Oh yes, another good call with poor execution on my part and yet thanks to people finally beginning to understand the patterns which I trade, TIMalert subscribers did better than ever on this one:
Total net profits of $727
-T.B.
out of JSDA, profit of +$270.
-Reaper
just covered at .95….wish make more but $150 after commission..I am happy..
-JSP
Covered at .89 for $105 dollars profit.
-W.
just punched out of JSDA for a 15% gain (short), nice call Tim
-BGW
Those are the subscriber testimonials after I sent out this alert:
Shorted 3k JSDA at $1.01ish…after 20 minutes of trying to short at 1.18, 1.15, 1.12, 1.07, Interactive Brokers is the worst broker i have ever dealt with, more on that later…now this stock fits my 3-day pattern perfectly, its a true carcass of a company, yesterday it had the same pattern and rebounded, today methinks its out of juice…i’d like to cover in the .70s or .80 area…really pissed off i couldnt get my 5k short at 1.18 like i wanted, IB i’m coming for you! (but i did post on the TIMalerts website at 1.12 that i’d like to short it, so u guys need to check in more
Inspiring me to write this post about why I would short such a hyped up stocks like JSDA
And the chart did this:
I covered at 89 cents and yet there wasn’t any urgency to covering, I’m just a bad timer…once it took out multi-day support at 90 cents, the momentum traders got out and their getting out caused another predictable 10-15% drop…I screwed up my entry–actually added 1,000 shares to my position at 99 cents in another TIMalert, so I was short 4000 shares at an average of $1 and screwed up my exit and still made 10%, or $405 on a $4,000 investment.
That’s the beauty of this strategy, even if I screw up my entry and exit I still make 10% because the pattern is so right. If I do anything better, I can make 20, 30, even 40% in 1-2 days. Show me any other strategy with such predictability, I dare you!
This isn’t rocket science folks, when this pattern–which I outline extensively in PennyStocking Part Deux and of course in all my other DVDs too–shows up–that being a formerly high-flying but now crappy/failing company running out of cash, trying to stay in business & deal with thousands of bitter shareholders gets hyped up by some PR or newsletter magic, I try to short shares.
To determine my entry I use basic technical analysis and use the all-important sideways price action–detailed in my DVDs–to let me know my ideal entry points.
Learn the rules of this game, this simple simple game & ye shall be rewarded.
Posted in Breakdowns, Good Trades, Testimonials