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The Supernova Chart Pattern Strikes Again

Posted by Timothy Sykes on Thu 17th of Jan, 2008 05:43:26 PM

TIM $14,616, Up $212 on the Day, Short 1000 COINZ @ $3.43

Good thing my trading addiction made me make a trade during my layover as COIN tanked perfectly along with the rest of the market. COIN probably would’ve taked anyway due to the perfection of its chart pattern. COIN is now at the exact same price it was trading at before their CNBC mention, while other agri plays like SEED, MON, MOS, NOEC are all 20-30% lower (bodes well for me).

COIN really is a perfect supernova so I look forward to covering my COINZ short either tomorrow or Tuesday (market’s closed Monday, right?) for a solid profit ideally under $3.

As you can see, it’s a lot easier for me to load up on shares on lower priced stocks and take 50 cents/share, just as I did with COINW. Shake and bake!

I have no time to research, you guys tell me if any charts look interesting for tomorrow!

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  • AaronMariano
    i want to know what tim is going to be for halloween.
  • bao_t2008
    I read the minimum requirements for opening an account at IB. You can get away w/ the $10k minimum requirement if you're 21 YO or under. It takes $3k to open an IB account younger people.

    http://www.interactivebrokers.com/en/accounts/f...
  • Peter Piombo
    Attack.... I got the morning one too... not the other one
  • Attack987
    dang, i didnt get the e-mail. anyone else get it? got the morning watchlist but no HSNI notification
  • incorrect, attack, check your email, go into the chatroom or see the next post on this site, i shorted at 6
  • Attack987
    Dang Tim, you missed perfect afternoon fade on HSNI. Just cracked intraday low support at 5.83.
  • Yngvai
    Shorted CTCM at $8.69, covered at $8.09 for about a $240 profit. Wish I could jump in HSNI with you but I'm out of day trades for the day and I can't risk getting in the middle of the day
  • spirosu
    Given the area that we're in 3k is not so bad after all. Just moved into my new place literally two weeks ago and picked up all new furnishings (and a 46" Samsung 650 series as an ancillary bonus). After all was said and done I had dropped $7500, but I'm still on my Ikea kick so I did get most of it on the cheap. Enjoy the new couch, it is nice - brown leather is what I would have gone for too.
  • gotcha, couch is nice, 3k is actually "a deal" for a leather queen sleeper sofa...apparently:

    http://www.crateandbarrel.com/family.aspx?c=936...

    its that just in brown leather
  • spirosu
    Tim I know, point taken with respect to their customer service but I rarely find myself calling them for any reason because the rest of their system is so efficient. You're quip about the 10k minimum requirement is a valid one and I agree with you on that, but anyone considering IB should note that it's only to open the account initially, afterward you can stick with 2k or so for a margin account (if you absolutely have to). Seeing as I'm not going to condone borrowing money for the sake of meeting the initial capital requirement to fund the account, I will say that at least when that 10k mark is reached that people should give them a try. Trading with someone else is a disservice to yourself otherwise.

    How's the new couch? Did you get the obnoxiously overpriced 3k one you mentioned on Friday during livestock?
  • Yngvai
    CTCM is breaking down nicely
  • too early for hsni...yes, will get IB account, but most people on timalerts dont have 10k to open an account, i started with the little guys and with them i'll always remain, even when i do go after larger traders too...also tough for me to recommend a broker with horrific customer service when newbies need questions answered
  • spirosu
    Guys, not trying to offend anyone using TOS, but you seriously need to open an account with IB; they always have shares! For instance, they have over 50k of VLKAY, 550k of HSNI, 95k of TRMS - just pointing these out in specific as some have mentioned them today. And you don't need to wait on hold for ages to reserve these which is a bs process in my honest opinion. A opportunistic trade doesn't hang around for 20 minutes or so but is gone within the minute most times. Do you really want to be staring at a stupid pop up window while this happens?

    I hate seeing so many potentially good plays being missed by so many people because they're using a second rate broker, again, no offense to TOS but Tim has been endorsing them for far too long for reasons I'm not sure of apart from his little kick-back.

    Tim, I say this in the nicest way possible but you need to open up that IB account already. You're imaginary VLKAY play could have netted you $1450 or so [(194-165)*50] if you had an account with them open already. Do it! Today! Apart from the depth and breadth of shortable shares (http://www.interactivebrokers.com/en/trading/Se...) that they have, they're better in every other which way too.

    Should I care though? Not really, but seeing as how a lot of us are in this together in our quasi group effort for the better good of TIM Alert subscribers, I do find my conscious and benevolent side of me trying to dispense a few nuggets of wisdom. Just as Tim is trying to guide us to the best of his ability I also feel inclined to help in the small capacity that I can.

    Let's do this people. Get off your unfounded obsessive keester for TOS and get trading with IB.
  • steveduckels
    Is it too late to get in then in your opinion?
  • yup, just wished it'd waited til the afternoon, got the movers here with my sofa!
  • steveduckels
    Tim are you watch HSNI?
  • roberts, market doesnt matter, only patterns of these specific plays do...thats what my dvds are for, pattern recognition:

    http://www.timothysykes.com/store
  • droberts
    When is the proper time to short these? The markets are heading up right now
  • Yngvai
    PNRC is moving from one of your earlier watchlists
  • Reaper
    Oh yeah, and that other trading strategy is arbitrage, so as long as I don't leverage up, it is very low risk. It will be nice to have something to do with my cash in my (growing) account.
  • Reaper
    Well, I missed my entry for adding more VLKAY due to another trade, but that other trade means I now have another viable trading strategy that can easily be programmed so that it can be auto-traded. And I should be able to generate an annual return of 10% to 20% while deploying up to $200k on maybe 50 days during the year.

    From chat -"looking for Volkswagen (IBIS: VOW) to break below intra-day resistance at 750 EUR to short more VLKAY. "

    That would have been a $191 entry on VLKAY. Now looking for it to break the larger intra-day resistance of 625 EUR. From there it could easily hit 450 EUR and VLKAY should hit $100.
  • wills
    Re VLKAY, you guys realize there is a 6% free float in this stock, so thats why it can be squeezed so easily
  • wooohooo up $10/share on my imaginary VLKAY short! hope u guy shave some real gains
  • lbas is a dividend payout, split 1/3
  • LBAS?? it's down to 2$ from 6...
  • i'd probly take a 50 share short position in VLKAY here at 194 if i could find shares
  • be-the-ball
    good luck reaper
  • Reaper
    Volkswagen now is the world's largest company by market cap, all due to this short squeeze:
    http://www.iht.com/articles/2008/10/28/business...
  • Getshorty
    Good to know your position is small on VLKAY, worried when I saw those 186 bids, hope to join you short on this one soon
  • Reaper
    Volkswagen up another 45% today in German trading, so VLKAY will be up the same amount today. I held overnight and will be down that much. I will look for good price action to add to my short. Because this is such a weird play my position was very small.
  • YoungGunz
    didn't really see any standouts in the list that made me drool though.
  • YoungGunz
    haha, usually i am good at checking before i request. A little sleep deprived lately.
  • notesguy88
    HSNI is easy to borrow.
  • YoungGunz
    Trying to reserve HSNI and TRMS but haven't had a response in over 20 mins. Must put me at the bottom of the pile with my piddly account.
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