CHATROOM

Covered 4000 EMGE at 3.20 on intraday panic

September 25, 2009 at 11:35 am by Timothy Sykes

Watch these 7 free video lessons on how I became a millionaire

Covered 4000 EMGE at 3.20 on intraday panic….huuuuuge $2500ish win, took a little pain, still have the shares today so i can reshort, just scared of any potential bounce, nice profit congrats to all those in this too!

Posted in Premium, TIMalerts

Tags:

  • be the ball

    wow, glad it worked out for you but that is not a game i am ever going to play.

    congrats!

  • ehrof

    my order isn’t executing!

  • ehrof

    out @ 3.20 for a $385 gain after commissions. This covers some earlier stupid losses and my dumb-luck loss on RTK! Thanks TIMMAY

  • ev4ztimalerts

    missed shorting at at 4.51 by 30 seconds, got 3.71 still short 600 shares nice find TIM!

  • jchahboune

    SVA fading and red on the day

  • ehrof

    Tim, you mentioned you still have the shares available for the day – how do you do that? I always have the TOSers put in a limit order so I don’t need to contact them, but now that order is cancelled because i used it!

  • TerranFirebat

    shorted pir at 3.80

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

    jchahborune, fuck SVA, this is the greatest gimme since GVBP and how many of u guys actually profited? c’mon post some damn profits people! plenty of time, thinkorswim had plenty of shares, u have NO excuses

  • BULL

    Scalp some $280ish after buy EMGE @ $3 and selling @ $3.10

  • jchahboune

    come on tim, SVA afternoon fade, you said you were looking for one….

    Disclosure: I am short 200 of SVA at 7.97

  • jchahboune

    lol i saw your comment after i wrote mine, honest.

  • be the ball

    “Tim said: u have NO excuses”

    timothysykes – September 15th, 2009 at 3:27 pm

    Yah tough lessons learned…gotta wait for the first down day or just miss out on the trade completely…

    ———————-
    How soon we forget… :-)

  • be the ball

    I couldn’t play this one anyway as no TOS account.

    But I am not sure you should beat up any of your subs that learned from your frst GVBP trade to not just short because there are shares, wait for the pattern…..

  • alexfalas

    Tim, I requested shares to reserve (3,000) at 7am EST with TOS, and at that time they told me there were none available.

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

    BTB, its a battle i deal with every day, get in too early or risk missing the boat, 3 big up days and a chance at a 50% collapse within minutes meant i went in early…held through $2,000ish losses too, but that why focusing on these true pump is so key.

    alex, u’re lying, or maybe TOS just doesnt like u, i requested at 7:15ish, lots of other people got shares up to 8am, great trade everyone!

  • alexfalas

    it’s the truth, it was a 7am EST. But I agree. I did sense that TOS replied way to quickly to my request so I don’t think they checked.

  • alexfalas

    It’s true about my request, but you’re probably right. I sensed TOS was too quick to respond so they may not have checked.

  • andreacanto

    no chance to short with Ameritrade…wonder when if one day I will be able to follow Tim suggestions….

  • be the ball

    Agree Tim, very hard. You yourself were sounding doubtful and wishing you had waited and then, boom, its a huge winner.

    In truth, GVBP only went against us for about 2 hours as well. But unfortunately it was 1 hour at the close and 1 hour at the open next day so not as easy to hold the paper losses overnight. If GVBP spikes from .5 to 1.18 and back to .35 all on the same day, we never lose money on it, more than likely…

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

    yah if i had it all figured out, i’d be running a $50mil+ hedge fund, just gotta risk some to make a lot…if it kept going up into the close, i’d have hedged with the hope of adding on monday

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

    and my 3.20 cover looks pretty bad with the stock at 2.8 now, high $1s are seriously possible, might reshort later

  • bassman52

    65 bucks, ok for late and sloppy trade. thanx T sizzle

  • preston

    andreacanto , yeah same here, they had shares but you cannot short OTC stocks there. It sucks but it is what it is.

  • TerranFirebat

    coveted pir 3.67

  • yjaber78

    Tim Which broker should I use since My E trade account never worked to excute any of your shorts.
    should I go with Thinkorswim or interactive brokers.

    Thanks

  • TerranFirebat

    lol could’ve had potentially $1500 profit ended up breaking even on the price action but still neg from the commisions.

    lesson learned: from now on when i get shares I’m taking 1.5x more than I need.

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

    damn 2.50ish now, amazing, u guys better tune into livestock today http://www.livestream.com/livestock

  • bassman52

    im a freakin moron i have NO patience 20 more mins it tanked! freakin A!

  • nltamas

    Made $339 on EMGE, shorted from $4.31 to $3.48 and $3.05 (second half). Thanks!

  • braderhart

    Bassman, I’ve had the same problem lately. I exited way too early on my last two trades and left thousands on the table. But like Time said yesterday, nobody ever went broke taking profits.

  • dsmith

    Tim’s smokin’ HOT on LiveStock today!

  • alexfalas

    EMGE shares available again on TOS. Any thoughts on re-shorting?

  • ev4ztimalerts

    covered 600 shares avg price 3.50 at 2.48 and 2.60 … 570 in profit – more than makes up for the last week – 3.68 to 3.20 and no double down at the top, if you had a better week you would of risked more maybe. thanks TIM

  • http://www.kabam.com tbohen

    Alex, if it continues to hang right at $3 I may take a flier on it into the close.

    EMGE

  • alexfalas

    Thanks tbohen. I got screwed this morning. Should’ve had 3,000 shares then but TOS told me no, yet everyone else got ‘em at the same time. Luckily, I kept trying throughout the day, but needless to say, I’m a little nervous to pull the trigger just yet.

  • Yngvai

    BC breaking out

Click here if you want to become a millionaire!

Close