Previous Post
Next Post

Attention Bank of America Corporation (BAC) & Wells Fargo & Company (WFC) Customers: Hopefully This Ain’t You!

Posted by Timothy Sykes on Thu 17th of Jul, 2008 12:02:01 PM
  Tags:

Basically anyone with under $100,000 in cash in a bank is protected by the FDIC and considering the FDIC has never stiffed anyone–at least not yet, IndyMac alone took out 5-10% of its reserves–most people feel pretty safe. As you can see in the video below of IndyMac customers trying to get their $ out, there’s some definite anger just below the surface, but for now, this is what it’s like when a bank fails:

Now, I’m all for punishing the dumb money that’s caused this whole mess, but an outright financial collapse hurts my high probability pump and dump trading opportunities, so I’m not for it. Hopefully, this kind of semi-panic is as bad as it gets. No way in hell am I convinced it’s over just yet…

Spread This Post:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • MySpace
  • StumbleUpon
  • Technorati
  • TwitThis
  • Yahoo! Buzz

TIMstore Monthly DVD Specials:

See all TIM DVD specials HERE

Related Reading

Previous Post
Next Post
  • be-the-ball
    what a bunch of fucking morons! I live in Encino, should drive by and throw water balloons at all those idiots.

    Ever heard of online banking, transfer your money to another account.

    And who would be stupid enough to bank at an institution whose stock price is under $1, my money would have been long gone.
  • be-the-ball
    my money is long gone from WM, as a matter of fact.

    I bet if you asked those people why they hadn't taken their money out of IMB, they would tell you it is because it is insured by the govt. So then why are they in line for 2 days to withdraw it after the fact.

    Sometimes America makes me want to puke
  • Reaper
    Morons lost the money last Friday night when the FDIC took it over ... it was already too late, so they should not have wasted their time.
  • younggunz
    they couldn't move it with internet banking. the indymac site locked everyone out so they couldn't do anything with their accounts.
  • younggunz
    I have all my money in my credit union or what was a credit union. they just converted to a mutual savings bank but are still a private bank. My online savings is in HSBC. As far as I can tell HSBC isn't going to go bankrupt.
  • Hey Timmy great call on CHCG bought it on Monday, looking nice here, if it breaks 1.90 this could get interesting. As I'm sure you know this one has a long history of major long term moves...I think we may have found one here...
  • dude75
    be-the-ball,
    Get Real! Don't blame the people who are getting fucked over. Put the blame where it belongs.
  • TomT
    Woohoo on DSL.. Mike_13th on GOTS call it.. Got in @2.31 and got knocked out by the 3% trailing @ 3.05.. woohoo. 31% gain for a profit of $730 after comm..


    now its on the move again.
  • younggunz
    How old is this? Is it today?
  • getshorty
    Looks like gigm has some real business going on now, I think I can't short it as I did profitably so many times before. DAMN!

    How serious you think this is?

    GigaMedia partners with Electronic Arts and Tencent in China for NBA Street online Early this morning, GIGM announced that it has secured an exclusive license to offer in China the EA Sports title NBA Street Online, a new sports game from Electronic Arts (ERTS). In addition, GIGM and ERTS have entered into a strategic marketing partnership with Tencent Holdings, a provider of Internet, mobile and telecommunications value-added services in China.
  • be-the-ball
    Dude75,

    not blaming them, just calling them idiots for standing in line for 24 hours.
  • be-the-ball
    they aren't fucked over, the money is insured.

    that's why they are fucking idiots for standing in line. Oh and it is over 100degrees in Encino
  • getshorty
    GIGM anybody?
  • getshorty
    So this is a blog for discussing news now?

    Thought it was about trading.
  • Lukifer
    Hate to keep bringing it up Tim but for those of us who missed the IDAE sell on tuesday is it worth hanging on to?
  • ha this blog is about whatever i want it to be about...right now i dont see any ideal trading setups and considering all of us have $ at banks, this FDIC mess is applicable.

    IDAE, i'll only re-enter on a clean breakout of $3, even then it could be messy
  • getshorty
    Whats your take on GIGM, has it outgrown the microcrap niche?

