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The Latest TIMalert: Why I’m Short 2,000 Shares of Magna Entertainment Corp. (USA) (MECA)

Posted by Timothy Sykes on Wed 5th of Nov, 2008 01:46:38 PM

Now I’ve shorted some piece of crap companies in my life, but few compare to this turd. As I alerted TIMalert subscribers, I shorted this morning at $3.95

They own racetracks, a lot of ‘em and their recent runup:

meca1 The Latest TIMalert: Why Im Short 2,000 Shares of Magna Entertainment Corp. (USA) (MECA)

…could be attributed to anticipation over Maryland passing a bill for video slot machines…which did get passed this morning (funny, no buyers today, buy on rumor, sell on news?) which could be a nice revenue jump…in 2011 or 2012…and the problem is MECA probly won’t survive that long!

In boring but important SEC filing after filing, we see they’re desperately trying to get some extra time from their lenders, but the shit hits the fan on November 17th and December 1st aka this company is shockingly close to going under.

…and unfortunately they don’t have the cash, which hasn’t been helped by their latest real estate deal falling through yesterday.

And we might even attribute this runup to a surge in casino stocks, mainly due to a foreign government stepping in to save LVS (nobody likes racetracks, they’re full of degenerates and they smell bad!)

Most importantly, the chart has beautiful fading volume and lower sideways price action–perfect variables for a probable afternoon fade here from the $3.90 range…once it takes out $3.50, this thing could see $3 (my initial target) in a hurry and then it’ll be a question whether or not obvious stop losses at $3 will get taken out, bringing this sucker down to the $2 range…

But as happy as I am with my MECA short, I’m even happier that even though I completely screwed up by not shorting CROX–look at this chart pattern:

crox1 The Latest TIMalert: Why Im Short 2,000 Shares of Magna Entertainment Corp. (USA) (MECA)

…it’s perfect!…several TIMalert subscribers who have actually taken the time to learn my short selling strategy banked:

Also shorted CROX at 3.11 and covered at 2.77. Banked $340
-Michael Oh

YOOHOO !!!! CROX UNDER $3, thanks Tim, shorted 1000 shares at 3.04
-GS

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  • dvd
    johnny, no more replies? Must be too lazy to do research yourself. Just spamming other people's blog yourself. Hint to you: get the dvds. if you are cheap, then you can start your own penny stock blog and make money.
  • danny
    johnny boy. tim's subscription is on a monthly basis, at $30 a month, no long-term contracts. people can come and go as they like.
    if you are too poor to subscribe to see for yourself what this is, maybe you can start by being an affiliate yourself and help promote tim's products and earn some change. hahaha.
  • crox
    johnny, I can't believe you have a phd and are spitting shit and assumptions based on your shitty research. oops, sorry, you didn't do any research before posting those comments, did you? Go to timothysykesexposed.com/blog and you can see who is the guy making those videos and his articles about tim. he is just another marketer.
    sorry that your phd pride is not allowing you to do prpoer research, but instead causing you to jump to conclusions. i wonder how you yourself fare on your trading. if you have so much time to go to other people's site to post nasty remarks, why don't you spend the time doing your own research, and get another phd in trading and start making money instead of being a sorry ass accusing other people when all you are doing is helping promote their products.
  • younggunz
    that timexposed guy isn't Tim. He's some affiliate nut. He chats all the time in the subscriber chatroom and also on mogulus when Tim is live on the air. Its a marketing angle and yes it is annoying for those that hate all the get rich quick guru schemes that everyone is inundated with when they're just trying to search for legitimate resources for trading in the stock market.
  • crox
    johnnyvento, nobody is asking you to come to tim's web site, and nobody is asking for your comments here. have you read all of tim's blog posts, which are free on this site?
    it seems you are just jealous of others' success, because looking at the sorry state of your own trading blog, you sound like a newbie. but what do i know, i am just posting random comments like you are doing right now.
    oh sorry, i am mistaken, because you are a phd holder and must be super smart and cocky at everything.
  • PS if a subscriber is unhappy, gues wha he has the right to do, yup unsubscribe...wow, amazing how that works, huh?
  • vento, i'm about 2 seconds away form blocking your sorry ass, the only thing that matter is if i teach people to make $, and judging from my performance and the performance of others i'm succeeding. i can literally do and say whatever i want as long as i stick tot hat rule. welcome to the gutter bitch
  • All I want to know is, how many of the 800 subscribers are happy with the service, and how many are not
  • "We hate spam as much as you do. We will NEVER sell your info to any third-party or use your information to send unwanted SPAM messages."

