LIVESTOCK for Friday, July 25th

Posted by timothysykes on Fri 25th of Jul, 2008 05:44:58 PM

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Mike_13th

Mike_13th

July 25th, 2008 at 11:45 am

"WRSP put a fork in it now at $2,grabbed a buck already from yesterday"
xxxxxxxxxxxxxxxxxxxxxxxxxxx

Took profits on cover at 1.73 right near eod.
No sweat trade from 2.95 ( when it dropped from over $3 even mark )for 41% profit.

Yaktipper,

I didn't KNOW INSM would drop that far from the flip ( from long to short ) I said at .89
But 10 cent increments are a pretty big deal with these under a bucks and since I was long INSM from .74,had on watch cause of the run it's had and white candle piercing ubb at 98.12,
I felt the risk reward was great to short .89 and turned out I nailed it huge both ways.

$870 long INSM $540 short
$1600 WRSP short
ECPT $1030 on as I said on earlier post a double full position from .93 to .81 close.

Still short INSM EPCT and BLUS which I've posted about here from 1.88 to now 1.54 (double full position )

TIM Sykes

go mikie go

getshorty

I can only say "wow"

getshorty

that consistent profitable trading is achievable.

You are into trading full-time right?

I am considering moving to full-time trading if I can make that kind of consistent profits, will finish grad school on December. If by that time I have became good enough I'll rather trade than look for a job, then later will like to get into fund management.

Good to have you around, Tim must be feeling Jealous by this time !!! (just kidding Tim, don't bring you WSW on me, I know I know... how can a guy with a 100% success rate for his calls can be jealous of any body......just make sure you don't get all cocky again, like in your early winning days)

getshorty

Previous post got cut in the beginning, it was supposed to say:

Mike, you are another live proof that consistent profitable trading is achievable.

You are into trading full-time right?

I am considering moving to full-time trading if I can make that kind of consistent profits, will finish grad school on December. If by that time I have became good enough I

yaktipper

Mike, thanks for the reply. What does ubb mean? You said white candle piercing ubb?

Again today I failed to read TIMAlerts properly otherwise that breakout on ZYXI would have been right there in front of me. Not sure what my problem is. Another $200 - 400 missed.

Will

IMO, if people post about there winning trades why not post about your loosing trades. I know everybody's not 100% on here. Loosing trades teach just as much, if not more than a winning trade.

Will

Don't get me wrong, I know Tim post's about his loosing trades but only every once in a while you'll get someone else posting about them.

Mike_13th

GetShorty,
Yes for only 6 months now fulltime,but I honestly believe with enough hard work and common sense it can be done by anyone with the right concepts of how these mostly smallcaps work.

Yak,
UBB = upper bollinger bands
Bollingerbands and RSI2 are the only indicators I use in scoping out potentials watches for the next day except for of course ,price and volume.

A white candle being pierced by the ubb with rsi2 above 90 is a sign of strength and many will run hard off it.
The neat thing is if they can't hold that strength and fall 4-5%+ off their hods at that point they can make great short watches.
For me this is a win/win situation.

Mike_13th

Will,
I have a bunch of losing trades BUT I keep a tight stop at 3% AND I OBEY IT.
Doesn't make for real exciting commentary.
Keep your losses small and let(and as I do )let your winners run,and in some cases add more on the way up or down as the case may be.

Reaper

Mike 13th - don't you trade with IB? I didn't see any WRSP available to short with them. Otherwise I would probably have shorted Wednesday or yesterday.

Will

Yea exactly, I agree. Sad thing is that some people on here see all these winning trades and think they can do the same. I still just think it teaches a lot describing loosing trades as it does the winners. But then again it is entertainment that's profitable and fun.

YMC

Here's a link to a great interview with Jonathon "Douchebag" Lebed.

http://tinyurl.com/59sq6x

LMAO

Mike_13th

Reaper,
Yes I'm with IB and they do not have any s/s available as of now but on Wednesday they did and did up until about 11 a.m. today.
That's why I check every few minutes on stocks I'm interested in,they can change fast.

But Will,
I'm as live as it gets on my chat to the second,PLUS chat logs are put up nightly for anyones review and I try to put up my positions as I do them.I'm hoping maybe some can learn as I did.
When I have a losing trade on there there's no faking it,you see it LIVE.
Same goes for the winning trades,they are there.

