Where I Think Zagg Inc. (ZAGG) Is Headed Now & How We Made $8,000 On It Last Week
Posted by Timothy Sykes on Mon 27th of Jul, 2009 04:00:34 PM
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You might remember I knew ZAGG had some serious potential back in February when I wrote THIS post with the stock breaking out past $1.50
…well, I didn’t hold (Damnit man, ‘m a newsletter writer/teacher, not a pro fund manager/trader!), but last week I sent the following to TIMalert subscribers:
Bought 2000 ZAGG At $6.87ish…the chart and the story are just too strong…kinda like RINO…that’s why I keep this position small, if and when it does breakout of the lows $7s, it could do so in a choppy fashion…but if and when it does breakout, it could also be quick so that’s why I’m getting in early…earnings coming out in the next 3 weeks, NASDAQ listing press release imminent, rabid traders who love it on message boards, add in a stock promoter or two (yes, no matter my buy ZAGG is still suspect) and today’s strong Apple sales all add to the combo powerhouse that is ZAGG which should lineup to create a short squeeze/momentum push over $7.45, with my goal to sell at $7.99 or maybe even above $8 depending on how any breakout occurs…stop loss at $6.50ish, 30 cents of downside, $1-$1.50 of upside, good risk-reward over the next week or so
And sure enough, the next day, the stock did breakout past the old high of $7.45, making me DEAD ON with my anticipation of that breakout, buuuuuuuuut last Thursday:
Sold 2000 ZAGG at $7.44, Great Profit…I’ve got to fly back to NYC later today so no way am I risking in this stock, which to be fair is looking strong, but it’s basing BELOW resistance at $7.50…I’d consider holding if it was basing ABOVE resistance, but I just don’t trust this stock considering we know stock promoters are in this…nice 9% profit for me…again, let me very clear, this has further probable upside, but my personal schedule is int he way…great lesson if you want to be a conservative trader like me: don’t hold positions you’re unsure about when life gets in the way.
That’s right, i didn’t just call the breakout, I called the top too as even though the stock did hang around the $7.60-$7.75 area, the next day an ANALyst downgraded the stock and it tanked, creating a PERFECT double-top at the $7.50 area…
People on the ZAGG message boards were left scratching their heads, but I made $1,100, putting me up 445% (see all trades HERE) over the past 22 months (extending my ridiculous league as top-ranked trader out of 25,000 on Covestor (see leaderboard HERE) and TIMalert subscribers baaaaaaanked over $8,000 on this PERFECT 2-day trade: (as you skim through the testimonials below understand that there were NO obstacles to executing this trade, as oftentimes, it’s tough to find shares to short of perfect plays…lately, I’ve been buying breakouts with some decent success, the only short-biased trader who loves bull markets!)
Got out at ZAGG @7.50 yesterday, taking in good $3500 in profit…thanks tim!”
-BBP
My very first Tim Trade this week: Bought 2K ZAGG @ 7ish, out in a couple hours with $811 net profit. Beautiful. I’ve taken some of that profit and ordered TIMfundamentals DVD…Thanks!
-CW
+$500ish on ZAGG yesterday. +$1000ish on the long side of CHINA, I missed the short alert but bought when you covered.
-tbohen
$246.5 profit on ZAGG. Thanks Timmay!!!!!!!!
-carlos
My very first Tim trade - in ZAGG 7ish, out 7.7ish, $120 profit!!!
-goblue
made $55 on zagg
-mike R.
Bought 400 ZAGG late at $7.20 , sold at $7.70!. $200.00 profit before commissions in a day. I’ll take it!. Thanks Tim
-Mike M.
9% profit here, thanks tim!
-Rich A.
$580 on ZAGG. Enough to cover my PennyStocking DVD and annual TIMalerts package.
-Clark
+202 on ZAGG, small 300 share position
-Mike D.
Sold 250 ZAGG @ 7.45 - $75.00 on my new ToS account.
-hiro
in 700 zagg at 7.43 out at 7.61.. 106 dollar profit
-drewpac
in at 7.11 yesterday, out at 7.70 today - $300-ish profit
-sommac
$7.20 and sold today at $7.61 - After commissions, I made $31 in less than 24 hours!
-ST
in 100 @ 7.00 out at 7.21, 21$
-CC
ZAGG in @ 7.2, out @ 7.61… $246.50 profits!
-Carlos
Made 40 bucks on my ipod. thanx Tim ZAGG was a beaut!!
-bassman
Made $50.. Damn, Did not sell when it was $7.75. Sold at $7.48
-darkblue
made an even $50 on ZAGG
-tony
So, what’s my take on ZAGG now? The same as every trade I’m not in, I could care less! The thing failed to breakout making me want to short it for a double-top, but has positive catalysts going forward in the upcoming NASDAQ & earnings release in August…conflicting means there’s no probability either way so I sit on the sidelines and watch, an infinitely better strategy than 99.99999995 of people who trade these carcasses.
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 19 | AENY | $2.80 | $3.02 | $1148 |
| Nov 18 | NLST | $4.16 | $4.40 | $947 |
| Nov 18 | IMGG | $1.42 | $1.64 | $2094 |
| Nov 17 | NLST | $5.04 | $5.59 | $2195 |
| Nov 13 | VRMLQ | $21.50 | $22.97 | $2901 |
| Nov 11 | EONC | $2.61 | $2.80 | $687 |
| Nov 10 | EONC | $2.74 | $3.36 | $9784 |
| 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: $98,094 (681%)