    The fact that Tim keeps adroitly avoiding this situation is all that you need to know that he is a fucking spammer, avoid at all costs.
  • how do you know that GetShorty? I think tim is a good trader but I don't like all of this fake shit being posted, the timothysykesexposed.com is more than I can take, Tim is in on all of this of course, but he keeps saying that 'it isn't me' as if that is an adequate explanation... keep in mind he is advertising Beacon on his site now, that is some sorry shit
  • younggunz
    "anyone can make money on little moves consistentely."

    Wow you just helped Tim support his products with that quote...HAHA, Fag!
  • Timothysykes
    of course i covered MECa, i am impatient, but they were easy easy 10%ish profits, yet another TIMalerts win!

    http://www.timalerts.com
  • and whne will u idiots learn timothysykesexposed.com isnt me, he's just one of my affiliates, i like his ambition
  • aint me posting that crap, seriously i dont have time
  • nixadm
    You do post fake comments

    both of these posts are by you: http://finance.google.com/group/google.finance....

    I dont mind your site or what you do, but stop spamming forums/emails, etc.
  • YG, shuffles will be out soon, just cant find the the time right now

    Vento, i really dont have time to post fake comments, i dont give a fuck what people say or dont say, my focus is on research, trading, blogging and creating these new DVDs so theyre ready in 2 weeks!

    http://www.timothysykes.com/store
  • GetShorty
    Johnny, I have no clue if TimDaMan is telling the truth, but I know that at least one subscriber is playing with bit more than a million, he does not trade on Tim's every word, but uses Tim as one of his resources.
  • This site is degenerating into nothing but spam. First time (i.e. fake, or Tim himself) poster TimDaMan has humiliated himself by claiming that a 'heavy hitter client' is trading on Tim's every word. Here are the stats:

    When LVS broke 13.50 it had a low of day 12.26. That is $1.24 on an idealized entry/exit. In order to make 15k 'on the day' from 13.50 from a dollar move down, this 'client' would have had to trade 15,000 shares of LVS for a total of $202,500.

    And yet this poster stands uncorrected.

    This website is so full of shit now I can't stand it.
  • younggunz
    Yeah I am wondering when the top 5 get their ipod shuffles that you said Reebles gave you sponsorship money for.
  • Carlos
    Hey TIm, glad to give my testimonials, but where's my prize for being in the top of TimBills ??????
  • thats it crox, now u got it!
  • crox
    Attention subscribers, please remember that Tim's alerts are for entertainment purposes only. Please use your own judgement when making trades.

    Blame yourself if you followed the alerts and made a loss - Tim is right to call you names, because this is all for entertainment only. Hopefully you found it entertaining and exciting to lose some money in the market.

    But please give Tim all the credit if you profit from a stock on the shortlist after you did your own research and used your own judgement. After all, Tim earns his living through sales, and not through trading, so it won't hurt to keep all the positive testimonials coming.
  • i'd love to create an alternative to CNBC..email me
  • OptionsTrader
    Whats up Tim? What do you think of us starting a new network like CNBC where we cut out all of the bullshit and let people know how things really are... I think we could do really good and make bank doing it! What ya think?!
  • bassman52
    i missed out on MECA today, is it too late for TA subs who didnt get in today to short twm??
  • alexh
    GGP Seemed like a more solid short today.
  • shortit
    hit RZ, $5 break is big when we get it...looking to cover under $4 area...prolly gets to new 52wk low under $2 cuz its a turd...we shall see

    GL all
  • Jorge Morales
    Tim, in the radar: KERX
  • stock is acting perfectly, first down day, no reason to cover
  • lol, the day after obama is elected, you short meca .... funny.
  • TimDaMan
    Heavy hitter client shorted LVS on the 13.50 break as Tim suggested. 15K profit on the day. His account is too large to play low volume so he looks out for any pick Tim has on high volume stocks where one can do size.
  • LOL, why would i cover when the stock is acting os perfectly? i do research because its good to have evidence on my side
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