Archive for May, 2008
TIMradio #4: Michael Covel, Best-Selling Author Of Trend Following & The Complete TurtleTrader
There are finance writers and then there are finance writers. Sadly, most fall under the category “author only because it’s a great way to get exposure for fee-based businesses thus increasing income streams”. Yup, all you sugarcoating scumsuckers know EXACTLY who you are–enjoy your hedonist meaningless lives you soulless bastards–for too long you’ve helped nobody but yourselves, sullying the reputation of this once great industry!
Sorry I digress, some people just piss me off.
The good news is there are authors out there who write because they wish to share useful information, helping to teach you news ways of making money. I was fortunate enough to sit down and talk with one of the greats, the ever bustling best-selling author of two books that are required reading, Trend Following And The Complete TurtleTrader, Michael Covel. Forget buy and hold, these books are about those who have created fortunes from trend trading–and there’s quite a few of them…(remember Ed Seykota’s music video?) no wonder why he’s sold hundreds of thousands of copies. Click the interview button below and then go out and buy his books–you’ll be amazed at how well this strategy has fared, I know I was.
Listen to the Michael Covel Interview.
Sorry the quality isn’t perfect, but I’m still new at this so I can’t compete with podcast pioneer Disciplined Investor just yet
If you want to learn more about MC and the Turtle Traders , definitely check out his websites, MichaelCovel.com and his many cool Youtube videos. Stay tuned, he’s got a documentary film project in the works, guess who makes an appearance?
Barrons Is The Latest Old Media Company To Be Proven Obsolete
Remember about a month ago when I wrote those 2 posts (HERE and HERE) about the sketchy pig farmers over at Agfeed Industries (FEED)?
Their two financing deals, after a flurry of too-good-to-be-wholly-accurate press releases, set off my probable pump alert and even though I wasn’t playing the stock, I felt the need to warn investors about how the smallcap capital raising game works—basically you spend thousands on PR, giveaway a few percentage points to encourage scummy peddlers (better knowns as brokerage firms) do financings, schedule a bunch of PRs to paint the rosiest picture possible and then raise capital for your crappy biz at inflated prices, preying on investors’ greed as your stock is manipulated to surge higher, making these investors believe they are getting in on the ground floor of some amazing story.
Does Search Engine Optmization Work? Help Me Fight The Good Fight!
After viewing my PennyStocking DVD, an experienced internet marketer recently told me that he liked and profited from my strategy so much that he wanted to help me get the good word out there. Sure, I said. He then instructed me to write a blog post telling my readers to insert the following two pieces of code into their sites and whenever they post messages in forums.
Normally, I’d never ask such a thing from you guys but considering that I’m just a tiny guy going up against a decades old system that’s made too many sketchy characters exceedingly wealthy and amateurs poorer, I need all the help I can get. Here’s what you gotta post around the web…let’s see if this thing actually works:
For HTML Sites
<a href=”http://www.timothysykes.com/”>penny stocks</a>
For fourms if you recognize the format(only)
[url=http://www.timothysykes.com/]Penny Stocks[/url]
The Beginnings Of The Best Damn Stock Market Glossary…Ever
No matter how much I try to simplify penny stock trading and relate it to the real world, many of you still don’t even understand the basic terminology. So, for you guys, I’ve created TIMterms, a glossary of commonly used concepts and terms. Be warned, unlike the rest of the stuffy narrow-minded finance world, it ain’t boring and you’re damn right it’s opinionated. After all, it’s far better to have the opinion of somebody with a proven track record than the financial journalist wannabes over at Investopedia who often get their facts wrong!
Here are the first 15 TIMterms, eventually there’ll be hundreds, maybe even thousands of them, all inter-connected with plenty of examples Wikipedia-style, and links to alternate definitions and examples (anybody with a blog or website, def. comment on this post as I’ll link to anything worthy) but gimme some time, I’m not rich enough to clone myself to get all my projects done right away…yet. If I’ve done this correctly, you just need to click on the orange folder above each term to be taken to its definition:
1. ANALysts
2. Buying To Cover
3. Compound Annual Growth Rate (CAGR)
4. EBITDA
5. EPS
6. Max Pain
Sykes’ Saturday Sevenish: May 17th, 2008 Inside Edition
Trade with any of my sponsors and you’re pretty much set:
Active traders: Speedtrader!
Forex traders: GFT!
Futures traders: Optimus
Shorting penny stocks: Thinkorswim
Everyone’s going crazy over Bill O’Reilly’s finny breakdown video clip…they should be, it’s friggin hilarious!
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.
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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%)
