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Quit Your Whining aka Don’t Worry, Be Happy

Posted by timothysykes on Mon 19th of May, 2008 11:32:09 AM

happyface1 Quit Your Whining aka Dont Worry, Be Happy

Ask just about anyone how our economy is doing and you’re likely to hear one or more of the following:

We’re in a recession! The stock market is crashing! Oil’s never gonna stop going up, we’ll always need more! Housing’s collapsing so people won’t be able to pay off their debts! Wall Street is laying off drones by the thousands!

Here’s a suggestion: Shut up you whiny little bitches.

For far too long, you have been brainwashed by the headline-loving financial media circus. Ignore your petty fears and click the graphic below to see that for all our problems, all our worrying, our stock market is actually doing pretty well compared to other countries.

globalreturns 150x150 Quit Your Whining aka Dont Worry, Be Happy

(Courtesy of Bespoke)

My advice hasn’t changed at all since the last time too many concerned emails piled up in my inbox: learn PennyStocking, profit from one high probability pump and dump at a time—while focusing on learning from my mistakes and only shorting these pumped up stocks in the afternoon!!!—don’t buy individual stocks for the long-term as more than 50% of the go lower each year and keep a solid mix of dollars, euros, gold, US treasuries and Swiss Francs (for this specific combo, I have $75,000+ parked in superior performing PRPFX

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  • Mike_13th
    I Got 145k parked in CGMFX,been in it for 10 years now.
    I add to it every few months with daytrading profits.
    Sorry Tim this one blows away PRPFX,but whatever,right?
  • Evan
    In KYUS short $2.42 -apparently I'm holding over night. 250 shares so I can stand some painful/slow death waiting
  • Webster
    Out of FPP at 4.02 Nice $505 gain.

    I now have done only two trades that I have been able to get in on from TD Ameritrade. VRML and FPP

    $930 gain on the first and $505 on the second.

    Will be picking up your DVD Tim, even though I have learned alot just from the site. Thanks!
  • Al
    Tim, you mentioned how people trade even numbers at one time. Also it was a gut feeling and a high risk trade. Just got lucky. It was not a "TIM TEXTBOOK TRADE". It was gambling.
  • Webster
    Nice timing Al, I had been trying to cover my 2k shares at 4 and it popped right back up.
  • Nice Al, who the hell am i, u need to write a guest post!
  • Al
    Covered FPP @4.05 1600sh
  • RGIlles
    I got out KYUS @ 2.36 from 2.42 thought if it broke that 2.40 area it would tank. (read: didn't have the balls to hold for much longer)
  • RGIlles
    Not liking the breakdown though
  • RGIlles
    Here with you Evan
  • evan, as i posted in some comment waay a few hours back or in some post, i dunno anymore, KYUS broke down nicely, but has since found strength, not your typical afternoon fader, now it looks to be more of a longterm short, but only if u have the capital/pain tolerance...very disappointing breakdown, fellow spammer FORC turned out to be much better
  • Evan
    Have been waiting for an afternoon fade on KYUS- anyone else?
  • got webster and wes confused...wes, sorry you're long, if it can stick it out, it'll probly spike tomorrow morn, but it if drops big, it might not spike/spike wont get back...thats why i hate going long

    webster, congrats on the short, same thing as wes, but in reverse. looks like it could break down nicely here though
  • new post:

    http://www.timothysykes.com/2008/05/19/my-lates...

    Dan-O, why would you short after such a big drop already? short when it cracks or not all, never chase

    wes--i dunno, your short is look mighty good, as is Al's if he still has it

    rambone, yes, COIN is dying, pumpers doing a crappy job
  • sykeshater1
    Dan-O, come to the hamptons on Thursday, I have a few odd jobs for you to do if you want to pick up some loose change you unbelievable tool.
  • Rambone
    COIN earnings on Fri. Rev 236K on loss of 2.4 million.

    Those numbers rival the great XOM
  • jesseb
    FPP, I don't know how far it's going to drop today...but since it's a pretty gradual fade do you think going long on it again tomorrow, in the morning, might be a possible play?
  • Dan-O
    Yeah I was late, just covered @ 17.40
  • Stoquer1
    18.25 was the short entry. good luck though, huge support just below 17.00
  • wes
    JMotes you hurting like me? I feel we were on the same page being long on some of these plays. That sell off killed my daily PL
  • Dan-O
    Stoquer

    Short, I'm losing $$ right now
  • Dan-O
    Ha ha... Hater you are still so pathetic.
  • Webster
    Tim,

    I am in on FPP at 4.30 2k shares. Looks like it could break down further for a really nice gain. Or should I just take my profit?
  • Stoquer1
    Dan O is that shoet or long
  • sykeshater1
    Dan-O wants to stroke Sykes taint, some of his comments are disturbing
  • jesseb
    This fool is drinking some major haterade up in here :P
  • Dan-O
    DIE MUTHAFUKA DIE
  • Dan-O
    In PDO 16.68 you lovable bastard!
  • sykeshater1
    HATE HATE HATE!!!! Whats up fools??
  • look at these damn perfect afteroon fades!!!!

    PDO, RCH, FPP, CPSL

    ahhhhhhhhhhhhhhhhh kills me i can't participate!!! u guys better be in on some of these
  • cash
    Wow you are right there. Wonder why that is?
  • wes
    AHHH the markets having a big sell off
  • wes
    No i just pick entrys based on support and resistance and volume and price action.

