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How My TIMalert Subscribers & I Made Thousands Of Dollars In Trading Profits On Eastman Kodak (EK) Today

Posted by Timothy Sykes on Mon 16th of Mar, 2009 05:14:38 PM

Mid-day today, TIMalert subscribers weren sent this alert:

Shorted 3000 EK at $3.34…not a great entry, but it took out the day low of $3.40 and it cant even bounce…this one is up on no news, just overall market related move, support at $3.13…after that maybe even fill the gap at $2.80…this is a failing company, great to short into its spike!

…and as PennyStocking DVD students know, this is a perfect, perfect chart setup, and the victory was all but assured–helped a bit by the overall market fading–when it took out perfect perfect sideways price action right at my short of $3.34, a few hours after my short (plenty of liquidity, shares to short & time to get in!)

ek1 How My TIMalert Subscribers & I Made Thousands Of Dollars In Trading Profits On Eastman Kodak (EK) Today

ek intraday1 How My TIMalert Subscribers & I Made Thousands Of Dollars In Trading Profits On Eastman Kodak (EK) Today

I’m currently holding overnight, fully expecting a morning tank to the $3-#.10 range…if it takes out $3.10 support, possible morning panic to fill the gap at $2.80…and of course my TIMalert subscribers are banking, some already jumpy enough to have taken profits & pay for several months’ subscription!

+660.00 unrealized on EK.
-tbohen

$210 profit .. followed your alert.. thanks
-kelvin

Out EK … +$206
-Reaper

Covered EK @ 3.27… +$120
-E.

covered EK at 3.27. made $60.
-dreagan

FYI A few more profitable TIMalert subscribers didn’t want me posting their gains..

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  • tbohen
    Missed the fricken morning drop, ended up with half the profit REALIZED. My bad...

    +$330.00

    http://timbo.cmsinter.net/?p=1467
  • of course i covered EK, for 5% gains, as timalert subscribers know:

    http://www.timalerts.com
  • shedivy
    right you are

    i do a lot of this sorta thing, shorted lvs friday, shoulda held longer since i anticipated the dow retracing

    but i thought i'd give ya some grief about ek anyway

    cause yer so damn good

    but you havent covered ek yet? hey, it could tank at the close, but it's not looking like the dow is going anwhere today

    really enjoy livestock, no more private tutoring ok.......

    i know, i need a life

    looks like FNET could take a fall

    BTW, are you sweating the uptick rule return? i'm not, forces me to let the stock come to me, though i have done well hitting the bid too

    and they're talking about ordinary income? wow, that would suck, but still not a deal breaker

    we need to communicate to someone that shorting is a reality check that actually saves more dumbies from getting hosed by their own irrational exuberance

    regards

    david
  • EK was up 50%+ in 2 days based on speculation, might be a real company, but the pattern fit perfectly and it was nice to trade a liquid easy to borrow name for once
  • shedivy
    your tagline says 'spec stocks only'

    ek is growing revs of late, has one of the most recognizable brands in the world and some interesting new products and economies of scope, not to mention a stranglehold on silver-silver halide film

    they're trading at half cash and below net

    agree they got caught with pants down during the digital camera revolution, but they seem to have weathered the storm, better than polaroid for sure

    they took the opportunity during this recession to take some writedowns

    with over 9b in annual sales and over 97% inst ownership, this isnt speculative, nor likely to die in my lifetime.....unless management boosts their salaries(sheesh, they are raping this thing)

    but this isnt what you do man, imo

    this is a good case of everything is so low-priced so you have to check fundamentals to determine 'what's real and what's memorex'
  • C is not a supernova, its a distressed company bounce, i dont play that crap
  • Moishe
    Hey timmy, how can i play the supernova at C?
  • newtraderphd
    Your prediction proved correct, well done! Timothy, I'm impressed! Thanks for guiding me to profits!
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