Nice Bounce, Now Let’s Start Thinking About Short Selling Again!
Posted by Timothy Sykes on Tue 14th of Oct, 2008 11:49:15 AM
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This was sent to TIMalert subscribers this morning:
Got the big bounce yesterday like the morning futures said we were gonna, but the real $ made—other than those will all day long patience (not I…especially in this market)–was in the afternoon ramp up. This kind of an afternoon ramp are the intraday chart pattern detailed in my brand new PennyStocking Part Deux DVD (even though this is an entire market ramp where the DVD focuses on how to play individual stocks)
Now with ISRG over $210 and an ANALyst upgrading them yesterday—somehow they missed the previous few days, probly too busy doing coke—even my $187 initial entry is looking good, forget about my buy at $161. Welcome to the world of dip buying, you can either take quick high percentage gains like we did or hold out for something more, your choice.
Here are some stocks up big yesterday that are looking mighty fine to short soon…looks like we’ll have another big up day today and I’m traveling so it’s gonna be tough for me to trade—yes, aside from my daily morning watchlist, life interferes sometimes and I won’t always be there to alert you to awesome setup, aka invest in some of my instructional trading DVDs so you can learn to do this stuff yourself, probly even better than me!
Do I really care about “missing the bottom”? No of course not, people who say that don’t understand what PennyStocking is all about—I’m not trying to predict major market moves, I just take it one pump at a time and a major bounce is good because it creates opportunities to short into/keeps pumpers and spammers in business so they can do their thing and I can profit from it by trading the incredibly easy patterns they help create!
Here are some potential upcoming shorts:
MHY $3.5 to $6, all in the last hour of the trading day yesterday
APWR $5 to $7, on every single short sellers’ watchlist, could be in for some serious squeezing, pray with me brothers and sisters!
PFD $2 to $5 in one day…so far
GNW is a financial up $4 to $6…so far
MS owes a big congrats to al the people who bought in/helped support it in the single digits lows…not my kind of pattern, but nonetheless a big % win for some TIMalert subscribers
RRI is an energy play up $4 to $6, plenty of more room to run
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TIM Trades
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%)
BWEN Up over 100% since friday on no news, 60% today potential short…
Tim in general with these bounce plays which cause huge gaps in their charts, how often would you say they fill the gap? For instance this one BWEN that somebody posted bottom at 4.35, ran up to 7 the following day, and then gapped from 7 to 14.35. It then made a high a 14.40 and then dropped to 11.30. Would you look to short and cover inside of the gap ?
BWEN was hit bad because its biggest shareholder was forced to sell a bunch and is a Cramer pump from Monday night.
yeah i don’t care about the stock I am just wondering how Tim looks to short these types of plays. I realize it may be a real company but it did run up from 4.75 so a stock like this definitely has a ton of hype involved.
Jumper and anyone else, I ran a scan for the last 3 days from stockfetcher, why didn’t BWEN come up on my scan?
Also how can you catch potential highs in the middle of the day?
new post:
http://timothysykes.com/2008/1.....y-are-sht/
How come you use Etrade Pro and don’t use the trading charts and tools at TOS. Are Etrade’s better?
I’ve been watching bwen for a couple months now, but last few days it was on popular stocks on google finance, i always check that, don’t know why it didn’t show up on your scanner…weird maybe because its an otc stock
nastycanasta,
Etrade has some nice features, but there trading sucks. I have had market orders sit for 7 min. I tried to get a broker after hours and hung up after an hour. If you use a broker to get out they will charge you several hundred dollars. Etrade sucks major!
BWEN an easy catch if you had the guts to short it and find borrows,all you had to do is look at the premarket leaders to see it was up 103%.
from chat:
(Oct 14-09:29) Muddy: watching BWEN,late hit pre
(Oct 14-09:30) Muddy: BWEN 103%
(Oct 14-09:44) Muddy: BWEN sinking fast
(Oct 14-09:46) Muddy: was too easy BWEN
muddy, BWEN morning panic same drop a a million stocks, oo fast for most, tough borrow, not ideal…APWR afternoon fade much easier
Link to this article from my Securities Lending related blog http://securitieslending.typep.....cales.html
Tim,
Yes APWR agree,very nice,I tried but no borrows for me on IB.
My point was just that if one watches Pre leaders, you can find some up huge that if you’ve been around,you just KNOW they can’t hold.
If hampered by the pdt rule,you gotta be careful with that sucking rule,if not…well
RRI PNX just like they should have…easy pickings there.