CHATROOM

Short Selling Penny Stocks: Decent Profits But The Mistakes Remain

April 11, 2008 at 9:30 pm
by timothysykes

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Late Wednesday, when I posted this article predicting a 25% drop in (PSTI), I thought it’d be over and done with by Thursday. But that move didn’t complete itself til today, my baaaaaaaaaaaaaad!

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Can’t believe I covered my short above $4, too much of a lil bitch to hold this sucka. Sure, hindsight is easy, but look at the eerily similar price action after the last spike…probly more downside Monday. How about this, I’ll just go on predicting, you guys handle the trading, deal? :)

Posted in Breakdowns, Decent Trades, DVD, Fess Up Time, Impatience, Short Selling, Supernovas

Tags: , , , , , ,

  • http://www.covestor.com/mbr/bnbien BenBien

    Tim, I’d like to start pennystocking after having read many of your recent articles on this site, but my brokerage will not approve me for a margin account. Do you have any tips or thoughts? I only have $6,000 in my account and I’m just a student, so they declined me when I applied for a margin account. Please let me know if I need to switch to your beloved ToS if I can get a margin account there. Thanks a lot.

    Regards,
    Ben

    P.S. I don’t plan to start shorting until I read more about the techniques and technicals behind it. I want to get better at calling these low’s and make some more money so I can buy your DVD and trade using your much more scientific method of calling spiking POS stocks.

  • http://www.covestor.com/mbr/bnbien BenBien

    Tim, I’d like to start pennystocking after having read many of your recent articles on this site, but my brokerage will not approve me for a margin account. Do you have any tips or thoughts? I only have $6,000 in my account and I’m just a student, so they declined me when I applied for a margin account. Please let me know if I need to switch to your beloved ToS if I can get a margin account there. Thanks a lot.

    Regards,
    Ben

    P.S. I don’t plan to start shorting until I read more about the techniques and technicals behind it. I want to get better at calling these low’s and make some more money so I can buy your DVD and trade using your much more scientific method of calling spiking POS stocks.

  • timsykes

    switch to TOS u should be able to have a margin account, ask them first

  • timsykes

    switch to TOS u should be able to have a margin account, ask them first

  • sonid

    deal man, covered at 3.70 for a nice 19% gain

  • sonid

    deal man, covered at 3.70 for a nice 19% gain

  • bsl113

    Still shorting this (PSTI) turkey!

  • bsl113

    Still shorting this (PSTI) turkey!

  • bsl113

    Here are some links to the clinical trial process. PTSI’s press release is about getting results in rats. You be the judge…

    http://www.fool.com/investing/high-growth/2007/02/28/drug-stock-abcs-part-1.aspx
    http://www.fool.com/investing/general/2007/03/01/know-your-drug-stock-abcs-part-2.aspx

  • bsl113

    Here are some links to the clinical trial process. PTSI’s press release is about getting results in rats. You be the judge…

    http://www.fool.com/investing/high-growth/2007/02/28/drug-stock-abcs-part-1.aspx
    http://www.fool.com/investing/general/2007/03/01/know-your-drug-stock-abcs-part-2.aspx

  • Fleeter

    Experience teaches us to be fearful. Dancing in the fire and all.

    Grand show for the week everyone. Thanks Tim, thanks guys. Goodnight.

  • Fleeter

    Experience teaches us to be fearful. Dancing in the fire and all.

    Grand show for the week everyone. Thanks Tim, thanks guys. Goodnight.

  • http://www.investorslive.com/chat.php InvestorsLive.com

    Nice play there Tim, so what.. u missed some gains.. but did you profit? yesssssss

  • http://www.investorslive.com/chat.php InvestorsLive.com

    Nice play there Tim, so what.. u missed some gains.. but did you profit? yesssssss

  • Mike T.

    That coma theory you had a few days back would have worked nice…

  • Mike T.

    That coma theory you had a few days back would have worked nice…

  • Joe

    Tim, what you should do is check how stocks move after you unwind your positions to see if on average it would have more profitable to hold them I think it would be.

  • Joe

    Tim, what you should do is check how stocks move after you unwind your positions to see if on average it would have more profitable to hold them I think it would be.

  • http://www.dinosaurtrader.blogspot.com Dinosaur Trader

    Catching the “fat middle” of a move isn’t a way to the poor house, anyway, nice trade.

    Anyway, there’s something missing from your poll about what people want to see on your new site… I think you know what I’m talking about.

    -DT

  • http://www.dinosaurtrader.blogspot.com Dinosaur Trader

    Catching the “fat middle” of a move isn’t a way to the poor house, anyway, nice trade.

    Anyway, there’s something missing from your poll about what people want to see on your new site… I think you know what I’m talking about.

    -DT

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

    DT, i’m a big believer in the fat middle, but sometimes, u just gotta say based on the chart and previous spikes, there’s a 99% likelihood of this thing going lower, lets risk it

    and whats missing form my poll?

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

    DT, i’m a big believer in the fat middle, but sometimes, u just gotta say based on the chart and previous spikes, there’s a 99% likelihood of this thing going lower, lets risk it

    and whats missing form my poll?

  • http://www.dinosaurtrader.blogspot.com Dinosaur Trader

    People want more links to the VO Timmay… they want more VO.

    The VO is like sex, drugs and rock and roll combined.

    -DT

  • http://www.dinosaurtrader.blogspot.com Dinosaur Trader

    People want more links to the VO Timmay… they want more VO.

    The VO is like sex, drugs and rock and roll combined.

    -DT

  • http://www.test.timothysykes.com/2008/05/01/april-review-a-solid-5-month-defines-the-life-of-a-pennystocker/ April Review: A Solid 5% Month Defines The Life Of A PennyStocker | TIM – Timothy Sykes

    [...] Even a profit can be full of mistakes [...]

  • http://www.test.timothysykes.com/2008/05/01/april-review-a-solid-5-month-defines-the-life-of-a-pennystocker/ April Review: A Solid 5% Month Defines The Life Of A PennyStocker | TIM – Timothy Sykes

    [...] Even a profit can be full of mistakes [...]

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