How I Turned A Bad Trade Into A Good One On HSN, Inc. (HSNI) As Stubborn TIMalert Subscribers Screwed Themselves
Posted by Timothy Sykes on Wed 29th of Oct, 2008 03:52:20 PM
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As TIMalert subscribers know, lots of trades on HSNI yesterday, I managed to make $200+ by cutting my losses quickly and then re-entering, as I encourage everyone to do…best explained by the alerts themselves:
Shorted HSNI at $6
just as i said i might in my pre-market watchlist…this one is easy to borrow, it’s a real company, but it’s a really bad company, retail selling is gonna get crushed this holiday season, stock has gotten crushed, but its up 50% off its lows, mostly due to a short squeeze–6 million shares have been shorted in the last month–methinks it goes lower, just went red on the day (i gladly ignore the morning drop, its too quick aka useless for an alert newsletter), albeit just barely, support at $5.80, after that $5.40 and then $5…i’ll look to cover just above $5 in the next 1-2 days…i’ll get scared of this short on any strength into the market close today/big market turnaround.
Covered at $6.20, safe
stock was/is acting perfectly as a nice fader, then the whole market jumps 3%, as i said in my original alert, i would get rid of my short if there was a big market bounce, not gonna risk some ridiculous overnight gap up…gotta know your risk/reward…stock still coning down to $6.10, pathetic it cant even stay green on the day, bodes well for longer term shorts, but with my limited capital, i can’t risk it…glad some of you guys took profits quick/early, i tried to cover at $5.80 right before the jump, but missed my execution, paid the price…$300 loss still totally acceptable since potential reward was $1000+
reshorted at $7.30
…1500 shares, easy when you cut your losses quickly, much better entry, i’ll love to cover under $7 and actually make $ on this whole deal, ideally before the market close!
covered at 6.92 and 6.90
…for a gain that wipes out the $320 earlier loss and puts me up $200+ on the day, back to $30,945, 150% return in the last 12 months…HSNI still dropping, but market surging bigtime, overnight gap higher possible…these trades are perfect example of why u need to be quick if you’re gonna play these stocks…don’t trade if you only have 1 trade to make today–always have an exit strategy, don’t play them if you’re at your computer for 30 minutes/day–wait for ideal plays (like the Supernovas I detail in PennyStocking) to hold over days/weeks…gotta think before you trade, I try to find good plays with good risk/reward, but if you don’t understand the strategy or don’t have the proper setup, you’re setting yourself for a big fall.
this does get easier, but only after you’ve been doing it for a while, until then, cut losses immediately/quickly and you’ll have little to nothing to regret while you learn
Overall, a decent initial trade, superb loss cutting and even better recognition the spike was too quick so as to turn the whole thing into a gain.
Even a testimonial from a TIMalert subscriber who actually wants to learn the strategy instead of being spoon fed picks (so he’s coming to my Vegas seminar):
took first position at 6.07 because of your morning alert, took second position on timalert at 6. Covered at 5.75 to soon but still grossed 560. Thx c u in Vegas
-NJBM
Many TIMalert subscribers were stubborn and refused to take their losses—discarding my most important rule about taking quick losses, pretending they were the ones who’d been trading for a decade so they must know better…with the stock soaring pretty quickly when the market surged—just as I warned in my original short alert—and today hovering just under $8, those people are swearing off trading and Penny Stocks.
Idiots gotta learn to play by the rules cuz their lack of discipline makes me and Penny Stocks look bad when its really the idiots fault, not ours.
Idiots didn’t understand why I get out so early soooo often when it seemed like all my plays just kept on fading. Now they understand that some don’t keep fading and my itchy trigger finger is the result of years of being a stubborn idiot just like them.
With a decade, I try to help people avoid the hardfought lessons I’ve learned the hard way, but I guess they’re gonna have to learn themselves. Sad, but necessary.
Hey idiots, just think, a decade from now and you’ll be as conservative/impatient as me, until then, I’m gonna call you what you are, friggin trading idiots!
PS Stay tuned for tomorrow’s TIMalerts roundup where I explain how I made 25% on EVC, or $1400+, even while these idiots were still stuck in HSNI or missed EVC completely because they didn’t understand what a morning panic looks like aka they haven’t seen my new PennyStocking Part Deux DVD which focuses on intraday patterns EXACTLY like this.
TIMstore Monthly DVD Specials:
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TIM Trades
View All| 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%)
