Just Who The Hell Do I Think I Am And Why Should You Care?
It’s astounding how many lazy people refuse to click the ABOUT tab on this site when they want to know more about me. Instead I get anywhere from one to three dozen daily emails asking me—since I have an answer every email policy, I’m beyond tired of this. Guys, chicos, if you want to know how I got started, what kinds of stocks I trade, how I made so much $ so quickly, my life is an open book—literally–An American Hedge Fund. Hopefully this post can save me a few emails so here’s a quick rundown of my journey and how I’m gonna help you:
-My obsession to become the best tennis player led to a career-ending injury senior year of high school in 1999. Since I’d already gotten in to college early and the doctors orders were to rest, I had nothing to do so my parents gave me control of my $12,415 in Bar Mitzvah gift money to play around with and I opened a discount online brokerage account.
-My parents thought I’d lose everything, but after concluding all the most popular stocks were too expensive / random for me, I became a penny stock day trader and turned my little account into $2 million by the end of 2004 (no leverage used). The first $1 million was pretty much all buying breakouts (I focused on chart patterns, little did I know why the charts were so perfect), the second $1 million was pretty much all short selling (when I discovered their charts were perfect for a reason, manipulation!). (Trades, strategies used and lessons learned are all detailed in my instructional DVD PennyStocking)
-Due to my success, friends and relatives wanted me to manage their money and since I’d always simply worked from my dorm and living room part-time between classes, I figured I could make millions more if I setup a hedge fund and turned this trading hobby into a full-time business. And, I also wanted to reduce my personal exposure just in case it turned out I wasn’t as smart as I thought I was (my parents made me put $200k away in CDs just in case)
-Despite the bull market, 2003-2006, I continued opportunistically short selling (focused on THIS pattern) earning another few hundred thousand in profits, becoming the top ranked short bias hedge fund (Barclays) by averaging 20%+ per year (next closest fund had -2% annual returns!) and my little fund grew to $3.2 million, with my stake accounting for half of fund assets.
-Wanting to grow my fund /getting too greedy / tired of “small annual profits”, I ignored my trading rules, investing 10% of my fund into one of my friend father’s businesses, CYGT, which appeared to be the next Ticketmaster (having contracts with Universal Studios, AAA, AOL, Harrah’s, Expedia Six Flags, Hershey…). Long story (told HERE)…the company was not all it was cracked up to be and since I’d naively added to the position, it was the sole reason for my fund’s 35% loss from 2006 to 2007 (painful painful lesson, but made me an infinitely better teacher, more devoted to my core trading strategy, wiser, more conservative and cynical).
-Just as CYGT was killing my hedge fund, years of trying to gain exposure paid off as I was featured in dozens of media outlets—all for nothing since I was already stuck in CYGT! Funny thing is when some turned on me mistakenly concluding the public spotlight had hurt my trading, I began to understand what what a joke the media was, especially considering I sent them my book detailing how I was stuck in CYGT!
-But media got me a starring role in the TV show Wall Street Warriors that became a hit, inspiring tens of thousands of people to contact me wanting to know more about stock trading, hedge funds and basically how they could get rich too.
-Considering my wealth, losses and media exposure stemmed DIRECTLY from the lack of accurate available information about penny stocks, stock trading and hedge funds, I smelled opportunity in not only teaching people how I trade, but in detailing all the manipulative forces at work in these niches—the companies themselves, the media, ANALysts, promoters etc. And that’s where my book, DVD, speaking, publishing company BullShip Press, LLC and this blog came from (one door closes, another one opens basically describes my life which is why I have no problem calling myself the Forrest Gump of finance)
That’s why I went back to my original $12k–not because I lost everything (I’ll be posting detailed audits on the new website)–but because I’m determined to show everyone that with these strategies, it’s possible to turn thousands into million, over time, by using your small size (anything under $10 million is smal on Wall Street1) and all the industry BS to your advantage…and, most importantly, without the use of leverage.
To the people who mistakenly believe I’m a failed trader, ego-driven, trading against the stocks I write about, am lying about whatever, I don’t even know all the conspiracy theories anymore—you’re wrong, sure, there’s plenty of ways I can make a few extra grand, maybe even a few extra hundred grand, but I’ve got much bigger ambitions—I’m gonna open this lying cheating stuffy boring industry up to everyone…because it’s not only fun, it’s profitable, either on a full-tie or part-time basis, whatever works for you, whatever suits your personality best.
