Sykes’ Saturday Seven: March 15th, 2008 Edition

UPDATE: Company’s stock drops to $2, even bigger scars for those involved. Difficult, but scars are good.

You know how I always say a CEO will smile and tell you everything’s fine, even the day before they go bankrupt? Well, this week Bear Sterns liar / scum CEO proved my point on CNBC rather nicely, just 2 days before his ponzi scheme company needed a big ass bailout with their kindle stock dropping 47%.

liar

Learn this frontward and backward:

 NEVER TRUST ANYTHING A CEO SAYS
sʎɐs oǝɔ ɐ ƃuıɥʇʎuɐ ʇsnɹʇ ɹǝʌǝu
NEVER TRUST ANYTHING A CEO SAYS
sʎɐs oǝɔ ɐ ƃuıɥʇʎuɐ ʇsnɹʇ ɹǝʌǝu
NEVER TRUST ANYTHING A CEO SAYS
sʎɐs oǝɔ ɐ ƃuıɥʇʎuɐ ʇsnɹʇ ɹǝʌǝu

UPDATE: BSC buyout rumor: another 50% drop to $15 or bankruptcy (LOL)

Never pay for movies/DVDs again, check out all the cool FREE streaming movies available HERE. How is this not illegal?

Besides TheLion.com, another cool site filled with threads about microcrappers… awwwww yeahhhhh

The other day, I mentioned these trading education frauds, but I’m reposting the link HERE because you really MUST understand how much BS there is out there. Sooooooooo many people market the hell out of whatever it is they’re selling. Sometimes it’s hard not to believe them (my CYGT “investment”, cough, cough), but unless you’re given audits (by a reputable firm) that back everything up, don’t believe a word they say. Not in this business. Not in any business.

PS All my trades since 1999 are audited, I stand by my superior track record. Haters you got nothinnnnnnnnnn’

My buddy Chris Lahiji is holding his 1st annual microcrapper conference. I was supposed to speak there, but I opted instead to speak at some colleges, aka paying gigs. Tickets are limited, but if you’re not a poor college kid and you wanna go, hit me up and I’ll get you in free.

Don’t cry for Spitzer, the truth is he’s ridiculously loaded. He earns more in interest than his call girl is about to make thanks to his interest in her

8 things you def. didn’t know about Chinese food

Posted in Criminals, idiots, Link Love, Scandals

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  • http://tradingsplits.blogspot.com Dave

    tim,

    Do you think the FED will lower rates a whole point next week and send the market in rally mode?

    Dave
    http://tradingsplits.blogspot.com

  • Michael

    actually there are many more weird things about Chinese food.
    1. Monkey’s brain. yup, in various parts Canton China, restaurants use saw to open up a LIVING monkey’s skull and pour hot boiling soup on the brain, cooking the brain and killing the monkey instantaneously . ( the whole process is done infront of the customer to arouse appetite -_-’ ) then you scoop up the brain and soup and eat it i’s tofu.

    2. Bear’s Paw. This is actually edible for me. i don’t know what the process is but you can search it on yahoo.

    want more?

  • Tony Ellis

    I’ve read and heard many times lately how what happened to TMA, Carlyle, BSC, etc… Isn’t based on investment reality but on a lack of confidence in them. Don’t Ponzi Schemes work well also as long as investors have confidence in them? Could our whole financial system be one giant kick ass ponzi scheme? God Bless Capitalism!

  • timsykes

    Who cares about the Fed, I’m not an investors, I’m a PennyStocker. Good or bad economy/stock market, I play microcrap hype plays whenever they come about. Let the financial system burn itself down for all I care, I hope there’s no more plays EVER–then I could finally take some time off. Doubt that’ll happen though so I’ll just keep stalking….

