Tim, you are the best
i bought idae in the worst time yesterday…sold in a bad timing today
still made $540 from 6,000 shares
been in peter leeds.com, been in portfolio crafter, made a little money from their picks
but not close to what i make from tim alerts!
thank you
-Gil

$210 gain on IDAE long in my IRA account
-Barrett

Thanks to Tim & TIMalerts, I made $500+ on IDAE this week alone not to mention some smaller gains on other TIMalerts.
-Brickhouse

Tim . . got out of IDAE. . . made $247 profit. .. thanks for the pick!
-Deuce

I made about $220 on IDAE after fees and commissions… I’ll take it any day.
-Oracle of NYC

I just sold my 5K shares at 2.44 and 2.45…Tim, for your records I pulled in $777 before commission
-PCola

Without TIMalerts, I made
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In PennyStocking & TIM You Must Trust: Receive 6% Overnight Interest At The Bare Minimum, 15-25% If You’re Not Jewish

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As I emailed TIMalert subscribers in near real-time, I sold my HYHY position near the market open at $2.37 for a solid, if not extraordinary, 6% overnight gain of about $265, putting TIM up 8% on the month and right back to my old highs, up 55% since November 2007.

You see for all my crazy—some say—theories, but this time proven right…yet again…suckas, I stink at timing my trades. (As I think I proved beyond a shadow of doubt with my woeful but carefully controlled losses in May) Scared by my own openness (probly best not to call a company you’re long a fraud) in last night’s post and another scathing overnight article on The Fool (the hypocrites wouldn’t publish a nice review of my book An American Hedge Fund by one of their writers cuz it deals too much with Penny Stocks—man, I’m telling you Back of the Bus-type discrimination makes me sick) entitled “Potential Scam Alert”, I wasn’t sure how much longer this rally would last.
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My First TradingMarkets.com Article: Limit vs. Market Orders

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Lots and lots of people have asked me about limit vs. market orders so I finally got around to writing a detailed post on the subject. Since this topic extends far beyond that of PennyStocking in importance, I decided to publish it on TradingMarkets.com…which is an overwhelmingly solid trading information resource…they liked it enough to put it as their top article with my pic all day Sunday (thanks guys, I’m honored!)…and you can view it HERE!

Hope this helps you newbies out there, market orders are evilllllllllll…more evilllllll than SEC bin Laden…well, actually it’s a toss up.

How To Short Sell Penny Stocks Safely: Three Quality Short Trades

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Judging by the posts, we’re all making money lately. Good, I don’t know of any other site with such high percentage of people profiting…especially when none of us are very smart or experienced. I think it’s cuz my impatience has taught you guys to take your profits or losses quickly cuz you’re trading the most volatile stocks around. Yes, you should let your winners run, but that’s not as important as knowing you should never ever let your losers run, no matter what your meaningless little mind thinks. (If I don’t cut your egos down to size, the market will, which do you prefer?)

First up, I shorted 500 NTI into the market close of its first truly down day on Monday. Volume had faded, Superman’s posts on TheLion.com stopped being responded to as often—basically the hype was dying down so my $13.70 entry point looked ideal. Pre-market Tuesday brought the usual 100 share painting-the-tape games, up $2, down $1, all meaningless. When the stock opened, it was down 20-50 cents, the range being the ridiculous price spread on such an illiquid stock. I wanted it to crack $13 or at least get close so I put in my order to buy at $13.01, which woulda been a $350 profit…never got there, not even close. A massive (sarcastic) buying wave of 3,000 shares took it up to the $14.50-$15 range and I thought about covering for a big loss…but I waited—it was just 1-2 orders! Volume faded and the stock gradually dropped, when a big sell order came in, I decided to get out and not risk another massive (sarcastic) buying wave to squeeze me for $1/share…no, I covered at $13.77, for a $50 loss. Good loss. No, it was a great loss. The rest of the day volume continued to be anemic, as it was today, very few orders executed below my price, now it’s just consolidating, could go either way…great, great loss cutting.

Lesson: If a big gain does not seem likely, don’t worry about being up or down a few cents, just get out—you don’t want to risk a big loss when the reward ain’t there.
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The Right & Wrong Way To Short Sell A Fraud Like Kentucky USA Energy Inc. (KYUS)

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Yesterday, a day after failing to be too aggressive with shorting known fraud CNEX, as it plunged from $7 to $3 and my readers made thousands of dollars, I saw a morning dip on fellow pump and dump/known fraud KYUS and shorted into it, 2,000 shares at $2.37. Although hugely manipulated, it was only up $1 or so—no $1 to $7 action—but I was afraid I was gonna miss out on a possible 50 cent drop. Not only did this trade break my trading rules—wait til the friggin afternoon you lil bitch!—but I let a prior trade influence a current one. Two major mistakes, so I deservedly was forced to cover into the late morning spike, at $2.56, rubbing the typical morning fakeout breakdown in my face. So, I finished the day with a loss of $413, after commissions, now nearly $1,000 of my highs just last week.

