CHATROOM

Some Potential Plays But I Also Need Your Help

February 13, 2008 at 1:46 pm
by timothysykes

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Woke up to be disappointed by a lack of volume/gap up in my one position, so I sold my 700 shares of CTI Industries Corp. (CTIB) right near the open at $5.02, tough $200ish loss, but not a bad trade overall. Selling so quickly turned out to be right as it quickly tanked to $4.80. Smith & Wesson (SWHC) also bombed, market doesn’t like the low priced gap ups right now.

Do I really need to mention the TIM Lesson: Cut your losses quickly when the price action doesn’t go EXACTLY how you planned.

What I did right: Waited for an intraday breakout on volume, cut my losses somewhat quickly

What I did wrong: Bought into a stock not making a new high, did not close my position before the market close at $5.15 when it proved itself to be a fakeout breakout

Lessons: Only buy new high breakouts, all these crap multi-day, intraday breakouts are riskier because their patterns aren’t perfect

Tons of potential plays today, none of them ideal. This post is for you guys because I’m DEFINITELY not playing any of them, considering I gotta fine tune my speech for the Trader’s Expo (speaking about microcaps next Monday from 1:15-2:15pm, come!)

And more importantly, I’m filming with CBS News tomorrow morning for a segment to air this coming Sunday, should be interesting….

Potential buys:

Thanks to First Solar’s (FSLR) great quarter, all the solars are hot. Take a look at my Solar’s Eleven article to get acquainted to them again. Yingli Green Energy (YGE), JA Solar (JASO) and Canadian Solar (CSIQ) look the strongest—remember though, I’ve tried buying Solar Fun (SOLF) several times on breakouts, but each time its failed. Maybe the eighty-eighth time is the trick!

Converted Organics (COIN) might never hold its intraday gains, but its daily chart is beginning to look awfully strong.

Titan Machinery (TITN) is breaking out of a multi-day base nicely, but on low volume and it’s not an all-time high breakout…yet

Yucheng Technologies (YTEC) is hanging around key breakout price $18, odds favor a breakout, one of these days

Potential Shorts:

Vision-Sciences Corp (VSCI) is up 50% in the past few days, but it’s a medical device play (can surge foreverrrrrrr) and the chart is a storng breakout. Coulda woulda shoulda bought the breakout at $3 and held (good example of what kind of breakout to buy)

Spacehab (SPAB) what a total POS company, as reflected by its chart, up 80% off its lows on some funding news, potential NASA contract news, scary to short here at $1.80, but probly the right thing to do, cover at $150-$1.60 tomorrow.

So, that’s all I see, I’d love to hear ideas from you guys, maybe stocks getting close to breaking out—those are always tough to screen for.

Posted in Decent Trades, Potential Plays, TIM Lessons

Tags: , ,

  • http://www.300site.com Frank Tudor

    happy with COIN today…Also nice surprise from ACUS…NYNY was/is not running as strong as I had hoped but it is inching up. and I got my ass handed to my earlier on SPAB (twice on the wrong side of that bitch). Hopefully things will get more exciting by closing.

  • Tony Ellis

    What do you think about XIDE?

  • be-the-ball

    tim TITN is up on speculation that it will be added to IBD100 this weekend. Apparently if it is added it will be in top 20 as it has good IBD #s, whatever the hell that means.

  • timsykes

    XIDE–i like the clear breakout but the chart is soooo messy, i don’t do well with messy, i like cleannnnnn

    titn–yeah, people love speculating about ibd top 100 plays, usually good for a few points, no more

  • be-the-ball

    tim,

    few points is all I need :-)

  • Joey

    Tim, had a look at FRPT? What do you think?

  • timsykes

    FRPT is going nowhere fast. literally. don’t believe the hype, play volatile stocks!

  • timsykes

    Shorted some SPAB at $2.10, will average up on this one, considering i’ll be filming all mroning long, this was not the smartest decision, but ideally i can hold onto it for a few days

  • sonid

    looking for a short in spab now at 2.19 looks good what do you think ?

  • S Adams

    I’m watching OFG, it looks like it wants to break 20. CHNR is still on its uptrend.

  • timsykes

    Covered SPAB for nice quick gains, too much to do to risk it longer, makes up for CTIB loss and a little more

  • Aclap

    check out DISK today or tommorow- DISK was goign to be bought out for $4.40 ps. A couple weeks ago they terminated the agreement, and feel entitled to $4.2mil. They are now at $1.20 a share. I think there should be new talks about a deal at tommorow nights CC. interesting point- since they cancelled the deal, a new firm has been buying shares every day….

  • timsykes

    bought some COIN into the close here, too strong not to

  • Mike

    wouldn’t you rather short coin? and wait for a while? you can’t find any shares because hedge fund opened their positions long and short simutaneously. however they are heavily manipulating this stock, even though the intrinsic value of this stock is little over $1.

