Archive for May 6th, 2008
Controlling A Stupid Trading Mistake Means An Opportunity Lost
Despite my rather long list of potential plays I posted this morning, I had two clear favorites—LGDI and VRML—two sketchy and failing, respectively, penny stocks that were up in excess of 100% over the past few days on fluffy news, a contract and a poorly researched NBC video claiming this near bankrupt company was gonna cure Ovarian Cancer (seriously, I can’t make this junk up), respectively again. So, at 7am (early bird gets the worm), I dutifully reserved 2,000 shares of each stock to short—as both were hard-to-borrow—putting my limit orders waaaaay above (or as high as my buying power would let me) their current price, LGDI at $5.49 and VRML at $3.99, intent on ratcheting the down if and when I wanted to short.
Fearful of a large VRML price surge, I commented on my blog post at 9:36am “cancelled my VRML order, not enough buying power to worry about it executing” and focused on LGDI—as it was weak the day before. Tried shorting my 2,000 shares right near its weak open at $4.35, but didn’t get executed…it quickly dropped to $4.10ish, but I didn’t want to chase it…fearful of a morning fakeout (proven correct over the rest of the day—good avoidance)
Next up was VRML, which was spiking from $3 to $4.75…I posted “VRML sooo thinly traded, let it run, I still have my shares borrowed for the day, just in no rush to use em” Whew, glad I canceled my short at $3.99, as I celebrated in a post at 10:05am. Still, at $4.25, everybody is talking about shorting it, so I post THESE rules about patience
But now at 11am, I figure it’d be good to re-enter my short, so I login…wait a minute—WTF, my short had executed at $3.99?!?!?! I posted my disbelief as I chatted with Thinkorswim to see if there was anything that could be done about this error.
My Huffington Post Interview & Why My Readers Will Soon Be Richer Than Me
Check it out HERE–it’s definitely a solid interview and it’s great when a reporter actually takes the time to make sure the facts are correct (yeah suck on that Randall Lane, I’ve got an article coming about you tomorrow!)
PS Even though I screwed up today’s perfect PennyStocking plays rather royally–although controlled losses well–my analysis was dead on, so I’m pretty damn proud and happy that many of you readers banked. Here’s a quick and dirty rundown:
PennyStocking student Davey and Mark shorted VRML around $4.60, Davey covering conservatively at $4.33, Mark still waiting to cover (as of the last comment saw). Ryan shorted some at $4.65 and $5, covering all at $3.70, posting a great comment “With more than $3500 made in a single day today, I am up 72.86% up in 4 months. All this credit goes to our number one Tim!!”
But the gains weren’t limited to VRML alone. Tony Ellis banked $1,200 on COIN, Shthappns banked on UFPT…any others, I can’t even keep track of all the comments today—so please comment about your winners–and losers–in this post so we can see how everyone’s doing! Last one to $1 million is a dirty Jew!
Stock Puppets: A Funny Thing Happened On The Way To Cutting Through Industry BS
When I created this book-blog-DVD publishing business model that is BullShip Press, LLC, I figured I’d repeat my feat, become the top ranked / most popular guy on Covestor, show everyone exactly how to turn thousands into millions trading fantastically predictable penny stocks without using any leverage whatsoever, cut through all the industry corruption and ego, teach a few people and many former suckers how to profit from it, and piss a few others off by promoting my book An American Hedge Fund and instructional DVD PennyStocking in EVERY blog post (cuz they’re that important / helpful / necessary and help cut down too many questions / emails I get).
Everything’s been going well—and then, a few weeks ago, I discovered some bastard using a variation of my name, “timsykus1” on the animalistic Yahoo! message boards. I did some research and discovered the term for this kind of deceit is a “sock puppet”. I thought, okay, that was bound to happen, ignore it.
Flash forward to last night when I’m doing my nightly screen for potential pump and dumps and I come upon VRML, a miserably failing biotech in the same vein as its Paulie-from-the-movie-Rocky-like relatives REED, PSTI and VION, all of which were great to short sell into. And lo and behold, who do I see promoting this thing that belongs in a toilet—yup, “timsykus1” again, using my good name—at least to those who are blind in one eye—to pump this stock!
15 Low Priced Stocks: Buy & Short Sell Some, Avoid Most, Despise Them All!
First, let’s get the fun / useless guessing game contest over with—with YHOO’s $24.37 closing price, there were 2 winners: Ann-Nan Lo $24.50 and DarkMatter $24.24—congrats guys! (UPDATE: Ann-Nan Lo has been disqualified cuz her winning guess was her second…wow, my readers are on top of things!)
Now to business, stocks with predictable charts—doubt any of these topics will get 200+ comments, but gimme a few years to set you straight. Tons of plays, gonna be handicapped yet again by the SEC pattern day trading rule—all that handicapping inspired me to write one hell of a post, which I gotta vet with a lawyer…
VNDA
Yes its bounced, but its a ton off its highs and it’s an earnings play, still watching it, doubt I’ll have the buying power to touch it, f$#@ you SEC!
LGDI
My top play for today, made $350 ayer, look to make more if and when it cracks $4.40 to the downside, could / should move fast when it cracks as that’ll put it slightly down on the day, potential to go all the way down to $4, then it’s a game of whether or not stop losses can get taken out, $4.05-$4.10 if it holds, $3.60-$3.70 if it doesn’t…and this is all of course after the probable / hopeful morning short squeeze 
, which could / should retest highs, pleaseeeeeeee…game of chess baby, I don’t know how to play, only game I know is PennyStocking where you gotta think a few moves ahead!
SUNV
Kills me I didn’t short into yesterday’s spike, read my twitter message about it (Follow me on there to get quick messages like that), I was all set! That calls for my second f$#@ you to the SEC in as any minutes.
FEED
Lesson in why you don’t scalp these range bound suckers, use my friggin experience to your advantage you dumb Jews!
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May 11, 2008Cool interactive video interview we'll be trying out tomorrow afternoon, let's hear some questions!
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