Two days ago I sent the following to TIMalert subscribers in the early morning:
Shorted 2500 CHINA at $3.77 In My Longterm Account…just under $4 resistance, goal is to cover under $3.25, stop loss above $4…full details on TIMalerts.com ina bit, but i want to get this out quick since this is a morning spike and it could really crack fast
My reasoning: as i said in my premarket watchlist, this stock squeezed a lot shorts after the first jump from the mid-$1s to the mid-$2s (i covered for small gain, but most shorts aren’t as scared as me)…now today its up 20%, third big up day in a row, tough to hold those kinds of gains and most importantly, volume is huuuuuuuge today meaning all the big buyers–those being momentum traders and those getting squeezed–might’ve just got in today, leaving less/none for the next few days…remember, this is a real company, nearly $400 million marketcap with tons and tons of bitter shareholders from the past few years…obvioulsy China is hot right now, so is the overall market, but any stutter step and this thing tanks 20-30% within a few days…I kept my position small just in case though since i prefer shorting into fades rather than spikes
Two days later, I took profits of $600 (I wimped out premarket yesterday at $3.52…before I knew the stock was downgraded by an ANALyst), the stock is down 20%:
…and TIMalert subscribers are $5,000+ richer:
covered 1000 china @ 3.23 for $400 even profit
-Aleung
covered short for profit of $409 after commissions
-S.G.
+$267 on CHINA, got in late but out at 3.39 pre-market
-Mike D.
+185 on CHINA. Thanks Tim!
-ASP
Probably dumb to cover CHINA but I got shit to do, covered @ 3.30 +$1050.00
-T. Bohen
I just covered CHINA today with a $500 profit. thanks!
-PC
when you guys dumped your shares I waited for the selling pressure to ease up and bought the bounce on CHINA, in @3.25, out @3.45.. yes, I have your dvd’s Tim and I know sometimes these stocks don’t bounce… anyways, +100.. Thanks Tim!
-Tryp
Tim, quick $250 profit shorting CHINA. # of TimTrades: 2 – TimTrades Profit: $1061. Yea baby. CW
-Chris W.
out of CHINA at 3.34. Nice $500 profit. Thanks Tim.
-dmitry
made 350 on shorting china. great short thank you
-craig c.
I posted this in the CHINA thread also, covered @ 3.19 for $180 profit.
covered @ 3.23 for a even & easy $252
-JKART
Made $175 this morning on CHINA, thanks Tim!!
-J.
Out at 3.30 on China, $50 dollar profit.
-Jeff
only $189 profit on CHINA. I took a smaller positin and had bad exit/entry.
-Bill
Covered CHINA at 3.19 for $180 profit! Thx tim
-ub7
in at 3.53 out at 3.34, easy 160
-drewpac
Covered 600 CHINA @ 3.45…$120 profit
-hiro
got out pre-market at 3.39, made 160
-josh n.
i got out again tim made 120 on CHINA
-scrillawill
You wanna know what I think now? Well too bad! If you’re reading this, you’re not a TIMalert subscriber so you’re not entitled to seeing my real-time takes on stocks in play…You gotta SIGN UP HERE to do that.
Posted in Good Trades