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i tried shorting 3000 BCRX at 3.23 but apparently IB says I’m over the PDT, bleh!

May 1, 2009 at 2:37 pm
by timothysykes

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huuuuge resistance at 3.30, but apparently interactive brokers –they have 150,000 shares to short but Thinkorswim has none :( won’t let me “error: potential day trade”…no u idiots, i want to hold over the weekend! though u guys should know since it looks like it could be nicely weak the rest of the day today and either test the $3 level late today or have a probable gap down/morning panic monday, if NVAX-type price action is any indication when it gapped down 15% after closing right under technical support int he $2.45 range yesterday.

my guess is it trades down to the 2.7-2.80 level, but there is risk of a late friday afternoon short squeeze…kinda glad i won’t have to worry about this over the weekend, but hey, its a solid risk-reward trade idea so i throw it out to u guys, have a great weekend!

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  • bgw

    made 650 on BCRX on short since yesterday, covered at 3.44, shorted again 30 mins ago up 3%, still holding,

  • casey3115

    covered today at 3.5 from my 4.32 short on Tuesday. Solid return but dropped another $0.5 right after i covered. Could kick myself. First ever short sale and first ever Tim alerts move. So even though I left a lot on the table I still thank you TIm.

  • jamesdeantheone

    I shorted BCRX @ $4.40 on tuesday. Keeped my short and bought 545 @3.60 on Wed. night sold @ $4.20 made $300. still holding my short

  • casey3115

    Very nice

  • jamesdeantheone

    thanks man

  • casey3115

    Look at that huge spike in volume we had 1 minute ago. Biggest one today. Can someone shed some light on that for me?

  • HopeSolo

    LOL, shares available at Etrade. Not touching it, I don’t have the cahonas. FAIL.

  • adamandco

    BCRX shares avail @ etrade, going to wait closer to the mkt close to short

  • casey3115

    Squeeeeeeeze? or no?

  • HopeSolo

    adam, b/c if it drops below 3 you won’t be able to short at etrade, the fact that there is even shares is shocking, there can’t be many, if you really want to make a move I’d do it quickly, but this pup is gaining again.

  • casey3115

    Shorted 1000 shares at etrade at 3.29

  • adamandco

    it is amazing- I have found BCRX shares via etrade all week…limit order in

  • jerry1213

    shorted 500 at etrade but bad entry at 3.13

  • adamandco

    short @ 3.3

  • casey3115

    Really good resistance there at 3.30. Its been fighting with that for a while now.

  • casey3115

    Ummm. Nevermind.

  • adamandco

    casey, res @ 3.37 and 3.5

  • casey3115

    Ya i see the 3.5 but failing to see the 3.37. Be patient though. Been Tim alerts subscriber since monday :) Havent bought the video yet

  • be the ball

    Maybe its time to put BCRX on the banned list Tim. Little fucker doesn’t trade like a good penny stock should….

    none

  • HopeSolo

    Casey… hope you got out. There’s a reason they’re available on ETrade.

  • HopeSolo

    Let me revise my:

    HopeSolo – May 1st, 2009 at 3:05 pm

    LOL, shares available at Etrade. Not touching it, I don’t have the cahonas. FAIL.

    to read…

    Not touching it, my Cahonas are TOO BIG.

  • jerry1213

    This is my first short sell trade. what happen here.

  • adamandco

    casey, check out a chart I posted on chart.ly w/sup & res for BCRX http://chart.ly/akgfwy

  • be the ball

    jerry,

    fri aft short squeeze. risky to hold over the weekend due to headline risk. Joe Biden could get the swine flu over the weekend and the whole thing would go to the moon….for example

  • HopeSolo

    Jerry, if it’s your first short sell i feel really bad for you, but be careful. Holding over the weekend is very very risky, just look at DNDN last week. Not saying same will happen, it could even drop at the open, but buyer (to cover) beware.

  • jerry1213

    thanks for the tip guys

  • http://www.test.timothysykes.com timothysykes

    damn there are just a ton of shorts in this thing, all getting squeezed, sometimes not being able to make a trade saves $,

  • http://www.test.timothysykes.com timothysykes

    yah this stock is cursed, sorry for my intuition on this one, gonna go watch my DVDs and re-learnnnnn

  • http://www.test.timothysykes.com timothysykes

    although now at 3.80, the risk/reward is probly pretty good, IB still has me banned though LOL

  • lazydeveloper

    Love the wall of sellers. Anyone shorting into this squeeze? It is so tempting, but to painful to hold this over the weekend…

  • HopeSolo

    Yeah Tim, you should probably remove this guy from your watch list, he’s been the devil to you. Sooo glad i stayed on the sidelines! Although the chart looks VERY promising and I see why the alert was sent, I couldn’t short it when it was already 25% down on the day

  • HopeSolo

    LOL banned you? How could they, your account is greater than PDT, how could they do that?