    I try to get out whenever volume fades and price action turns in favor of the sellers. Just simple basics. I use MACD alot though.
  • cash
    Wes do you pick a certain % up or down to exit a postion and if so what are your %s?
  • wes
    Mark I doubt it makes a new intra-day low today. Its moving way more slowly in the afternoon as it usually does. However, im guessing it will continue its decline tomorrow and even gap lower. I'm holding overnight. I have a 2-3 day time horizon on this short.
  • cash
    Thank god I had to work a double last night and just got up cause I was going to make some dumb plays today. Thanks for the advice on only playing the afternoon fades. Of course I should have known that from your DVD.
  • Mark
    Wes, You're in KYUS too? How far down do you think it'll more than likely go in the short term? I may get back in. I'm trying to decide.
  • Mark
    The economy in my neighborhood (Dallas and east to Shreveport, LA) is booming.
  • wes
    yah 4.6 my bad. I'm holding this one overnight unless it tanks. I figure it will gap up again tomorrow. I bought in at 4.6 and it ran to 4.8 instantly, now finding some support at 4.6 so my entry seems to be ok for the time being.
  • sniper6
    Wes-

    I hope u mean 4.60 not 6.60
  • jesseb
    Yeah, I looked at FPP this morning right before the bell and was thinking, "man, I should go long on this" and then I went to the bathroom, did a couple other things, came back and it had hit 4.50.

    I said "wtf??" got in when it went back down to 4.09 or so - got out at 4.27 for a pathetic profit, but I had to run off to work...couldn't take the chance (eventhough now it's up almost 20 more cents). Pathetic profit with my tiny account :P

    Also I wanted to say - I've been saying for MONTHS that the recession panic is bullshit. I didn't see anyone spending less money or hurting real bad UNTIL they started saying "oh shit a recession!!".

    And what happens? The panic fuels itself...now, people are saving money and not buying shit, because they're so freaked out...even if they don't HAVE to be.
  • sniper6
    Wes-

    very, very ballsy on PEIX. Good luck!
  • wes
    Al - oil plays have a tendency to gap upwards again the following day due to their strength today. Path of least resistance.
  • Al
    I think $4.50 is going to be the high of the day for FPP which is also about a 50% increase for the day. Who's buying when the PPS is already up 50%? "even numbers"
  • wes
    shorted KYUS at 4.49 for afternoon fade.
  • sniper6
    CWSI= holy shit!
  • JMoates77
    wow, CWSI, incredible!
  • JMoates77
    Long 1000 Shares of CPSL @ 8.197/share.
  • sniper6
    A-

    well stated. A gold star for you. Just went long SATC, in @ $2.25 this morning.
  • YngvaiMalmsteve
    Yeah, Al, I canceled my FPP reserve order this morning when I started to see the uptrend. Now is a bad time to short this
  • JMoates77
    Take a look at FPP, PDO, and MXC's charts from 3 months to present. Really interesting to see the similarity.
  • wes
    Long PEIX at 6.60.
  • don't get me wrong, al does have a chance, could be a late morning fakeout breakout, but for me, thats never been a reliable enough pattern
  • JMoates77
    Al, where's the 'whites of their eyes' in that chart?!?! Cover now before you get burned.
  • Al, why o why would u do that? even though i was wrong to short in the morning, i at least had a clean thesis-the possibility of a quick morning reversal...didnt get that all u have now is a steady uptrend with higher highs...unless u can stand the pain, methinks you're gonna get squeezed
  • Al
    Just shorted FPP @4.37 1600sh
  • A
    Some of the biggest stocks that make up the DOW have the most beautiful charts I've ever seen.

    IBM, for example, just broke out of a LOOOONG TERM cup and handle on the weekly chart. The left side of the cup was in January 2002, right side of cup was middle of last year and handle breakout on strong volume was last month. 6 Year Cup and Handle!!! It doesn't get much more textbook in that.
  • aweosme jmoates, gotta long these suckers! look at CPSL, so beautful
  • JMoates77
    Long on FPP @ 4.16, 2000 shares
  • KYUS is green....
  • getshorty
    PDO and MXC HAve been running because of the oil runup, a breakdown caused by an eventual slowdodwn in the oilprices may be shortable..

    Ahh, still sitting in my hands since two mmore days to go to be able to trade again cause th patern day trading rule.....sucks..... and can exchabge is close......

    Back to study
  • exactly, i've been telling my dad, a financial planner, that if we held 11,700 on the dowm nothing else matters as its a perfect confirmation of the multi-year breakout...we take out dow 15k and we got to 20-25k, always runs faster than anyone expects, gonna be pump and dumps galore, really gotta play energy from the long side too
  • A
    Screw the media circus, CNBC, Fox Business News, etc. Any technical analyst worth their salt sees that the broader U.S. stock market is turning up and getting ready for a big run.

    Looking at the Dow Jones Index daily chart, upon a close above 13,132.46, a picture perfect cup and handle would be fully completed. William O'Neill says the cup and handle is the most common pattern before a big appreciation in a stock's price.

    A perfect double bottom has been put in on the weekly Dow Jones Industrial Index--testing long term support at the highs of the bubble from the spring of 2000 of 11,750.20.

    I think this is good for Pennystocking too as a rising tide lifts all ships. It will even lift the crippled ships (i.e. crappy penny stocks) offering up the best long and short opportunities in this arena.
  • chris
    GFET on the move might be good for a good pop!
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