Sent to TIMalert subscribers early this morning so they could trade and be prepared instead of the wannabe idiot day traders who come in each day with no plan whatsoever and expect to make $, fon’t and then lie about it on Elitetrader to protect their pathetic excuse for self-confidence while crying themselves to sleep each night and praying they can make back the $ they lost so they don’t have to file bankruptcy by year end:
After my single best week since I started TIM last November and TIMalerts in June—a 10%+, or $4,500+ week–there just aren’t many new plays this week….the way to make big returns, like my 250% return in 2008 is to trade ONLY when there are ideal plays, not to force plays to fit into your schedule/expectations like most traders/newsletters do. That’s why I can say with a great deal of confidence most traders/newsletters/gurus are complete idiots–the only fitting description for “a profession” in which 90-95% of participants lose and lie about it to make themselves feel better/sell advice–and to help solve that all too common problem I encourage everyone to check out my instructional trading DVDs as they’ve been known to cure trading idiocy. (this statement has not been evaluated by the FDA or the SEC, results may vary)
That said, there’s still a few good plays from last week worth watching/trading:
PLD was down to $2 a few days ago, now $8…don’t ever count any stock out, too bad the rise is soooo gradual.
HSNI is still one of the worst retail plays out there, but its put in some decent bottoming action in the mid-$1s, I won’t short until its higher
CPD bottomed nicely/gradually off a base at $5.50 on Friday…maybe even a buy if we can get some volume/spike past $7, but considering how much volume faded, I’m leaning towards shorting it on any break of that support.
CPY may have shown some strength on Friday afternoon, but its still just the first down day in the pattern, true support is $3.70…I’d love to see a big Monday morning spike to short into though too.
EXEL signed a big partnership with a big pharmaceutical company, solid fundamental news, learn the lessons detailed in my ShortStocking DVD, only short hype/manipulation
RMBS is coming up on massive resistance in the $15 range, still too boring though for me to seriously consider shorting until its right at resistance
Posted in Potential Plays