Sykes’ Saturday Seven: April 12th, 2008 Edition

Stupid stupid teenage girls film assault on another teenage girl specifically to post video on Youtube, video’s gone viral, but they’re in jail…no joke…disgusting…

10 movie gadgets that have become reality

Forget website analytics, time to start analyzing your email, but only if you have Gmail (Gratzie PK)

Another successful—if not legendary—trader gives his rules for success (awww c’mon Todd, no banjos?)

Learn your history, venture capital history that is

Get the WSJ for free!

Inside the panic at E*Trade…you stupid stupid longs don’t even know how close to disaster many of these financial firms are coming

TIM Lesson: Never buy or short sell falling knives, much is happening behinds the scenes, none of it is predictable  

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Short Selling Penny Stocks: Decent Profits But The Mistakes Remain

Late Wednesday, when I posted this article predicting a 25% drop in (PSTI), I thought it’d be over and done with by Thursday. But that move didn’t complete itself til today, my baaaaaaaaaaaaaad!

Can’t believe I covered my short above $4, too much of a lil bitch to hold this sucka. Sure, hindsight is easy, but look at the eerily similar price action after the last spike…probly more downside Monday. How about this, I’ll just go on predicting, you guys handle the trading, deal? :)

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A Legendary Trader’s Music Video…Seriously

Other than legendary billionaire traders, you should listen to legendary-not-quite-a-billionaire-but-still-damn-successful-traders like Ed Seykota who’s featured in required reading Market Wizards. There’s little doubt as to his trading abilities, his musical talent, well,that’s a whole different story…let’s see what you guys think:

Gratzie Covel

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Revolt Of The Untalented Financial Writers!

Many of you are familiar with Seeking Alpha articles–mostly because SA’s founder David Jackson did a great job getting his content onto Yahoo! Finance–it ain’t due to the quality of work! It’s more because the financial media circus is all about more content.

Breaking news, earnings, scandals…bleh blah blah, all the most active stocks must be covered and dissected by boring-ass stuck-up finance freaks, all of whom put together are less entertaining than a block of wood all while they consistently underperform the major indexes aka people who should have no audience whatsoever and instead focus on learning how to beat the market and not being scum-sucking fee-earning marketers who take advantage of the general public’s lack of market understanding.

So, it’s rather funny to me–and it should be to you too–that many of these wannabes are revolting against SA, angry they’re not getting paid for their efforts.

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Scanning The Horizon For Worthy Stock Trades

Thanks to (GE)’s pathetic excuse for a business, it’s stormy out there today! No new stocks on my radar today…lots of microcrap traders are playing (FRPT) and (MNKD)—TheLion.com’s all hopped up on them as if they were Mountain Dew. I like volatile low priced stocks just as much as the next guy–ok, maybe more–but not those of falling knives—their movements are based on rumors and speculation of further contracts/news…I hate trying to predict news…no I prefer predicting the effects of sketchy promoters and gullible suckers.

Speak of the devil..unfortunately, there’s no shares available to short of (PSTI) today—something tells me it’s gonna take the big dump under $4 today or Monday, but with my impatience there was little chance at me holding for a few days…as would be the correct course of action (as is usually the case aka you can do better than me!)

(COT) looks ripe for a big fall, at least down to $3, then it’s a question of whether or not it can take out stop losses there.
 

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Easy Short Plays: Short Selling Hyped Up Failing But Spiking Biotechs The Sequel

Last night, I posted about how excited I was to short another failing biotech into a ridiculous penny-stock-promoter-fueled price spike. Just like the last time, I wanted a 25% drop in stock price, but I didn’t get that, the price action just didn’t play out as I wanted it to—a decent 8% drop, but no big freefall. I still made $180 today off my wrong thinking, so life could be worse.

After an initial 15 cent spike to $4.67—not scary at all cuz it was just one big buy 14k buy order (what is it with these guys, other one at $5 yesterday) that got taken out quickly—the question was could we take out multi-day support at $4.35-$4.40…most of the morning it couldn’t so I covered 700 of my 1,000 shares at $4.40, a disappointing 10 cent/share gain…then it bounced, then very gradually it declined, but still didn’t crack, so I covered my other 300 at $4.37, then gradually…so gradually…$4.35 got taken, then $4.31, $4.25—I re-shorted 1,000 at $4.25 looking for a domino type fallout from stop losses getting taken out there, then onto $4…

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The Office Of A Real Wall Street Player

Forget fancy offices filled with fee-earning overdressed big talkers, this is how a Real Wall Streeter operates:

Gratzie Lindzon

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The Second CNBC Stock Pump In As Many Days

I’m always ripping on Inspectd.com for being too simplistic/dangerous/giving chart reading a bad name…here’s a perfect example why, GTE, the latest Jim-Cramer/The Rock CNBC/WWE pump…yup, it’s been a whole 2 days since the last one…hurtful to naive investors…unethical…great for speculators…wake the f%#@ up SEC!

Chart shows a clear breakout, but it’s already off its high cuz this ain’t big-time breakout-type news. Sure, shorts are scared—as they should be—Jim/Dwayne/Cramer/Johnson’s no dummie for picking a solidly uptrending stock near its highs…but c’mon, can you smell the fakeout cookin’?

UPDATE: Now TITN breaks out to a new high thanks to a CNBC ention–damn, stock promotion is a happening biz, Lebed, you must be making some good $, right? Maybe CNBC should think about getting reimbursed by these companies, just put a lil disclaimer that no naive investor would ever see…c’mon Ge, you know you wanna, get those annual profits up from $300mil to $400mil, you can do it, you can do it all night loooooooooong!

Disclaimer: I have no position in either stock, I’ve tried playing The Rock’s picks from both sides, some stay up, some reverse, no edge, not much predictability, no thanks…I just think it’s wrong how the WWE frames it, creates a lot of unnecessary bad blood, ya dig

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Why Low Priced Stocks Crush High Priced Ones aka I Love Frauds & Failures!

Let the records show (CRY) and (NOG) as Exhibits A and B, whose charts I’ve posted HERE and HERE, respectively. Both have gone in the direction I predicted—CRY higher on the breakout and NOG lower after going vertical—but I haven’t touched either one. I’ll tell you why.
 

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