  • JJ

    i know you’re not a huge fan of it but you’re making my point for me about people needing to read Arthur Levitt’s book, “Take on the Street”. it’s POS CEO’s like this that hurt the average investor. there’s no honesty left in business. i hate to say it but the accounting firms are part of the problem. they are paid for non-auditing work that far exceeds the millions they are already being paid for their “independent” audits. a slight confict of interest wouldn’t you say? they’re not about to say the work they did for a company wasn’t accurate. certainly wouldn’t want to lose out on all the millions they’ll be paid next year should they give a negative report. they’re all corrupt and as you say CAN’T be trusted!

  • timsykes

    no need to read a whole book about not trust CEOs, just don’t do it. focus on learnings about stuff u can actually trust/profit from–chart pattttttttterrrrrrnnnnnsssssss

  • http://www.timothysykes.com timothysykes

    just sent my #1 pick for tomorrow to my superchrip subscribers!

    http://superchirp.com/timothysykes

  • akpirani

    good list tim!

  • wallie123

    going to get me some MIPI shares in the morning but probably only take another small position. These biotechs can gap up in your face. The real reason I am taking small positions is because i am fairly new to shorting. So i am taking baby steps. i have always been a buyer so i will be looking at CAST tomorrow too.

  • guido333

    wallie what broker are you with

  • scrillawill

    damn chat still down

  • jwallace1985

    What is the target exit price on CAST?

  • scrillawill

    everyone download skype at http://www.skype.com add me as a friend me and kaim have a chatroom up chating this morning my skype name is scrillawill add me as a friend i will get yall in our chat room tim subscribers

  • scrillawill

    soko ninja kennys pennies nolimit traderjoe dan ghost and everyone download skype we have a alternate chatroom today me and kaim opened so add scrillawill to your skype and i will get u in the chat

  • Toletem

    where is the chat..i can find it

  • http://www.timothysykes.com timothysykes

    holy hell, stop emailing asking where the chat is, i did a post saying it would be down, u guys gotta learn to read…we’re fixing it as it was the reason my site has been down so much…just use this comment section, 99% of the junk people say isnt worth listening to anyway

  • scrillawill

    toletem download skype

  • scrillawill

    we have another chat for u to join

  • scrillawill

    everyone download skype at http://www.skype.com add me as a friend me and kaim have a chatroom up chating this morning my skype name is scrillawill add me as a friend i will get yall in our chat room tim subscribers

  • scrillawill

    we are all in here chatting now add scrillawill i will get u in the chat just let me know ur a tim subscriber

  • Spit

    What’s with gnxo?

  • http://www.timothysykes.com timothysykes

    nice CAST morning spike, my girlfriend just made $200, any of u jump in?

  • presto

    Yes – in at 6.71

  • jimbod124

    Long CAST at $6.96 and out at $7.09 for a small $88 gain

  • AdamN

    Shorted JAZZ $3.75, I’m probably too early on this short and am about to get squeezed, but the price action looks to be pointing downwards this morning. Hopefully it will crack $3.60 soon.

  • wallie123

    MIPI first red day lets see if it can break 6. If not today on monday.

  • http://www.goarmy.com P90X

    in CAST @ 6.68 it might be the one to take me over PDT limit but i wont get greedy

  • scrillawill

    everyone download skype at http://www.skype.com add me as a friend me and kaim have a chatroom up chating this morning my skype name is scrillawill add me as a friend i will get yall in our chat room tim subscribers
    we are all in here chatting now add scrillawill i will get u in the chat just let me know ur a tim subscriber

  • KnightTrader

    In CAST at 6.71 and out at 7.09 = $173 gain. Thanks Tim.

  • bekifft

    Shorted MIPI yesterday at 6.84. Looking for it to really break thru 6 soon. Scary bioteches but it clearly looks like a good short.

  • scrillawill

    tim u owe me big time

  • bekifft

    Bought a small position of CAST at 7.10. Is this thing going to going anywhere after the morning spike? Timmay?

