Archive for May, 2008
Lost $600 breaking my own rules, shorting FPP too early, screw sleep, detailed post coming!
New post to pass the time
One Incredible Website For Free MP3s And An Interesting Brunch…
Forget finance for a second, while we’re for these commodity plays to breakdown, check this out…First, the incredible website, ListenToYouTube.com—you type in a Youtube video URL and they extract an MP3 out of it within a minute for you to own freely forever. How great of an idea is that? And despite my stating in a Huffington Post interview a few weeks ago that I’d never give into the whole iTunes, well, I gave in, buying a Shuffle, which is good for workouts. Paying $1/song just was never in the cards for this cheap Jew so I’m glad this site came along or else I’d risk downloading nasty viruses.
Speaking of nasty, I gotta get your opinion on something…I was at brunch over the weekend with one of my friends who has a tiny Chihuahua…when the food arrived, she reached down to give her some to her dog…by way of her fork.
17 Hot Energy Stocks aka Soon To Be Great Short Selling Plays
PennyStocking DVD students understand worthy trading opportunities only come about every so often—all the normal daily stuff is just too random/unpredictable—so by focusing on these few truly predictable situations, your profitability increases exponentially. If you can keep a cool head when everyone else is going crazy around you, this game gets much easier…that’s right, you 90% of trader losers out there, now is the time to try to recoup your horrific losses! (I’m talking to you, you sad little ETers)
I’ve been posting about PDO, MXC and FPP the past few days—even taking quick losses totaling $400 shorting FPP and MXC too early (wisely as it turned out, as those losses would now be pushing $5,000!! Uhh yeah $5k in gains from the long side, if I had any talent whatsoever doing that, which I don’t)—but only after we’ve gotten 3 strong up days are they prime for potentially predictable reversals, the extent of which we’ll have to wait and see…by now you guys should know the signs fo what to look for.
Since we’ll surely be missing them when they’re gone soon, I gotta link to every other site that’s featuring them HERE, HERE and HERE.
MXC ($10 to $43 vertical action, but its got some fluffy news)
Important lesson for shorting these surging bastard stocks
Can MXC longs/short getting squeezed take out this 35k sell bloc at $42? If it does, welcome to short selling pain for a lot of you
Don’t Short Sell Into Sideways Price Action Of Stocks That Are Still Up Big On The Day!
Lots of folks either have shorted or are thinking of shorting confirmed Supernova MXC here just above $40. Their reasoning—it cracked sideways price action, mistakenly believing it to be the kind of price action I always—or at least should always—look for before short selling one of these rocket ships.
WRONG!
My kind of sideways price action can NEVER occur when a stock like MXC is still up $13/share on the day, or on FPP yesterday when it was up $1.50/share, because the longs have no fear when their stocks are solidly up on the day and that opens to the door to potential end of the day and tomorrow morning at the market open short squeezes. Because they know lots of short sellers are salivating to short these things, just as they were on MXC at $15, $20, $25, $27 (me, but I covered quickly for a-now-proven-to-be-infinitely-wise 40 cent/share loss), and on FPP at $4 (me, covered again, wisely now it seems for a 20 cent/share loss) on and on….
New post summarizes COIN’s bleak situation…and no I’m not profiting one dime from writing it, no position whatsoever, this is for the good of all mankind!
Get excited, my RSS feed is actually working, signup already, would ya!
Behold The Incredible Shrinking Stock: Converted Organics Inc (COIN)
As you probably know by now, me no likie COIN. Not only is it a pumped up penny stock–in the truest sense–they’ve got less revenue than my publishing company BullShip Press (seriously!), sketchy promoters/PR people galore and a whole host of other problems I don’t feel like digging through because I value my kneecaps, but now, as PennyStocking DVD student Jeff “The Man” Rogers pointed out, their stock is the perfect example of a multi-month head and shoulders breakdown chart pattern, the most reliably bearish pattern there is.
Now, the pumpers/amateurs who are drunk on the company’s rather refined PR machine-induced Kool-Aid, are adding shares here, desperately trying to hold support in the mid $7s–the only problems are a.) given their naivety they don’t have much capital b.) the absolute joke of an earnings release the other day makes Dennis Gartman look like the fool/classy pump and dumper that he is and c.) as THESE charts show, this turd of a company is in the grips of the flip side of the Supernova chart pattern (can ya guess what product you can buy to hear me explain them all!?!?!), kinda like death/the SEC itself.
Too many stocks in play, too much website work, too little sleep, lovin’ every second!
And get ready for LiveStock…
New Website And About 20 Stocks Making Amazing Returns
Whatcha guys think of the new site? Me and my indians have been up like 30 hours now–with a few naps here and there–getting it all working!
Lots of stocks in play, but sadly all of ‘em are energy/earnings and the few that are true pump and dumps are up, but not up enough…and lately even pump and dumps haven’t been getting dumped very easily…Anyway, here you go, in order of importance/likelihood of being a worthy trading opportunities…
MXC, PDO and FPP are still at the top of my list, got 200 MXC and 1,000 FPP reserved, they all just keep going higher, squeezing stubborn shorts (feelin’ pretty good about covering my MXC at $27.50 and FPP at $4.13ish yesterday!). PDO for all its bouncing offered a great afternoon fade yesterday, but still finished solidly higher on the day…remember, other than dangerous quick scalps, wait for red for multi-day shorts! FPP will die soon, enough said.
