When To Short High Flying Stocks?
Posted by Timothy Sykes on Fri 26th of Sep, 2008 04:09:38 PM
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This is an important question that needs answering. See the comment below as a successful PennyStocking student answers for me:
Thanks for the call Tim on SIL. I questioned you at first on why in the hell you got in at 4.06 when it looked like the damn thing could spike to the moon, but it worked out just fine for you. I got in late due to my discipline and learning from your penny stocking video. In the video you mention to go short after it goes red on the day in the afternoon and that I did. Shorted SIL at 3.45 held for 59 mins and covered at 3.17 for a nice $540 profit. You the man!
-Cash
Yes, it really is that simple, wait for red on the day and your odds go up exponentially. Although of course, I’ve found this to only work best with Penny Stocks as “real stocks” have tons of “real traders” in them so every giant move is already anticipated five times over….down here in the gutter, your odds are simply higher…that is if you stick to the rules.
In fact, the main problem most people have down here is knowing when to take profits! Sounds arrogant, but it’s true. Cash covered for $500 in an hour and felt damn good, as did I, with my $700 quick profit. But as we both learned when SIL crashed down to $2.50 just one day later, the first red day on a momentum penny stock like SIL is just the beginning of the descent.
Gotta remember, ideal Penny Stocks are up 200, 300 and even 400% within a few days. There’s plenty of downside, especially since most of these runs are just BS hype.
My god, this game is so friggin easy, I’m gonna work my ass off until I make it more popular than Guitar Hero/ or Grand Theft Auto. No reason kids shouldn’t be learning this stuff instead of wasting time.
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View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| July 2 | KIRK | $10.60 | $11.53 | $1377 |
| June 30 | ISRL | $107.97 | $118 | $985 |
| June 24 | LZB | $4.53 | $4.81 | $1240 |
| June 17 | GWSC | $1.86 | $2.76 | $2679 |
| June 15 | SHZ | $1.66 | $1.83 | $280 |
| June 15 | SPNG | $0.11 | $0.18 | $630 |
| June 12 | JAZZ | $2.84 | $3.26 | $380 |
| June 12 | MAPP | $9.68 | $10.07 | $565 |
| June 8 | HEB | $3.00 | $4.18 | $334 |
| June 3 | GROW | $8.64 | $8.96 | $740 |
| June 3 | SYMX | $1.21 | $1.11 | $940 |
| June 1 | USCN | $0.55 | $0.86 | $260 |
Total: $65,674 (421%)
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Cough) self fufilling prophecy (/cough
Hey,
Is it possible to short with TDAmeritrade?
Vick yes you will need to have a margin account open and that will take 2500 bucks and then you should be able to short at TDA.
My latest post addresses entry points on SIL (posted before this article came out by sheer coincidence)
Hey tim and everyone. This is an honest question im in college have saved up $2500 and am trying to buy a foreclosure. I have followed the strategy and will buy tim alerts. Is 2500 enough to make some decent money without being “all in”? or is that not enough? I setup a demo account 6 onths ago and am up %300 but you knoqw how those are not so much realistic. I think if I hit $2000 i would stop trading so I dont risk the hard saved college money in the south goo dawgs…Please only serious answers.
sorry meant after
bdog,
since I came back to correct my post I’ll give you my 2 cents and then Tim can give his answer. There is nothing wrong with trading with a small account, however the smaller your account the infinitely better trader you have to be, which is almost impossible. You have to make bigger moves in a stock just to make any money and get over your commish fees. Tim has attempted to solve this problem by finding hugely run up stocks that are likely to breakdown and can be held overnight. But you can only trade one or two at most with $2500 in order to make money. Otherwise you will get very frustrated.
bdog jv is correct. you can make money but it would be one play at a time and almost all in all the time.
Who thinks fnm and fre stock will go up, eventually!
Sounds like a blog subject to me Tim.
Tim, I must say that you are really, really damn good at what you do. I came across your site randomly a few months ago and have been following your site every day since. At first I was skeptical (like you always say, this industry is so full of jokers and idiots it’s hard not to be skeptical at first!) but the whole concept of transparency is (sadly) something unique in this industry and something that can’t be disputed. I’m now a TimAlerts subscriber and will soon be buying your DVD with the profits I’ve made. Keep up the good work and honesty. It’s what this industry needs more of.
How can you recognize a penny stock aka fraud company?
why is the livestock playing music videos, was it not recorded?
I started with a $2000 account. I admit it is tough and a little risky. I took profits quick at first to give myself a little wiggle room to keep my margin. My biggest losses were from trades I did on my own and were learning experiences for me. I had some pretty nice wins with TimAlerts that I let ride for nice gains though. This last one I went in in SIL 200 shares at 3.30 and covered a day later for a 130 profit. Pretty nice if you average one of those per week. That’s not my goal but its something that can easily happen. I think I banked pretty good on USS and APII timalerts as well. There are some that I’ve broke even or made a dismal amount to cover commissions. I am getting ready to actually put more money into my trading fund to help lower that issue. I think the largest position I’ve bought was like 600 shares at 3 or 4 dollars a share. pretty risky stuff though
Also Think or Swim recommends atleast 3,500 to start off with even though their minimum is $2000. I put in the minimum to just get my feet wet and see how well I can do watching Tim trade. So far he’s picked better plays that I have but I am getting better. Not only from him but other subscribers that are active in the member’s chat.
bdog im in college as well and i started with $3000 in my TOS acct only a few months back and the extra few hundred a week is a lot since its like me gettin 2 paychecks a week now!!
is the on demand broke?
Even if oil keeps climbing, clean-energy stocks have to eventually play by the same rules as the rest of the stock market.
John
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new post:
http://timothysykes.com/2008/0.....right-now/