Today, with the stock opening slightly higher in the $2.60-$2.70 range and a morning meeting to work on TIMtv, I made sure not to even consider shorting until the afternoon. Not even when I saw it tanking to $2.40, just as I was walking out the door, was I tempted to short the 3,000 shares I reserved—if I missed it, I missed it. (that morning dip turned out to be yet another fakeout)

But by mid-afternoon, while still in the studio, after some solid sideways price action barely clinging to positive on the day, I saw the stock go slightly negative on the day and I said to myself, “this is a worthy pattern to short into.” I missed the initial drop as it just fell too quickly to $2.50, but I thanked my lucky stars that it bounced right back near the unchanged mark, just as I shorted 2,815 shares (135 shares didn’t get executed) at $2.58.
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How I Screwed Up These Two Near-Perfect Calls To Sell Short

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Take a look at my latest two trades—shorting 1,200 shares of probable-fraud spam-happy BSHF into a morning dip at $2.55 and 1,000 shares of failing business-so-let’s-float-a-takeover-rumor VM into a nasty slightly negative close yesterday at $4.01—both of which tanked 15%+ within a few hours of market action of my shorting. Great calls to be sure, but I somehow managed to screwed both up–and judging from the comments, I’m glad many of you guys did better!

Unfortunately, the BSHF pattern appeared the day before this new website went live and since it didn’t tank in the early morning EXACTLY like I wanted, I covered for a $75 loss since I had a million things to do to make the launch. Didn’t feel guilty about it until later in the day when it tanked 50 cents/share in a perfect representation of a spam stock falling apart! Sad sad sad, but one of those rare unavoidable situations.

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Minimizing Trading Losses: Two Overnight Trades That Didn’t Go So Well

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From a few days ago, just hadn’t gotten around to writing about it…as I mentioned HERE, I shorted 2,000 (KOG) at $2.75 near the market close when it cracked sideways price action so I thought it’d go negative on the day—I was right that it did go red, but I didn’t take my 10 cents/share gains cuz I wanted a big drop—not a pesky $180 profit. Unfortunately, I had a flight to catch the next morning…

Took a later flight to watch the market open—wasn’t comfortable at all since it opened above the sideways price action crack of $2.80, covered at $2.82, a $160 loss including commissions. Screw that, played I safe…I can take $160 losses all day long. Later in the day, it went decently red down to the $2.60 area, so I wasted $400, but when I play volatile stocks, I don’t worry about predicting every 10-20 cent move—I take my 20-50 cents-$1/share gains thinking stocks will make much larger swings (so I won’t have to be perfect in my timing) (such as THIS trade)

Three days later and KOG is still bouncing between $2.60 and $2.90, a clear sign that a big drop was never in the cards. So, my loss wasn’t that bad. Decent trade…glad to hear any of you timed it better and escaped with some profits!
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How To Short Penny Stocks: Playing It Safe By Covering Short Positions Early

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This is a profession where we know 90% of the players lose—you want to do everything you can to not be one of them. What’s worked for me is Short Selling weakening stocks that have a bunch of overhead resistance and if the price action doesn’t pan out EXACTLY like I want, cutting my losses quickly. I’ve proven both these points with my latest trades on COT and ASTI.

As I posted the other day, I shorted COT at $3.48, encouraged by a late afternoon crack of sideways price action, making em think it’d seen its top. Unfortunately, overnight good news caused a 15 cent/share gap higher—not much, but definitely not to my liking. Thought about holding, but when I see fading volume and 20k and 30k buy orders—whether they’re real or not—there’s the potential for a big squeeze, so I covered my 1,000 shares at $3.60, a $140-ish loss. Not bad, just playin’ it safe.

Minutes later, the stock was looking to go negative and I tried reshorting 2,000 at $3.55—order REJECTED. Too much trading for this under $25k trader, pesky SEC-Reign-Of-Terror-Rule (Pattern Day Trading Rule (PDTR) should really be ROTR) stopped me…stock drops nicely down to $3.25—annoying $500 gain missed, but this is why most traders play FX and use tons of leverage (SEC you realize you’re punishing the good guys and encouraging the bad ones, right? AKA any economic disaster is squarely on your shoulders). Gotta learn I can’t enter and exit as I please, like being on probation for a crime I didn’t commit—never gonna get more comfortable risking losses.

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How To Short Sell Stocks: Why It’s So Important To Trade Scared And Use Protection

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Early morning, reserved shares in 3 hard-to-borrow stocks, all multi-day runners, COIN, WSCI and REED. Since I typically do better with low priced stocks, I focused all my attention squarely on REED…mistake #1 (today’s only its 2nd big up day, not 3rd or 4th when its infinitely more likely to run out of steam) WSCI and COIN both took nice morning dips (though neither ideal WSCI just made a massive cup and handle and COIN, well, it’s COIN, enough said)…missed ‘em both since my 3 screen monitor busted and I’m on a laptop

TIM Lesson: Either use multiple trading screens miss simultaneous opportunities, the more screens the better…up to a point

In the first hour of trading, I considered shorting at $3.89—solid big sell orders padding me above—but all the trades were buys and a morning squeeze was possible…10 min later the squeeze was on and once it took out $4, it went straight to $4.50…I thought $4.50 would hold (yesterdays high) so I shorted 1,000 at $4.39 with the goal of buying into a quick reversal around $4.

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