CHATROOM

New Book Review from Atlas Shrugged Social Networking Site

November 7, 2007 at 6:00 pm
by Timothy Sykes

Watch these 7 free video lessons on how I became a millionaire

If you’re a fan of Ayn Rand’s incredible Atlas Shrugged and The Fountainhead (two books I both highly recommend), then you’ll be pleased to discover there’s a new social networking site called
eatlasphere.com/”>The Atlasphere…and they just reviewed my book.

The review was written by a financial planner, Greg Feirman of Top Gun Financial Planning and is called The Odyssey of Star Stock Trader Tim Sykes (told ya they were clever) who previously reviewed my book here.

Sorry, I’m just in a linking kind of mood. Have fun clicking!

UPDATE: Another glowing review just came in, this time on AccumulatingMoney.com and this guy’s even giving away a copy of my book so def. check it out

Posted in Book Reviews

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  • preisendanz

    Are you still at the BK?

  • Reaper

    I found WRSP, but no shares were available to short @ ToS or IB.

  • milingz

    reserved shares of TRMP…my mom bought me one of his ties, terrible. ill stick to brooks bros.

    figure out about the laptop yet tim?

  • Reaper

    IB has 200k of TRMP

  • lamecoder

    TRMP is really a turd of a company, do you guys remember watching it go BK a few years ago.

  • lamecoder

    Tim, what do you think about this one: PHHM

  • http://www.test.timothysykes.com timothysykes

    phhm is a real company, macro play, no thanks

  • lamecoder

    gotcha

  • lamecoder

    I know PHHM is off topic, but have you ever seen anything like this before:

    Settlement Date Short Interest Avg Daily Share Volume Days To Cover
    7/15/2008 4,255,693 93,402 45.563189

    Shares Outstanding: 22,852,000

  • YoungGunz

    I got 500 of trmp. couldn’t get any GNAU. I didn’t see any other ones mentioned that you were reserving.

    TRMP has a decent seller trying to dump 2k at $3

  • be-the-ball

    c’mon Tim, I can do a search on the site and find 100 examples of you saying you don’t like to short stocks under $1. And today your first pick is to short a $.68 stock?

  • milingz

    anyone looking at CROX premarket?

  • http://www.test.timothysykes.com timothysykes

    BTB when the f%^& do i say i’m gonna short it under $1…u have to anticipate runups dude…also u froget its not just me, i throw out possible plays for all u guys

  • YoungGunz

    So everyones wanting to know…you get a new laptop? which one you go with?

    Looks like I will be bugging ToS again about gnau if I see it run up above $1.

  • YoungGunz

    nevermind i didn’t see the contest on the main site.

  • beinggreat

    UAUA up over $2.00 in the last day

  • Reaper

    some huge-ass blocks (buy and sell) on TRMP. It’s the main play I’m watching … I’d want a spike this morning, though.

  • be-the-ball

    Sorry Tim, you need to allow the ability to edit/delete posts in here. I wanted to delete that post after I reread the alert email but no way to do so….

  • Reaper

    short 2k TRMP @ 1.96

  • YoungGunz

    looks like its panicking a little this morning. I’m still holding out for a squeeze after the morning settles.

  • Reaper

    Out 2k TRMP @ 1.84. +$220

  • Reaper

    Lost $50 going short again and covering. +$178 overall. bids and asks are balanced now.

  • YoungGunz

    nice profits for the first 10 mins of the market open reaper. I was hoping for it to spike early to short into. still hoping it squeezes.

  • AdamN

    Shorted 2,000 shares of TRMP at $1.98. Falling like a knife right now.

  • Reaper

    That was a no-brainer scalp on level 2 — There was one big 10k buy block @ 1.96 with nothing much below it for 0.10. There were twice as many on the ask as on the bid.

  • YoungGunz

    bah, looks like a missed opportunity for me. Oh well there will be more next week. I’ll keep holding for a spike but the way it is looking I doubt it.

  • arcus

    Looks like you might get your chance YoungGunz…TRMP might be heading back up.

  • Reaper

    Not used to the BookTrader on IB … made an accidental trade. There are downsides to one-click ordering! After placing a couple more orders with it to get a better feel for that tool I end up $161 (I actually called the reversal and went long but got out quick; anyway, at this point it is just pennies). $16 is a small price to pay for being confident trading using level 2 and being ready for the next good play.

  • YoungGunz

    I am on my last day trade too and wanted to make sure it counted. Thought it would recover after the initial panic so I waited. Its holding around 165-1.70 though. The game may not be over yet. Maybe it’ll even turn into a livestock trade in the afternoon

  • AdamN

    F&$%’ING SEC! I screwed up my cover order on TRMP, I only covered half my position, and when I tried to cover the rest TOS threw an alert saying I would violate the PDT rule! I had one remaining day trade today and I short sold at the open 2,000 shares, covered half and now I can’t cover the rest w/o TOS suspending my account. I am being forced to hold the other 1k till monday, ARGGGHHHH!!

  • YoungGunz

    Ahh reaper, I remember now that you’re over the 25k PDT limit. MNLU is up .52 this morning…anyone watching it closely for a breakout?

  • milingz

    Tim, you make more than 3 day trades per week (under 25k) on TOS

  • YoungGunz

    I am seeing new highs if it breaks 7.10? That what you guys find?