  • timsykes

    COIN is not a perfect breakout, but it’s a nice multi-day one. it’s been trying to breakout the past few days, failing every time. this was the first time it spiked into the close. if it doesnt gap up, i’ll sell for a 10-20 cent loss, but the upside is 50 cents-$1

  • Steven

    16:44 COIN Converted Organics files for a 750k share common stock offering by selling shareholders (10.75 +0.79)

  • Steven

    Tim

    Like your site, your energy. Good luck.

    COIN will likely be weak tomm.

    Steven

  • Raman

    wassup tim, i like your talks on breakouts, but it just seems too risky to me in this environment. i shorted COIN right at the close, i was surprised you said you bought it. could you explain your reasoning for a breakout a little more clearly? or if you’ve already explained it before, its coo, i can just poke around on this site to find it. it just seems to me that COIN seems to want to go to 11, but always gets slammed back in the process. (its down to 10 in AH)

    also, i shorted some Ruger (RGR) today at the close. dont think the dow’s uptrend will last, and RGR has no reason being up. any thoughts?

    anyways, got u on facebook, you join their fantasy stock exchange? i did it for a minute but i keep forgetting to update my picks.

    peace

  • timsykes

    sold my coin at 9.92. nasty lsos, chart was ripe for a breakout but can’t predict filing news. the probability of a decent gap up was on my side, i’d do it all over again…more in a detailed post later

  • Dan

    LNN

  • Mike

    wow, coin plunged after hours to 9.85

  • timsykes

    9.25 x 9.50 right now, this is why i cut my losses quickly, probly an overreaction but why risk it

  • JohnD

    Nice, Tim…way to go…teach your lemmings something that you have no clue in – trading…or hyping….whatever you want to call it….

    buying into stock with no money, with a chance to have financing done any day and holding it overnight …brilliant….
    got any other awesome ideas how to go from 12k to 0 fast?

  • timsykes

    John D, you miss the point. my COIN trade was a chart-based trade and it was a good one. No way of me knowing the financing news would come during my little slice of ownership time. 6-8 times out of 10, i would’ve made mo0ney so the key is just repeating these trades over and over and cutting losses quickly, which i did.

    i’m so sick of idiots like you who don’t understand how to trade smallcaps. not saying my strategy is the best but its always worked for me and i think it’ll work for others too, especially if they can learn from my mistakes.

    as for going form 12k to 0 fast—uhhhhh after 3 months of doing this, i’m up 25%, what don’t u understand about cutting losses quickly?

  • JohnD

    Aha..soon there will be nothing left for you to cut your losses. Like I’ve been saying – you could have only done it during the bubble. It won’t happen again. Unfortunately, you are doing all this just to make money from all your advertisements, book, DVD, and other stuff, but you keep on saying you are teaching others.

    You don’t give a crap about people who will actually follow you and lose all their money “learning from your mistakes”.
    Even calling COIN a breakout was funny. At least learn how to read a chart.

  • http://humpanddump.wordpress.com/2008/02/13/february-13-review/ February 13: Review « hump and dump.

    [...] comments about COIN here and here: “COIN is not a perfect breakout, but it

  • timsykes

    Done what during the bubble? Do you not realize I made my second million in 2001, 2002, 2003, 2004 and 2005 with this exact strategy? You haters have really gotta learn to do some research, you just shoot yourselves in the foot with your assumptions. And of course I’m doing all this to make money, but the best way for me to make money is if my readers do well. And its incredibly fun to rip idiots like you apart and cut through all the BS out there

    As for reading a chart, you’ve proven yourself to be blind and dumb, this was COIN’s 6th attempt to break $10.50–it was the only one that held. Solid chart to buy into.

  • http://www.islandtimegrill.com Evan

    “SICK BURN!!”…

    …would be the comment of a 13 year old boy after reading Tim’s retorts.

    I just hope John D sticks around if and when you reach your goal- it’s easy to jeer at the beginning of something great.

  • http://www.stockrake.com/what-worked-today-2132008~2008~02.html What Worked Today 2132008 | Trading the stock market everyday

    [...] close, but COIN dropped in the AH by 11% on what appears to be low volume imo for this low floater. JohnD over at Tim Sykes site is arguing that COIN didn’t display a breakout on the daily chart today. I disagree and is a [...]

  • http://www.stockrake.com StockRake

    Got into COIN today as well. Still hung on regardless of AH action. However, I posted a chart and want to know how you don’t think today displayed a breakout on the daily chart JohnD. What didn’t qualify for a breakout?

    Chart posted here:
    http://www.stockrake.com/what-worked-today-2132008~2008~02.html

  • leo00o83

    I know this is way out of your price range, but PBR is at the price of a triple top or a breakout over 120. They’re reporting on the 29th this month. I’m bearish pre-earnings.

  • Brian D

    Lovin’ the gap ups TSTR, and JDSU have been smittin’ with me big time and I’m actually starting to blush like a 12 year old school girl.