CWSI is an earnings play but when it’s up that much in 1 day, you just gotta consider shorting it
COIN just took out multi-month support (pumpers, you need to work harder! LOL, it feels good to rub it in, maybe there’s a little justice in the world after all) and PennyStocking DVD student Jeff Rogers, who appears to be next in line to the Tim Sykes throne, whatever the hell that means (Tony Ellis, what happened to you?) is short 2,000 shares at $8.25…I like that trade, but he shorted before it broke yesterday’s low, bad Jeff!
AVR, LNG and SYNM are all up around 50% over the past few days. Make no mistake about it, each company stinks at what they do, they’re horrific, incompetent, typical. But a rising tide lifts all boats…could/should be some decent 50 cent/share pullbacks soon, hopefully they can squeeze some early shorts and gimme some more downside
Daily roundup, let’s hear your war stories too…we’re all gonna learn I promise you that
basics articles will be here shortly, when i actually have some friggin spare time to write ‘em!
The Daily PennyStocking Roundups Begin Now!
Based on my book/DVD sales, email list and website subscribers, there’s now a few thousand of you out there who are playing these trashy low priced stocks based on my PennyStocking strategies, which obviously makes me Naismith-like proud. Don’t get me wrong, I didn’t invent making $ from buying and shorting these corrupt companies, I’m just gonna be the one to popularize it! Especially short selling these suckers!
Since there’s sooo many different players trading sooo many hot stocks now, I thought we’d have a daily roundup post like this that will benefit us all. Forget about just my trades/lessons and gains/losses, I want you guys to share your daily moves too! If we all share our thoughts/trades openly, everyone benefits and can better be able to adapt to the current environment/evolving patterns. 90% of traders lose $, so if we can reduce that number here to say 20-30%, we’re not only profiting, we’re doing something helpful/meaningful. (These kinds of posts are just the beginning)
So, this morning–no matter that I’ve repeatedly stated it’s wrong to short into a morning spike cuz they always go further than anyone expects–I broke my own rules and shorted, current Supernova-forming FPP. Even though it was a commodity play–which I hate–and an earnings play–which I also hate, emotion got the best of me as I shorted 1,500 shares at $3.92, expecting the wall of sellers at $4 to hold and for me to scalp my way to $300-ish profits rather quickly.
From the get go, FPP didn’t cooperate, holding steady near its highs, within 5 minutes taking out the 15k sellers at $4 and surging straight to $4.25….as this was happening, all its fellow oil and gas plays like PDO and MXC were making ridiculous runs, so FPP seemed the cheap way to get in on that momentum–aka the upside appeared bright.
My Latest AOL Finance Article, Some Seriously Good Advice
You Can check it out right HERE
This was written last night and I basically nailed all the top percentage gainers today….too bad AOL didn’t publish it until 1pm, but that’s what I get for submitting a 2am article on a Monday as it’s there busiest day…
Best/most useful quote form the article:
For now, let these kids play-some are even good to play form the long side, if you’re willing to take on that kind of risk (not me!). Call them in from recess-or short sell them-only when it begins to get dark outside
Quit Your Whining aka Don’t Worry, Be Happy
Ask just about anyone how our economy is doing and you’re likely to hear one or more of the following:
We’re in a recession! The stock market is crashing! Oil’s never gonna stop going up, we’ll always need more! Housing’s collapsing so people won’t be able to pay off their debts! Wall Street is laying off drones by the thousands!
Manipulation Monday: 12 Stocks That I Wish Were More Greatly Manipulated :(
Should I have stayed short KYUS over the weekend? I left because there might be trouble (weekend mailers?), but if I stayed it would be double (me a part of the potential short squeeze)…nah good decision to take profits…got my shares reserved to get back in today if it starts fadin’…lately spam stocks haven’t been collapsing like they should and I don’t have the capital to stick around…no I don’t, I’m just a no-class beat down fool and I will always be that way, I might as well enjoy my small gains and teach you readers to play!
UPDATE: Damn I know these shady companies right, fearful of a large drop in price, they had a fluffy PR pre-market this morning, seriously, this game is that corrupt
XRM and ENT have both spiked quickly, but both had solid earnings reports so don’t be so quick to short them as they’ll probly only fade, not collapse like those that spike due to hype and paid-for promotion…and in the meantime they’ll squeeze naïve short sellers who don’t know the difference…oh yes not all chart patterns are not created equally, welcome to why PennyStocking is different from all other market niches, it’s corruption baby, when there’s no corruption, there’s less reversibility
CPSL had a bigtime earnings spike, with volume of 20mil shares…last time this happened was last September when it spiked from $4 to $12…those with balls bough late Friday for probable Monday morning gap, let’s see how far this one goes, remember patterns evolve and other than one quick dip last spike, it stayed up in the clouds for over a month…
MMGW is an illiquid sucker that after some nice low volume/hard to take advantage of for big profits from the short side consolidation is right back to its old highs…can it breakout?
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TIMalert subscribers nailed MKTY short today, 15%+ gains!
Jul 22, 2008PennyStocking DVD giveaway contest!
TIMalert subscribers & me banked on the latest pick ZYXI, down 10% today!
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Jul 21, 2008The latest PennyStocking success story
I'm short ZYXI, but TIMalert subscribers reserved all the borrowable shares
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| 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: $22,457 (
81%)