The key to doing that is being brutally honest—mainly because nobody else in this industry is willing to be. I’m not here to make friends nor do I have to be some BSing always-polite marketer—I don’t care if I sell any more products, thanks to motivation drawn from all the bastards who are anti-transparency, anti-exposing all the BS, etc, this is my mission in life—and if successful, I’ll create other millionaire traders (how easy would marketing be then!), especially because as you’ll hear me admit again and again, I’m not even that great a trader.
In this niche, stocks do not move randomly, they form definitive patterns from which you can profit–exemplified by my mistake-riddled yet market dominating 21% first quarter performance. Once you understand the underlying variables, there’s soooo many angles from which you can play these stocks, god damn, it’s beautiful!
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Sept 4 | COIN | $5.70 | $6.21 | $745 |
| Sept 3 | COIN | $6.49 | $6.30 | $305 |
| Sept 3 | COINW | $2.75 | $2.85 | $180 |
| Sept 2 | TAYD | $7.51 | $8.13 | $545 |
| Aug 18 | FOUR | $2.80 | $2.66 | $342 |
| Aug 14 | APII | $2.66 | $3.30 | $1261 |
| Aug 12 | APII | $3.25 | $3.40 | $285 |
| Aug 7 | NOBL | $5.02 | $5.49 | $680 |
Total: $26,508 (
114%)
1timsykes
April 21st, 2008 at 2:00 pm
EDEN short looking great, fading volume, big sell blocks coin in, always surprising how long these things hold up, especially this time, given that thestreet.com admitted their article was inaccurate
2Jason
April 21st, 2008 at 2:20 pm
Thank you for this great post - it’s very inspiring.
3InvestorsLive
April 21st, 2008 at 2:20 pm
EDEN such low volume I don’t anticipate any big moves either way… all you need is one big seller to become inpatient and your at 1.75
4timsykes
April 21st, 2008 at 2:26 pm
yup eden is low volume, as it should be, buuuut as it fades gradually all the idiots who bought thanks to the inaccurate article should start to think twice, maybe even do a little research (oh the horror!)…and come to only one conclusion: sell before it’s too late
5Roderic
April 21st, 2008 at 2:27 pm
Tim u think it’s still ok to get in EDEN here?
6timsykes
April 21st, 2008 at 2:36 pm
i dont think its too late on EDEN but i think it could also spike, thats why i didnt take a full position.
7Dan-O
April 21st, 2008 at 2:50 pm
Tim,
The price action on EDEN is so weird (lots of up candles on different levels during the day view), is that do to the pre and post market action?
8timsykes
April 21st, 2008 at 2:56 pm
candles are meaningless here, its all about the gradual fade, punctured by brief spikes…if spikes lessen, fade strengthens, u get possible panic taking out stop losses below $2…ideally
9bryan
April 21st, 2008 at 3:18 pm
Im in with eden also at 2.17 whats your target on this is this one to hold over night?
Another question my colleague at work wants to know if there is any good free stock programs that show all the buying and selling transactions etc….he has etrade is there one on there?
10bryan
April 21st, 2008 at 3:19 pm
also, does it look like KOG is gonna take another small dump? i remeneber it was a pain last time i dont know if i wanna do it all over again
11timsykes
April 21st, 2008 at 3:27 pm
i dont use price targets, but read my comments an du see hwat i expect to happen.
no good free programs, if your friend cant afford 50-100/month he should be in the arkets at all
also read my comments on kog, its not a short
12timsykes
April 21st, 2008 at 3:39 pm
LOL, 49k Sell block on EDEN, this could get fun
13bryan
April 21st, 2008 at 3:43 pm
Tim maybe in an upcoming lesson can you explain how to read the software for us newbies and what everything means bc it is very intimidating but it is an obviouse edge and I def need to know how to use it towards my advantage. Ive been doing all this without the software I start on the 10th and am up %16 so no telling if i can enhance it even more. thanks man
14Jason
April 21st, 2008 at 3:45 pm
I second bryan’s request - can you teach us to read these software?
15monkiman
April 21st, 2008 at 3:59 pm
got into EDEN late since I also saw a big seller@ 2.09, hopefully it goes down to 1.90.
