Responding To This Reader’s Comment
Posted by Timothy Sykes on Sun 22nd of Feb, 2009 08:45:35 AM
Tags:
Interesting comment I got the other day:
Tim, I have been trading for ~3o years and one comment I would like to make is that shorting stocks over the past month is not a good idea, the market wants to go down but most traders are looking for any excuse to go long, Thats the way they have always traded (most have only traded through the recent bull market) so shorting is alien to them. Currently the Government interference (TARP) particularly the bank bailout is keeping the market artificially up. The market is not going to go down with any conviction until that has been sorted, a good example is the unemployment numbers released on Friday, the market overlook those terrible numbers because it is focused on the bank bailout. Nobody wants to be caught short and no one wants to miss out on a run up if Obama signals a positive outcome (that’s expected). Give it a month or so and the market will tank, that’s your moment and that’s when you and your subscribers will make $.
The people who buy Tims products need guidance, they have more chance of receiving good advice from Tim than a broker or adviser who only wants to churn their money until they have none left, then they move onto the next “client”.
Tim I suggest you turn off the comments, they probably do you more harm than they are worth. and honestly you don’t need them anyway.
The guy makes a good point–shorting has gotten tougher lately and you’ll see that I’ve recognized this, as I trade by the patterns, and more of my recent trades have been buys….which I suck at! (When I buy, in order to not screw it up somehow, I need big ass breakouts, IPIX, ISCO-style, none of this up $1, consolidate, up 50 cents, run into resistance shit (typical bear market surges)…nobody wants a clear bull or bear market more than me.
And yes, while I do think my “guidance” is better than the vast majority of brokers and/or advisors, there’s plenty of good people out there, just ask to see their entire track record and client testimonials :)
But no I won’t turn off the comments, people ned to see what idiots there are out there and why competing against such idiots is such a better idea than competing against well equipped and knowledgeable traders who trade bigger, “more respectable” financial instruments like largecaps and forex (LOL).
Plus the commenters are entertaining and god knows finance can be boring as hell: corruption, manipulation, hype, suckers lose, the meticulous/cynical win, yada yada yada.
TIMstore Monthly DVD Specials:
See all TIM DVD specials HERE
Related Reading
-
tbohen
-
The Dean
-
bassman52
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%)