  • http://www.timothysykes.com timothysykes

    why would u buy after a 2-day runup and morning spike, sounds like a patterns with the lowest odds of success possible

  • bekifft

    cause I’m still a newbie, wanna-be trader apparently – tiny position though

  • Tony

    Yes I did Tim, actually. CAST was on my radar before your post due to your girlfriends Facebook post! I

  • asparmar

    AdamN nice call on JAZZ… latest news on JAZZ: Jazz Pharma says to halt development on three drug candidates in order to save cash; says focus will be on meeting interest payments on senior notes; will not explore development of sodium oxybate compound in other indications.

  • AdamN

    JAZZ still looking good here, broke $2.60

  • AdamN

    oops, meant JAZZ broke $3.60

  • scrillawill

    everyone download skype at http://www.skype.com add me as a friend me and kaim have a chatroom up chating this morning my skype name is scrillawill add me as a friend i will get yall in our chat room tim subscribers
    we are all in here chatting now add scrillawill i will get u in the chat just let me know ur a tim subscriber yea

  • http://www.PennyBandit.com PennyBandit

    I’m going long on GNXO. I’m a sucker and can’t resist…

  • AdamN

    NICE find asparmar, I may hold this JAZZ short over the weekend now, looks like I got a good entry.

  • milancole

    Short JAZZ at ~$3.75, covered at ~$3.55 for ~$300 in profits.

  • http://www.PennyBandit.com PennyBandit

    GXNO bid: $0.40 ask $200….huh?

  • http://www.PennyBandit.com PennyBandit

    oops, typo GNXO

  • asparmar

    Same here AdamN. Will probably hold over the weekend. I got it at 3.73. Thanks again!

  • http://www.goodevalue.com Reaper

    Good thing no great setups today, today is moving day! Woohoo for cross-region moves!

  • scrillawill

    made 1300 on TSTR subscribers on the chat r up 10000+

  • scrillawill

    everyone download skype at http://www.skype.com add me as a friend me and kaim have a chatroom up chating this morning my skype name is scrillawill add me as a friend i will get yall in our chat room tim subscribers
    we are all in here chatting now add scrillawill i will get u in the chat just let me know ur a tim subscriber wow

  • scrillawill

    everyone going banannas

  • ferrari

    short cast 6.90

  • http://www.PennyBandit.com PennyBandit

    GNXO – no liquidity. Can’t buy on a limit order, and ask is at $200 so I can’t buy on a market order either. Sucks.

  • SoBeGemini

    Tim, bought $CAST $6.75 avg. out at $7.07. Profit of +$600 in a few minutes at the open. Thx.

  • AdamN

    JAZZ beautiful fader, hitting lows near the close!

  • Alice

    WTH is “superchirp”, same as the watch list??

  • prognesubis

    Reaper, are you crossing the Wide Missouri?

  • AdamN

    Sold JAZZ short at $3.49. Had a solid profit of $500 and had to take it in order to stay disciplined.

  • AdamN

    Correction, covered my JAZZ short at $3.49 for a $500 profit.

  • http://www.PennyBandit.com PennyBandit

    I hope we get some insight from Tim on LFBG Monday. Big mover, but I’m not sure if I should go long on it or wait.

  • asparmar

    Covered JAZZ at 3.50 for $ 375 profit. Thanks Adam!

  • polarcup

    So stupid…bought 900 CAST @ 6.75 and had so many opportunities to sell. Sold 600 @ 7.00 at the end of mkt. Still holding 300 shs.

    i need to have more discipline…

    anyway, thanks TIM for the recommendation. just worried about holding over wkend. Realized profit of $150.

  • bassman52

    congrats to everybody making money today!! i am seriously gonna quit my job!

  • hirohyoto

    Darn Adam… missed out on a great trade… had to do my job today appraising accident damage =(

    At least ODP is looking downward… missed out on averaging up on it too.

    *Shrugs* can’t catch them all.

  • dino

    ZZ is going and going