16timsykes
April 21st, 2008 at 4:01 pm
excellent close on EDEN, odds extremely high it’ll take out $2, ideally taking out stop losses to create some panic down to $1.80ish
17KP
April 21st, 2008 at 4:03 pm
just covered EDEN @ 2.05.. nice .45 profit. Thanks Tim
18monkiman
April 21st, 2008 at 4:21 pm
so your telling me there is a 1 in a million chance it will hit 180ish…. I’ll take it. what do you think of PDO?? when will this one be Ideal?? or not Ideal at all????
19bryan
April 21st, 2008 at 4:30 pm
my guess he will say since its in Oil with oil prices way up it will be hard to tell but i was jus about to ask the same question it looks ripe off sideways action i dunno if waiting till it closed negative would be too late? what ya think timmay
20timsykes
April 21st, 2008 at 4:31 pm
i’d say 2 iin 3 shot its hits $1.80ish tomorrow.
PDO will be ideal when it fits my supernova pattern:
http://www.timothysykes.com/dvd/
21bryan
April 21st, 2008 at 4:33 pm
TIM CXSP you thing it will still run is this even on your radar if so what do we need to look at variable wise? it is good news but u know hoew pharmy companies roll…
22Goose
April 21st, 2008 at 4:40 pm
What do you use to see buyer’s and seller’s blocks?
23timsykes
April 21st, 2008 at 4:53 pm
brya i can’t answer your questions, they’re really just too dumb. read my book/dvd and then come back here…seriously, sorry, i just dont have the patience
goose its called level 2, i’m working on a post about it
24bryan
April 21st, 2008 at 4:57 pm
iight then
25Joseph
April 21st, 2008 at 4:59 pm
hahahaaaaaa Ouch!
26Margie
April 21st, 2008 at 5:13 pm
Tim,
I cashed out half of my V today at $72, I think it has extended little too long and since I bought it at IPO price of $44. It has been a month and I was no longer restricted to trade from today. NFLX short positing paid wonderful after market close. Though it might go down further, I was happy to close the position and cash out at $34. I went long in FEED today after watching it for first hour of trading and staying overnight as it did not show any weakness all day. But watching FEED and TIGR like a hawk to close my position quickly on FEED and to initiate a short position as soon as the time is right. The only fear I have is, if it spikes before fall down, there might not be shares available to short, just like TIGR shares today when it traded around $12-$13 range. Tim, thank you for your PUMP and DUMP article on FEED.
27bryan
April 21st, 2008 at 5:14 pm
That was funny we are glad im not Nigel and write a 15 paragraph response to it. I have learned a lot from him and i didnt think any question especially that one is stupid but this isnt my forum and I dont answer the thousands of questions I would be fed up with every question too. But u guys def soak up all this advice as u know its good stuff lemme go try and find my balls now
28timsykes
April 21st, 2008 at 5:16 pm
DONT SHORT FEED, YES ITS PLAYING THE CAPITAL RAISING GAME BUT ITS ALSO A PICTURE PERFECT MOMENTUM PLAY, COULD EASILY RUN TO THE 20S OR 30S. WHEN A STOCK RUNS 7+ DAYS, THERE’S NO TELLING WHEN IT ENDS, IT’S NOT THE TYPICAL 1-2-3 PUMP AND DUMP
yeah bryan dont take offense, i just created these products for a purpose, the blog is meant to expand upon them
29Joseph
April 21st, 2008 at 5:19 pm
CXSP come on… just look at the volume man. I’m a newbie too but you don’t want to mess with something that illiquid. That’s just me though, you do what’s good for you.
30InvestorsLive
April 21st, 2008 at 5:39 pm
FEED will hit $20 before its a good short IMO
31Matt
April 21st, 2008 at 9:53 pm
Wow - EDEN’s stock price was $370+ when it IPO’d around 2000. I thought I had it bad when my old company’s stock went from $40 down to $7 (LCRY).
32Larry
May 19th, 2008 at 8:26 pm
hi Tim,
your strategy is interesting to me because it would seem that the net effect of exposing the market mechanics of penny stocks would be making this market more efficient, thereby removing the possibility of easy money, making its fluctuations as “random” as more well-capitalized and better listed companies.