TIM $14,336 (up $35 on the day)
100% Cash
Yes, this pattern (as detailed in my DVD ) works nearly every time–why am I telling everyone about it? TIM really is all about transparency!
When you’re scheduled to film during market hours after taking a red-eye flight the night before, you kn
ow your day is gonna be a mess. TIM Lesson: Never trade when a lack of sleep forces you into a zombie-like existence. Luckily, before I felt the effects of my severe lack of sleep, I covered my 100 shares of SOLF at $23.50 at 8:01am because I really didn’t want to risk it spiking. These were shares I’d shorted at $24.70 so it was a decent %/$ per share gain and I was comforted by the fact that the stock did spike perfectly to $25 or so within an hour of my cover. Yes, the stock downtrended throughout the day and I could’ve gotten out at better prices, but, again, I’m not trying to be perfect in my timing, my goal is simply to take $1 or $2 here and there in profits.
Then, I got to sneak in an hour of sleep so the makeup girl wouldn’t have to work so hard to prep me for my mid-day interview. (Don’t worry, I’ll def. let you guys know when this interviews airs—I’m told it’s for a new show that will either air on FOX or CNBC…get excited!)
When I got back to my laptop/sofa trading station around 2:30PM, I was really feeling awful. Not because of my sleep situation, but because I’d missed some perfect afternoon fades in SOLF and particularly CPSL. SOLF held up surprisingly well as there was only $1 of downside after the crack of its morning low. It’s already waaaaay of its highs now so as bearish as I am on these kinds of patterns, I’m not gonna short it unless it shows me a really perfect breakdown.
But CPSL, that’s a different story. Again, I like to short strong stocks that exhibit intraday weakness—when CPSL went negative in the early afternoon, after a huge runup yesterday, this is easy money for short sellers. It cracked $7.10 all the way down to $6.25, plenty of shares available to short, plenty of liquidity—TIM’s trade coulda woulda shoulda been to short 500 shares and take a $250 profit or so. Now, it’s bounced off its lows and while it could fall back down, now the chart is somewhat sloppy. I’m staying away.
The good news is we have a whole bunch of other Chinese/Asian/low priced POS rising to short into when the time is right! RCH, JADE, FFHL, HOKU (which can never seem to hold its gains no matter how good the news is!)—they all should offer me some great shorting action either tomorrow or Monday, when I’ll have caught up on my sleep and be fully ready to stalk my prey.
I’m going to bed…or nap actually…got the big pre-event dinner tonight for my keynote speech to EQUITIES Magazine’s event tomorrow. Damn, me so tired 
