How I Nailed NetSol Technologies Inc. (NTWK) & Kirkland’s, Inc. (KIRK) On Two Overnight Shorts
Posted by Timothy Sykes on Thu 23rd of Apr, 2009 12:00:59 PM
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Normally, I’m not anywhere close to perfect, but in small NYC-apartment a few days ago, I defined perfection., earning just over $1,000 in profits from these 2 trades…Check out what I sent to TIMalert subscribers:
Shorted 4000 NTWK at 62 cents, horrific entry…this is the latest StockPreacher.com pump, last one was CLZR, this is risky here since i didnt wait long enough, thinking a 300,000 share sell at 63 cents would hold, i underestimated thestockpreacher power, guess i should bought like Reaper and investorslive first, but this company is absolute crap, a pure pump and dump, u will benefit by recieving this email when the stock is at 70 cents
…and later in the day:
Shorted 2000 KIRK at $6.46ish…first down day after a massive runup, nice morning panic down to $5.60 and rebound…now its put in some solid sideways price action all day in the mid-$6s, just broke intraday support at $6.50, small position because this stock is dangerous for short sellers…this could be the beginning of the end, but not sure…good news it is easy to borrow, risk reward looks good, I look to cover around $6 or below (gotta see how it act at that psychological support level, if it gets there)
Ps my girlfriend shorted at $6.32ish
The next day:
Covered 4000 NTWK at 55 cents, great day…another easy short, this one was even scarier, especially given my horrific entry price (any great short seller would be in at 65, 67, 70 cents/share) and yet I still made $300, $1200+ on the day…I covered quickly because I’m exhausted–you guys see me working all hours–and its nice to be done for the day (can’t find any SCON shares to short, no other great setups….yet) by 10am…also on a heavily manipulated stock like this, you gotta cover into the morning panic or they’ll place fake buy orders to scare sellers and it’ll bore you to death…I wanna hear some testimonials on this one too!
…and:
Covered KIRK right at $6…I’d normally have waited a bit longer, but when there’s overnight news, I take my profits and go…made about $1,000 just holding this short overnight and profiting form the fact that the momentum buyers see the first down day and get all nervous and sell quickly…great little predictable trader behavior…this stock was easy to borrow so I want to see some big gains posted on TIMalerts.com from you guys!
Turns out I covered the pump and dump NTWK a bit too soon, but considering it wasn’t up as much as I like, but I was dead on with KIRK as within 20 minutes of market action, it was rebounding and my exit was niiiice. Anyway, check out the TIMalert testimonials from these two trades below:
just subscribed with u 5 days ago and already made $1500 profits, thx tim
-Random Twitterer
Tim my man, what did I tell you when I re-joined TIMalerts…”At that price ($197), you’ve convinced me to sign back up again, I’ll recover that w/ one trade.” And boy did I, First trade back NTWK just covered my 3000 share short at $0.47 from $.60 for an easy $370 profit! I am now up 18% in april, up 27% year-to-date, and up 117% overall. Keep ‘em coming!
-Adam N.
Thanks for the $NTWK… 1 for 1 (only 2K shares but 25%+ return for 1 day) next…
-Random Twitterer #2
extra $310.05 profit on NTWK … total TimProfit 2009 up to $2185.21, total TimProfit since June 2008 of $50,409.81.
-Michael Goode
just covered NTWK, 18% profit, $330, was a little more patient today and covered at .45
-BGW
+$200 on NTWK, in .65 out .55, 2000 shares
-BTB
covered at .54 (only could get 500 shares @.66). $60 profit
-urbancowboy
out NTWK, I only got filled on a 1000 f**** shares… +62 bucks baby!!!! :)
Good alert Tim, just a bummer I couldnt get the 5000 shares I wanted.
-T Bohen
only had 1000 shares at .66 got out at .60 well before most of you it just looked scary 40$ @profit
-Dave
Out KIRK total P/L for yesterday and today $1037.02
-T Bohen
In at $6.31, out at $6.16 for a quick $144 gain. Thanks Tim. That was fun.
-Cabassi
Bad entry, and WORSE exit. However I made 32 bucks after commision. That may not seem like much to you guys but old Tony would of entered in worse and exited with a loss. (I’m GREEDY)…Thanks Tim! …I’m learnnnnnnnnnning lol
-Tony
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