  • HopeSolo

    Casey, did you cover?

  • echo1025

    Shorted 2k at 3.70 near the end of the day. I’ll hold till Monday. we shall see.

  • casey3115

    Nope thinking about shorting more here

  • cavtrav72

    shorted 3500 at 3.67…..trying to take advantage of the friday afternoon squeeze

  • http://www.test.timothysykes.com timothysykes

    i like the guys who entered late, ballsy but good odds…careful of continuation into monday squeeze..amazing how NVAX and SVA just sat and died like good little stocks, BCRX is a bad bad boy

    and Hopesolo, my IB account is only $14,200 (up from original $12,000) in a few weeks, my TOS account is solidly out of the PDT rule at $34kish

  • HopeSolo

    Gotcha, so did they ban you for violating PDT or for something else? Are you shut down for 90 days? That’d be a bummer.

  • http://www.test.timothysykes.com timothysykes

    i dont think i violated it, they just prevented me from trading today, who knows

  • SRT8U

    Tim- If you have over $25K in equity in your account, how are you getting a PDT warning?

    Also- If you want to make big dollars in your TIM account, buy $15K in PQ and enjoy the ride up next week.

  • parabol64

    Since these chats are much more lively than the one’s on the forum, let me use this opportunity to ask a question that has been asked before, although I have not seen the answer yet-
    I’m interested in buying one (just one for now) of Tim’s DVD. Which would would you recommend? Do I need to watch part1 to understand part deux?
    Do I need to watch RAW before I can understand either parts?
    Do any of the DVDs cover the basic such as how to research so eventually one can have his own stock watchlist and not rely on Tim’s?
    Any answers most welcome, and sorry for posting here.

  • http://www.test.timothysykes.com timothysykes

    srt8u, i have 2 accounts, read comment #37

    hey parabol64, timfundamentals outlines my daily research process, the websites and data i use and explains in 6 hours of detail how i find the stocks to trade…pennystocking part one is soooo basic, its sometimes painful, part deux simply outlines all the chart patterns i look for, hope this helps!

  • SRT8U

    Sorry, didnt see that post.

    Tim, I would like a second opinion on PQ and URE… I am 99.9% on PQ, but URE should be a great play next week based on my DD. I would like to see what you have to say.

    Thanks and have a nice weekend bro.

  • parabol64

    Thanks for your reply, Tim.
    I’m a bit confused now though; timfundamentals – is that the same as TimRaw?

    Do you suggest at minimum that I’d buy TimRaw and PennyStocking part Deux?
    Would that be a good start?

  • parabol64

    And one more thing, if you do purchase those two in conjunction is there a discount?

  • http://mcbowler.com mcbowler

    Thanks SRT8U for solid breakout on CENX. I was out of day trades so I have to hold until Monday.

  • dino

    SVA IS GOING RIGHT DOWN IM HOLDING TO 1.50

  • SRT8U

    no problem Mcbowler- keep in mind you can only do 3 day trades in a 5 day rolling period- it doesnt reset every five days. I found that out the hard way with my Zecco account (I only trade stocks under $1.00 and buy options with that account). Pretty lame! Good luck with CENX- check out PQ for next week. Will be a similar breakout, in 9 days my target price is $5.19.. great weekly chart.

  • SRT8U

    Also research BZ- I like it

  • http://www.test.timothysykes.com timothysykes

    parabol, timfundamentals are 2 different dvds, see the store for all your options:

    http://www.test.timothysykes.com/store

  • parabol64

    Ohhhhhhh, right.
    Stupidly I never scrolled down far enough to see it.
    So you don’t do any special offer for TIMfundamentals and pennystocking?

  • http://www.test.timothysykes.com timothysykes

    yes i can offer u a special deal for the combo, i’ll email u

  • be the ball

    Tim,

    is it just me, this is the only alert on the whole website?

  • http://www.test.timothysykes.com timothysykes

    we’re trying to fix the site, bear with us please!

  • be the ball

    ok, np, just wasn’t sure if it was me or everyone. thanks

  • BULL

    BTB – Did you get today’s alert? Because I did!!!

  • be the ball

    yes, bull, thanks.

    BLVI this mornings stockpreacher pump. i can’t get the symbol to work in IB. its a .10 stock

  • BULL

    That’s right. IB doesn’t have any company listed with that ticker.

  • wallie123

    Out of OHB at 3.03 small $70 loss. down almost 400 on the month now, but still up almost 900 in long term account.

  • http://www.test.timothysykes.com timothysykes

    if u guys wanna post comments on this post, thats cool, sorry again, this sucks

  • wallie123

    i wouldn’t touch OHB with a ten foot pole now that thing is too illiquid.