources so that I can avoid any stock during earnings release {gambling IMHO).
Would like to know of other sources that i may add to this file.
18timsykes
April 18th, 2008 at 9:32 pm
i dont care about earnings dates cuz i play stocks that already are in play, i just gotta look at the news to see!