    Not sure whether pump and dump rules will apply to it anymore.

    Maybe next blog will be about a cake recipe or something???

    hahaha

    Take it easy warrior
  • GIGM always has been a real company, it was just a one time short, i think its funny everyone else is watching it now
  • getshorty
    Damn, it looks like I screw it for not even checking the finance.google page before pulling the trigger, 17 p/e ratio would have warned me it was a real company with a glance.

    Have been making money with the charts and have developed so much disdain for fundamentals that I haven't been checking at all. I was explaining a friend the charts, volume, demand, wall of buyers, etc. of my yesterday money maker MNLU and when he asked about what business they were in, I realized I had no clue. Lesson learned.

    Now on the news
  • GetShorty: I think traders should ignore the fundamentals and listen to the charts only. The charts hold all the info you (as a trader) need to know; fundamentals are for investors.
  • John
    Tim stand your ground don't give in to people who want you to issue an alert every single day, I rather you send out 2, 3 or 4 good alerts per month rather than 10 or 20 duds a month just to appease some people who constantly need you to say something. If you're paying for Tim Alerts you should want quality picks not tons of losers with poor set ups. With that said be-the-ball I live in Los Angeles, not far from Encino we should do lunch and discuss the market, I need to learn a few things about it.
  • Jason
    Excellent point John!
  • Yes, John....great point!
  • yes john, no way in hell, i'm forcing trades, wait til u see the alert i'll email out in a bit
  • TommyTim
    Some rich russian that paid 95 million for Trumps place is going to tear it down.

    Trump was on CNBC just now. The guy is a friggen moron. Shows you money and IQ are two seperate entities. The retard said a very smart man told me 3 years ago that if oil goes over $50 it causes recession and depression. LOL There is OIL all over the place it should come down under $50. TRUMP- keep your mouth shut you moron and go build me a condo. Stick to what you know best, azzhole.

    Back to business at hand. This is a dead cat rally in a bear market. Wait for bank earnings to come out to see the damage that's in store for the financials. The oil drop, sec naked short selling rules, and wells fargo are all temporary saviors. WM is going to report 26 billion in losses for 08. You ain't seen nothing yet. Gonna take 1.2 trillion of money by the feds to save all the banks going under. Government will have to raise taxes. This will also crush the dollar.
  • CHCG quickly approaching $2!
  • This is just ridiculous. It just goes to show how illiterate much of this country is. The media only makes it worse by showcasing this kind of thing and creating more panic. Panic breeds panic. I'm reminded of the famous scene in It's A Wonderful Life when george has to explain to the laypeople how a bank and lending works. In other news, I like my $400+ gain in WFC so far.
  • dude75
    be-the-ball if you ever see this,

    "Oh and it is over 100degrees in Encino"

    I don't know why I didn't see the humor in this earlier, but now I'm laughing my ass off! The poor suckers. You'd never catch me in that line...
  • noobtrader.08
    TomT... DSL was on fire today!!! Speculation is that it has another up day... then... who knows...

    It was up 61% yesterday; 75% today; 100% tomorrow?

    I don't have fucking clue... but somebody does...
  • OH MY GOD, INDYMAC IS BANKRUPT?? I HAD ALL OF MY MONEY IN THERE ! NOOOOO My savingsssssss, nah just kidding I have no savings. Hey, has anyone heard from Lionmaster?? What happened to his long position in IMB? holy crap didn't he leverage a second mortgage on his house to trade IMB's perceived bottom?
blog comments powered by Disqus




Start Here

Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

TIM Trades

View All
Date Stock Buy Sell Net
Nov 19 AENY $2.80 $3.02 $1148
Nov 18 NLST $4.16 $4.40 $947
Nov 18 IMGG $1.42 $1.64 $2094
Nov 17 NLST $5.04 $5.59 $2195
Nov 13 VRMLQ $21.50 $22.97 $2901
Nov 11 EONC $2.61 $2.80 $687
Nov 10 EONC $2.74 $3.36 $9784
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $98,094 (681%)