Remember my ridiculously cynical/accurate post on Zagg Inc. (ZAGG)? Well, over the next 2 days, the stock tanked 30%+, (check out the chart HERE)
TIMalert subscribers got the real-time trade alert first:
Shorted 2000 ZAGG at $6.33…this thing is just falling apart, I know I’m a little late, but if the reaction to these boring, skeletons-in-the-closet-type earnings is as bad as I think it is, we’ll take out support at $6 and have a huge freefall which will be ZAGG’s ultimate top…risk is this drop is just a few weak hands…we’ll see, I’ll play this one with a little added risk just because of all those skeletons which I’ll write about in detail later
And when the stock tanked from the low $6s to the mid $4s over the next 2 days, this is how they performed:
out of ZAGG +$122 had to leave maybe tomorrow we break through $6
-duckncover
Out of ZAGG @ 6.13 +$290.83…too bad I covered ZAGG too early. left 1200 on the table.
-bill
Covered ZAGG at $6.20 as well $75 profit on 500 shares.
-Adam N.
covered Zagg at $5.70 .. $430 profit…
-JSP
I myself covered at $6.20, partly because an analyst upgrade in the morning turned a potential morning tank into an afternoon tank (after that analyst’s clients all bought/held and because I ate something nasty here in China so I just went to sleep Friday afternoon (that’s why there was no Friday LiveStock)
Furthermore:
message board degenerates don’t understand why I could cover so fast or why I wasn’t even looking to cover below $5 even though I think this could drop 50%…they just don’t get it…over the past decade, I’ve learned to take high probability profits…when I think a stock is gonna drop 30-50%, I’m happy with 10-20% profits…when I think a stock is gonna breakout 50-100%, I’m extremely happy with 10-20%…that’s why I’m so successful, that’s why it doesn’t matter whether I trade 1 share or 1 million shares…all that matters is how right I am and over the past few years you can all see it’s about 70-80% of the time, allowing me profits even when I screw up (like covering too early on this one)
Ok, so $250ish in profits for me and $1,000 or so for TIMalert subscribers is pathetic, but just add it the $8,000+ we profited on a stock trade on ZAGG last time around…and then of course, there’s always the other side of every trade…
…when ZAGG dropped toooo quickly on low volume panic selling the next few days, I sent this to TIMalert subscribers:
Bought 2000 ZAGG at $4.54…yup, you read correctly, i think its a horrible company, but i also think this selling is panic selling on low volume…looking to flip this at $5+…might be fast
UPDATE: welcome to buying morning dips, theyre faaaast, u guys gotta learn to anticipate, this one was a gimme due to the low volume selling
….and less than 30 minutes later:
quick trade i know, but this was a buy into morning panic selling…i’m still very very negative on it longterm, but this was just an easy “gimme”…we now have a stable chatroom at http://www.timalerts.com/chatroom i suggest u all come in and there we can talk about stocks faaaaast!
TIMalert subscribers baaaaaanked, mainly because I under-estimated the upside (stock went all the way back to $5.50 thanks to a little luck involved since ZAGG issued a fluffy PR less than a minute after I bought…stock promoters are soooo predictable, they’ll do everything in their power to prevent implosion of their precious pump & dumps)
Made 300 on ZAGG in 4 mins thanks tim
-scrillawill
Up $600 in 5 minutes, thanks Tim!
-E.R.
See the stock chart below:
…and realize I bought right near the bottom by implementing a trading tactic I’ve used in the past when I covered my short position in SpongeTech Inc. (SPNG)…a tactic which I teach in my TIMtactics instructional DVD package that is comprised of 9 hours of instructional content and a 150 page instruction manual 43 advanced tactics (learn more about that DVD HERE or just trust me when I say you NEED to know these tactics to trade more profitably and purchase your copy HERE)
In fact, I want you guys to learn these special tactics sooooo badly that I’ll throw in 2 free months of my upcoming video watchlists (to be sent the night before each trading day) (this is a $150 value), but only if you purchase the TIMtactics instructional DVD package HERE in the next week ONLY.
