Previous Post
Next Post

Lenny Dykstra Files Bankruptcy, Exemplifies Penny Stocks

Posted by Timothy Sykes on Thu 9th of Jul, 2009 08:15:07 AM
  Tags:

Oh yes, it’s finally true as you can see in THIS article:

Former major league center fielder and hustling enthusiast Lenny Dykstra has filed for Chapter 11 bankruptcy.

The filing, which was done on July 7, claims that Dykstra has no more than $50,000 in assets and between $10 and $50 million worth of liabilities.

I’m not a mathematician, but that doesn’t sound like a good combination.

Surprise, surprise–Remember when I wrote about Lenny HERE?

Or HERE?

I bring Lenny up for a third time so that you understand how crappy Penny Stocks are…because even though 99% of Penny Stocks similarly file bankruptcy, 100% of Penny Stocks similarly DENY DENY DENY that there’s anything wrong, just like Dykstra has for the past few months.

The lessons here: never trust people or companies with skeletons in their closet. They will lie to you. They will cheat you. They will do things you wouldn’t believe and you can’t be bitter…that’s just life.

Let’s take it a step further–if you sell instructional DVDs on ANYTHING, or write a premium newsletter on ANYTHING and yet you refuse to share your track record/credentials/don’t have tons of daily testimonials, you’re suspicious as hell and since I don’t have time to do research on all those who are suspicious, I’ll just assume you’re a fraud/have skeletons in your closet just like Lenny Dykstra and other bankrupt Penny Stocks.

Spread This Post:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • MySpace
  • StumbleUpon
  • Technorati
  • TwitThis
  • Yahoo! Buzz

TIMstore Monthly DVD Specials:

See all TIM DVD specials HERE

Related Reading

Previous Post
Next Post
  • Tim, it's all about PYMWYMI ... Put Your Money Where Your Mouth Is ... and that's what you continue to do.

    The Greek
  • Nick
    Tim,

    As much as I think you are a bit on the cocky side, I respect your transparency greatly. You are a great example of a trader who sticks to what he knows, trades patterns to a T, and provides detailed information on his own performance to provide potential clients with a clear understanding of what is what.

    You may find this to be a stupid question, but I feel its worth asking: say you grew your (previous) hedge fund to 100MM, what effect would that have on your potential to move prices in these pump and dump schemes? Obviously economies of scale come into play, but don't you think you would have as much power as the pump and dumps to manipulate the markets(via less overall action in this niche)? Do you consider that unethical? I know it happens all the time, but do you feel its ok for anyone to do this? Lastly, what is the biggest microcap/small cap hedge fund out there? The only reason I ask is because you are very profitable and I don't understand why if anyone can pick-up your DVD's and do this, the big guys don't as well.

    Thanks!
  • wallee
    The "big guys" make about as much money just sitting on their asses collecting the 2% management fee.
blog comments powered by Disqus




Start Here

Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

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%)