  • stan

    heres what i learned from tim about cutting losses early. people trade smallcaps because they hope on huge gains (whether it be a long or short sell). they ae so volitile that you should leave at the first sign of things going wrong because its a waste of time to wait (sometimes days if not ever) for things to get back to par when you could be doing better thngs with your money. ive tried it and you just miss out on opportunities to hit the home runs. bailing out on small losses is worth it when u finally score big.

    last Jan i did petty well, but I only had 3 or 4 awesome trades compared to about 8 or so duds. let me tell you im glad i bailed out on those bad trades or else id still be holding onto them to break even. but i gave up on them and went up huge on my sucessful picks.

  • http://www.test.timothysykes.com/2008/02/13/i-have-the-dark-gift-why-im-better-at-shorting-than-buying/ Timothy Sykes – Stock Trader, Author, Entrepreneur » Blog Archive » I Have The Dark Gift: Why I’m Better At Shorting Than Buying

    [...] posting some potential plays and declaring I

  • S Adams

    I think that coin filing is a reiteration of the one that had on Jan 28th. Old news. I bet it zips back to 10.75 in no time. It fell to 9.35 ah but closed at 10. I wanted to buy some but it is not marginable at fargan Schwab.

  • Jonathan Pliszka

    Hi Tim,

    What do you think of OXFD? Time to short…even though you can’t short under 3, what would you do?

  • laki kawatan

    Heres a 300%er for you I played this a few times for some serious change/// 20 mil in sales to be delivered next 9 months and lots of adds on sports channels also qvc // next 10Q on or about your b/d // spng.ob deep deep in .02 land
    congrats for being a bull so am i ] :

  • YoungGunz

    yeah sux…got out at 6.46 entered at 6.13 -109 after comish

  • djsdream

    Shows you are human…. Finally got your book from Amazon. I started reading this A.M. . What a day yesterday for shorts….wow…my wife and I cheer for you Tim….

  • Getshorty

    Under 6.40 now, looks like short cover fest may be over

  • Getshorty

    Just read the Motley Fool article, no news, just recapping old info, incredible how hype works….

  • Getshorty

    Just read the Motley Fool article, no news, just recapping old info, incredible how hype works

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

    actually only a $630 total loss for me, not bad, gotta love this stock, i hope it goes even more

  • HopeSolo

    This thing is stuck in the 6.40 area, unable to break either way, smart exit anyways Tim, check back in on it later on. By the way, I just watched you on Cavuto yesterday you definitely held your own, props on that. I like Neil, he’s one of the better mainstream finance guys imo but you didn’t let him take you down, good work.

  • avoigt_2000

    shorted FUN 1000 @ 9.99

  • gman83

    Another 500+ loss

  • Reaper

    ARNA $108 profit for me. Never would’ve held o/n once it went green.

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

    good reaper!

  • http://www.galaday.com daze629

    $150 loss, got out before market closed yesterday.

  • be-the-ball

    lost $20 yesterday when i scratched it for basically even

  • be-the-ball

    don’t compare your %s tim, its bs math with how small your account is.

    You could be down 50% this year and argue that it pales in comparison to your 229% last year but you would be flat on a $ basis.

    You were up $x last year and are down $x this year

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

    thats the dumbest shit i’ve ever heard BTB, of course % matters, a 1% loss and 49593949% gain are not in the same league…my god u poor people say the stupid things sometimes…of course i’m not happy that most of my trades are losses, but in the end its barely a scratch on my overall account

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

    great cover on ARNA,s houlda had balls and flipped the position too, another TIMalert buy to cover that is a great buy alert LOL

  • bruce.felix

    So, I’ve lost my a$$ lately. Feeling pretty upset and thinking of bagging the day trading thing. Is the market just weird right now? Very frustrating.

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

    yes it is tough now, but as long as u keep losses small, it doesnt really matter

  • be-the-ball

    ok dipshit, if you end up down 50% this year, tout how small that is compared to your 200% rise last year, and then explain to me how that pays the bills when you will be flat on a dollar basis!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • be-the-ball

    you really mean to tell me that 200% on $1,000 = $2000

    is less significant that a 5% loss on $10,000 = $2000

    my point was you have to discuss BOTH, you jerkoff. I did nothing to deserve you being a total fucking prick to me.

    its not my fault your trades aren’t working, don’t take it out on your subscribers!

  • be-the-ball

    sorry, i was so pissed off at how Tim treated my response that my math is totally off on the last post,

    but anyone with a brain knows what my point was.

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

    haha calm down, just saying being down $2k on $42k isnt that bad and can be made back on 1 good trade

  • swamysankaran

    Is anybody buying or shorting anything?. Let us have some useful discussion.

  • Reaper

    swamy: one word. No.

  • swamysankaran

    I am watching SFLY and TSYS to buy these had recent earning momementum. What do you guys think?

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