  • YoungGunz

    Adam you can still cover I did it this week when it didn’t fill all my order. you’re still performing the same sell and cover…if you sell again then cover you’d be dinged.

  • YoungGunz

    I had 200 shares of zyxi and it only filled 100 at first and sent the alert that it was using one of my pdt and i thought i would get hit again when it covered the next 100 and it did not…Don’t let it stop you from getting out if you still want to.

  • YoungGunz

    you can buy once and sell parts a little at a time all day as long as you don’t buy back again.

  • AdamN

    YoungGunz, I spoke directly w/ a TOS rep and they assured me my account would be suspended if I covered the rest of my position (and didn’t fund my account to $25k). I argued that exact point to the rep and they said it didn’t matter, still counted as a second trade. I makes ZERO sense to me.

  • Reaper

    AdamN– I’d say get out of TRMP, no matter the cost … it is completely random now.

    YoungGunz– I’m over the $25k limit in both my IB and ToS accounts. It is nice! I didn’t starting investing or trading until I was over that amount, so I’ve never had to deal with the PDT rule.

  • adairjm

    Shorting NKTR this morning. Looking good so far.

  • Reaper

    Investorslive had a good call on the NKTR gap and crap.

  • notesguy88

    Hey you guys,

    When you reserve shares at TOS, do you also talk to them via chat to place the order or can you just place the order yourself using the client?

  • YoungGunz

    milings, i don’t want to speak for tim but I don’t think he’s done more then 3 this week. He went short into the close on ZYXI earlier on tuesday and did a day trade on wednesday of MKTY.

  • YoungGunz

    With ToS if it is labeled hard to borrow it automatically rejects the short request and tells you to contact a broker directly with live chat or by phone. I always use the live chat to talk to the trading desk. They are usually pretty quick to respond.

  • YoungGunz

    AdamN, I really don’t think that the rep is telling you the correct info. I did exactly that on ZYXI. I bought at the open. and then tried selling and only half the order filled. it pinged me with the warning that i did a daytrade. I cover the second half and it pinged again with another warning but it didn’t take a daytrade away from my counter.

    I daytraded MKTY the next day and it dinged me for my second day trade. I still have one left. You’re talking real money here, I would be wanting to take the profit and risk the penalty then lose money.

    Also don’t settle for the first person you talk to. I bet if you call back and say the same thing to someone else they’ll probably give you a different answer, if not a different explanation.

  • notesguy88

    Thanks YG. I can’t trade on TOS yet as the whole funding process might take me another week or so but it doesn’t hurt to get familiar with the operation at TOS. :-)

  • YoungGunz

    I really liked ToS the more I use it. the tutorials are nice and its really easy to ask a question with live chat if you can’t figure something out. I thought it was a little overwhelming for me at first but the more I use it the more I like it. Way better then most of the popular commercialized brokers like etrade, scottrade, td ameritrade.

  • YoungGunz

    I don’t know if I can get shares and could be bad to short over the weekend but what do you think about shorting into the close on MNLU? Last time the attempted to pump it to its highs it dropped over $2. That or give it till monday to see if it cracks. Today its acting like it did 7/16. 7/17 it went flat, 7/18 it gapped down at $6.20ish from 7.10 then kept going to 4.90.

  • AdamN

    YoungGunz, you are correct. I just chatted w/ another TOS rep, and they said that I could close out my remaining position of TRMP. Ironically, as I was chatting over TOS IM, the other account rep that told me No earlier actually called my cell and apologized for his error, said he did more digging and wanted to let me know that I was right. WHEWWW! Go figure I’m actually up another $100 from holding that other position from this morning.

  • YoungGunz

    Thats good to hear that it worked out for the better. Thats the biggest thing that I have learned about being a stubborn SOB when i comes to customer service reps. They usually never give you the same answer. Especially if you have to talk to Sprint. Can’t wait for my wireless contract to expire with them. Thats really nice to see ToS taking a proactive approach to apologizing for their mistakes and actually call you back. The little things like that is what makes for good customer service.

  • AdamN

    Yes agreed, I was quite surprised that made right on their error. So far I have made $500 on the TRMP trade. I will cover soon if it fails to take out 1.65 support.

  • bestdeception

    Tried to short both MNLU, and TRMP, but couldn’t get any shares :( .

  • AdamN

    Looks like TRMP was a Beacon pump.

  • YoungGunz

    i wouldn’t short trmp now i don’t see much more downside.

  • milingz

    u think there will be a small trmp rally toward the end of the day

  • whomee9

    FOr your music video, make fake money with your face on them. Literally Tim bucks. :)

  • AdamN

    Covered the rest of TRMP @ 1.69. Made $480 all said and done after comissions.

  • lamecoder

    You guys with TOS accounts, do they only let you make 3 day trades a week?

  • YoungGunz

    It is a federally regulated rule for people under $25 in their accounts. If you buy and sell a stock in the same day 4 different times your broker is required to limit your account and take away for margin.

  • tuck

    Anyone try to short CBON say 1/2 hour before the close?

  • http://www.test.timothysykes.com timothysykes

    TOS used to be more lenient with their day trading rule

  • notesguy88

    Hey Tim, I got your pennystocking dvd, manual, and book today and I placed the order yesterday!!. What a pleasant surprise coming home from work. Thanks! I’m gonna be digging into it over the weekend now. Now if only the process to fund my TOS account would move a bit faster now.