Mike_13th

The interviewer wants to take DB Lebed's head off,haha
Thanks for the link!

Will

Mike, I'm not singling you out. I know you do a damn good job. I've gone in the chat room a few times and saw your picks.
Also, I know you use the Scottrade HOD list. I have Scottrade and Tradestation(which usually has all the shorts), with your strategy wouldn't it be easier to to use Tradestation so you could write a little program to alert you for all the stocks you look at or is the Scottrade list better for the possibility of new stocks to watch out for.

YngvaiMalmsteve

Hey, Will, I have a blog where I talk openly and honestly about both my winning and losing trades. And, when I have losing trades, I outline the mistakes I felt I made and the lessons I learned from them.

welcometothegutter.blogspot.com

I would agree with you that sometimes there's much more to learn from losing trades than winners.

I'm also a member of covestor so that all my trades can be verified.

I took a position in GFRE today. Not a Timmay-type play, but I had solid technical reasons for entering and it has a chance for a strong short-term run. I'll outline my reasons for entering when I get around to writing a blog post.

Two other long breakout setups that I've got my eye on for next week:

BIHC
EFFC

YngvaiMalmsteve

By the way, who won the contest?

YngvaiMalmsteve

Haha, that interview is awesome

Mike_13th

Will,
No please,I never took offense,I didn't think you were singling me out,it's just I think others think this can't be done by an "average Joe" like me,and I am positive it can.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

"wouldn

Reaper

Mike 13th - thanks. I'll add that to my list of things I really messed up this week. I swear WRSP was not borrowable at IB yesterday or Wednesday; I guess I was hallucinating. BTW, I suggest that you take a look at Genesis Securities as another broker; they have a pretty awesome borrow list and a nice trading platform (including a customizable HOD/LOD list): http://www.gndt.com/index.htm (FYI, this is not a broker for all you pikers out there who can't afford a $200/month software fee).

Someone wanted errors? My errors cost me $5k to $10k in easy money this week.

Here they are:

1. Not pennystocking, but I've been shorting a few banks that I think will end up going boom. DSL reported horrid earnings yesterday, just as I predicted, and yet I covered my short when it was down 6% on the day, before it tanked another 30% yesterday.

2. Missing the morning panic to cover ZYXI into, and then covering at the high of the day.

3. Going small on MKTY despite a good setup. Then, I covered too quickly rather than giving it time to run.

4. Somehow missing WRSP. I swear I saw it yesterday or Wednesday, but now I am not so sure. Even a bad play at that would have netted me easy cash, plus it was liquid.

5. Covering too soon on TRMP this morning. I don't regret going small--it was not ideal--but I should have given it a little bit more time to run.

Reaper

Mike - I'm assuming you use the color coding of shortable status in TWS? That is my favorite thing about IB.

johnnyvento

why would anyone want to pay $200/month for a software fee?

johnnyvento

haha DB Lebed that was the best

his squinty eyes pierced through my soul, he reminds me of what Rosemary's baby would look like grown up

pumacom

13th... how do you get the HOD list on scottrade? Is there a way to get it on your streamer?

luci

Does anyone have the link to MIke_13's blog?

THANKS

Evan B

http://greenonthescreen.blogspot.com/

TIM Sykes

new post, its fucken great:

http://www.timothysykes.com/admin/2008/07/26/so...

yaktipper

Will, here's one for you. I bought LBAS because whether Tim likes it or not, all his TIMAlert predictions have come true lately, and he thought LBAS would slowly creep up for a while.

I waited one day and couldn't stand how illiquid LBAS was and bailed at a tiny loss, thinking I wouldn't even be able to get out because nobody was buying. The feeling of being trapped in a stock is awful. It then has creeped slowly up every day and I would be up 7% if I had held.

Not much of a failure story but you asked for it!

Mike_13th

Reaper,
thanks I'll check out Genesis.
I do use the color coding of shortable status in TWS.
But I've found it not always accurate at the moment as I saw the code color said borrows of DSL were available but when I tried they were not.

Pumacom,
The HOD list is called Market Movers.
Here's a screenshot of it and explaination.
Click on the pics to enlarge.
http://greenonthescreen.blogspot.com/2008/06/ma...

pumacom

Thanks Mike, I appreciate it

YngvaiMalmsteve

Rosemary's baby? hahaha johnnyvento!

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Date	Stock	Buy	Sell	Net
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: $92,304 (644%)