Finally Over The $25k Hump, Osama bin SEC Go F&^% Yourselves!
Posted by timothysykes on Mon 18th of Aug, 2008 04:20:51 PM
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Finally! Last November, when I went back to my original $12,000 roots (see post HERE), many people thought/called me crazy…I wasn’t crazy, just determined to show everyone how it’s possible to make plenty of mistakes and yet–if you remained disciplined…or somewhat disciplined–still use small account size as an advantage to profit from all the manipulation and hype in this the gutter of the stock market.
Took me about 9.5 months to accomplish this rather unremarkable yet surprisingly difficult feat (last time I was this poor, there were no regulations preventing me from trading too much, which was a gift and a curse)–see all the trades upon trades upon trades it took me to get there by clicking HERE–and understand that in a free financial world, there’d be no regulatory difference between $2k, $20k, $25k or 250k, but in the real world, one that is subject to terrorism perpetrated by Osama bin SEC, this $25k mark means I can now do more than 3 day trades/week.
Yes, that’s right, after 9+ months of having to tiptoe in and out of worthy opportnities, always in fear of breaking the absurd pattern day trader rule, I am finally free to trade as I wish, scaling in and out of positions, depending on whether the price action is or is not to my liking.
This is a huge victory for TIM, a giant leap for TIMkind.
Of course, while I may have won the battle, no way have I won the war as with today’s loss on FOUR (detailed post coming tomorrow), I’m barely clinging to my freedom, with my account at $25,376 (up 8% on the month 104% in 9 months, down $350ish from my highs…boo hoo Jew), meaning I have to be extra-careful here, especially with my upcoming trip to Japan (Aug. 20-Sept 1, detailed post and itinerary coming tomorrow)
Also understand that I now send email alerts to TIMalert subscribers as to every trade I make, entries, exists, rationals–so I’m not gonna be trading/alerting like a madman, I’ll still focus on worthy trading opportunities which come about only every few days/weeks, I’ll just be going in and out of them intraday more often.
As much as I’ve showed people how I make money over the 1-2 day timeframe, now begins me teaching about trading for 1-2 hours.
Get ready, without Osama bin SEC prohibiting my trading, my profitability percentage should go even higher.
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 11 | IIJI | $2,79 | $2.95 | $442 |
| Nov 6 | CVI | $4.42 | $4.70 | $530 |
| Nov 5 | MECA | $3.68 | $3.95 | $490 |
| Nov 4 | CVI | $5.18 | $4.94 | $472 |
| Nov 4 | CVI | $4.83 | $5.01 | $333 |
| Nov 3 | NAK | $3.30 | $3.37 | $157 |
| Oct 31 | IDAE | $2.18 | $2.18 | $20 |
| Oct 30 | HSNI | $7.37 | $7.86 | $561 |
| Oct 29 | EVC | $1.97 | $2.70 | $1439 |
| Oct 28 | HSNI | $6.92 | $7.30 | $540 |
| Oct 28 | HSNI | $6.20 | $6.00 | $320 |
Total: $34,399 (177%)
Nice work, Tim. I’ve got a ways to go before I reach that milestone.
Today started the day long ZYXI, closed position at 5.88, saw it went down to 5.40 and bounce, then shorted at 5.86. shorted some more when it broke under 5.40. Holding 500 shares short overnight for being fisrt down day.
Once it looked that RDN was going red for the day, i shorted at 4.25 then bounced in my face. Two mistakes. Expecting a financial to behave as a supernova and short in the morning, prime for fakeouts. COvered at 4.70 and went long from there hoping for a runup over 5, didn
Congrats. Atleast now you could hypothetically have 5 alerts a week instead of only 3 when they happened to all be daytrades.
Getshorty, I’m short IDMI as well. There were a few fake fades today but it traded sideways for most of the day today. Volume was weak and it finished red on the day.
Congrats, man. I’m sure very few of the haters have doubled their accounts in the last 9 months.
Awesome job. Tim, I’m listening to your interview with Jason Katzenbeck right now.
Great interview. If anyone else wants to hear it, it’s on http://www.johncow.com
Looks good Yngvai, may join you tomorrow if there is some strong confirmation (this time in the afternoon, won’t make same mistake of shorting a morning fake down again)
Tim, what do think about FMD? It’s up 70%+ on the day.
Forget about shorting FMD, it is up on real strong news and has closed at the high of the day, may gap up tomorrow
NEW YORK (Reuters) - First Marblehead Corp (FMD.N: Quote, Profile, Research, Stock Buzz) shares soared by more than half on Monday as a Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) fund completed an equity investment in the student finance company, which has been hit hard by student loan losses and a frozen asset-backed securities market.
Holding 500 ZYXI overnight (shorted at 5.70). I have 500 more reserved to short in the morning. We’ll see what happens.
Same here Mark, 500 shares short and also 500 shares reserved.
Action will have to be very strong for me to short those extra shares.
Don’t like 61 000 shares bought after hours 5 cents over the closing price, but so far, after hours hasn’t meant a thing the times that I have checked.
Any take on how to interpret this kind of volume in after hours?
anyone thinking about shorting rdn here in the next few days? it has almost double in the past week
I just got hurt by RDN, if you go for it be careful is not a fake-down like today. And even more weird, it went up while financials in general went down, no wonder tim doesn’t like to play financials.
Congrats!
I probably will short either RDN, ABK, or MBI if the market breaks support tomorrow. I’d consider breaking support to be a close on the DOW bellow 11,450 last week’s low. If we bounce I wouldn’t short. Tim’s gonna love this post…lol
can’t wait for more frequent tim trading! Lets make some cash!
It’s a celebration! Ah, there’s no stopping him now. Once most of the students cross that step, there will be nothing to stop us from conquering the exchanges. Soon they will have no choice to kneel to the short sellers. Tim leave some for us to short.
See a financial green, go ahead, short it, just one time.
Die fre
Die fnm
More trading=overtrading=mistakes
Careful what you wish for neil
puma, I have learned that lesson well! I just really don’t like holding stocks overnight so I am more likely to follow more of Tims trades.
http://www.investorslive.com/blog scan for the morning, some good spikers and breakout plays as of late..
IDMI low volume this isn’t as attractive as last time, this is a more gradual play might have more upside..
Hey Tim, I really enjoyed listening to the audio interview while I was Internet Marketing at the same time. It is very inspiring for me.
Anyone interested in a direct link to the interview, just click here —–> CLICK ME
Oh yeah, also, I’m still looking for my very first sale over at Internet Submitter
Check out some of the BLOGS over there as well, thanks.
Never will understand the SEC rule and why I was able to trade with no limits in the futures market. You would think it was more at risk with the leverage that is used.
In Regards to FOUR– I bought in Pre market yesterday- 2.15- once the market opened sold at 2.70-(alerted in 13ths chat)—which was expected… now to buy that pos afterwards….ouch—- why? can’t wait to read your post.
Nice one Tim! Just picked up your DVD.
bsti, you think this pumper will run today, it’s getting spammed a ton and i read an article that some marketing agency was paid 300k for 2 weeks of promotion
You guys should have read the citron report on FOUR and realized it was not a good candidate for predictable behavior. The stock had too many manipulation forces at work to make a good trade. Factor in the citron report itself and it was a tough stock to be in.
How much of that 25k will Uncle Sam get?
Keep your stops tight :)