Archive for May 16th, 2008
My whole KYUS saga…still a solid profit of $350 today, the only time I shoulda been playing this stock
The Right & Wrong Way To Short Sell A Fraud Like Kentucky USA Energy Inc. (KYUS)
Yesterday, a day after failing to be too aggressive with shorting known fraud CNEX, as it plunged from $7 to $3 and my readers made thousands of dollars, I saw a morning dip on fellow pump and dump/known fraud KYUS and shorted into it, 2,000 shares at $2.37. Although hugely manipulated, it was only up $1 or so—no $1 to $7 action—but I was afraid I was gonna miss out on a possible 50 cent drop. Not only did this trade break my trading rules—wait til the friggin afternoon you lil bitch!—but I let a prior trade influence a current one. Two major mistakes, so I deservedly was forced to cover into the late morning spike, at $2.56, rubbing the typical morning fakeout breakdown in my face. So, I finished the day with a loss of $413, after commissions, now nearly $1,000 of my highs just last week.
Today, with the stock opening slightly higher in the $2.60-$2.70 range and a morning meeting to work on TIMtv, I made sure not to even consider shorting until the afternoon. Not even when I saw it tanking to $2.40, just as I was walking out the door, was I tempted to short the 3,000 shares I reserved—if I missed it, I missed it. (that morning dip turned out to be yet another fakeout)
But by mid-afternoon, while still in the studio, after some solid sideways price action barely clinging to positive on the day, I saw the stock go slightly negative on the day and I said to myself, “this is a worthy pattern to short into.” I missed the initial drop as it just fell too quickly to $2.50, but I thanked my lucky stars that it bounced right back near the unchanged mark, just as I shorted 2,815 shares (135 shares didn’t get executed) at $2.58.
10 stocks to watch today
PDO already up $1.25, sux I’ll be away all morning workin’ on TIMtv, got 500 shares reserved to short if need be this afternoon
Also reserved 3,000 FORC and KYUS for potential shorts
10 Hot Stocks That Will Make You Tear Up & Be Unable To Watch FOX Biz
Yeah there’s lot more, but again nothing ideal to short…yet…especially all these crappy oil companies, nothing like a rising tide to lift all boats
ASIA exemplifies a slow boring breakout of a real company…makes me sick to my stomach how slow these things move, no wonder why 90% of traders lose money trading these things…blehhhh….I’ll take fake companies that move any day of the week
FORC=KYUS=HYBR as all three are known to have been sending out spam mailers to get people to buy their crappy stocks! C’mon guys, these companies are fake–ever wonder why I can say that and get away with it? Cuz it’s the truth and the fake companies don’t wanna fight me in court! I lost $400 shorting KYUS too early (detailed post coming soon)—not because I don’t think the stock is lower 1-2 months form now, but because I’m not gonna be around much today (working on a live version of TIMtv) so I couldn’t risk a big squeeze…yup, playing it safe to teach you guys a lesson!
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| July 30 | USS | $2.54 | $2.69 | $205 |
| July 29 | USS | $4.05 | $4.61 | $823 |
| July 23 | MKTY | $4.73 | $5.40 | $187 |
| July 22 | MKTY | $4.10 | $4.28 | $240 |
| July 21 | ZYXI | $3.03 | $3.18 | $130 |
| July 15 | MNLU | $6.37 | $6.73 | $340 |
| July 11 | IDAE | $2.27 | $2.49 | $630 |
| July 8 | ERII | $11.29 | $11.00 | $162 |
| July 3 | TGC | $2.14 | $2.39 | $471 |
| July 2 | HYGS | $2.15 | $2.29 | $260 |
| July 2 | TGC | $3.44 | $3.49 | $80 |
Total: $23,485 (
89%)
