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The other day I told TIMalert subscribers:
Shorted 10,000 Imaging3, Inc. (IMGG) at 1.64…I was fortunate to have found shares to short of this stock so I took a decent-sized position…entire research report coming later, but there are so many things wrong with this pump & dump, min thing is they sold 100 million shares at 2.5 cents/share just a few weeks ago…all those buyers are dying to sell ASAP, stock options too, there’s over 400 million shares outstanding, every SEC filing has different numbers, potential SEC halt, it already tanked a bit off its highs from $2, but it was due to a horrific earnings report, which was announced via SEC filing, not PR…my goal is to cover in the low $1s,, support at $1, so I’d be happy with $1.10ish…of course an SEc halt would take it down to 50 cents/share or lower, so let’s see the what the SEc thinks once I show them all my research, the research the SEC should be doing themselves….mental stop loss if it breaks above $1.95
I ended up bitching out (like I normally do….yup, I might be the #1 trader out of 35,000+ on Covestor, but I am far from perfect)
Covered at 1.425 because just as last time it looked like it would really rollover (I shorted this stock at 70 cents/share and ocvered at 60 cents/share), it has faded nicely, but I just don’t see any panic….potential FDA approval, as unlikely as it may seem, could happen, so I do not want to risk getting squeezed…it dipped at the market open, but its shows few signs of any bigtime cracking through $1.40 support so I take my $2,000+ profit and go…congrats to Covestor auto-traders who should have this trade replicated automatically!
Here’s a good blog post about my trade…I personally made +$2,094, putting me up $23,000+ this month (I trade 3 accounts now, see my recent post about them all), but the good news is TIMalert subscribers and PennyStocking DVD students know better….they aren’t as impatient as I am they banked $6,500+:
Just covered my IMGG short from yesterday at $1.04 from my $1.40 entry. Made $1420 today plus the $550 from yesterday puts me up $1970 on this play!!!
-Adam N.
Messed up with my sell order but still made $1749 on IMGG.
-Bill
Awesome day of Tim trades. Recap:Shorted 2000 IMGG @1.64 (before Timmy, hurrah!), covered at a 1.48 avg for $320.Shorted 500 NLST a couple of times:
From 5.60 to 5.25, 5.10 to 5.02 and 4.80 to 4.06. Still short 500 from 4.04. NLST profit $450. $770 Total. Thanks Tim!
-Parabol
i covered IMGG too at 1.44 for a $550ish profit
-curtly
Out IMGG (1000 at 1.44 and 1000 at 1.52), +$320.
-parabol
out IMGG +$262.50
-Reaper
IMGG, out plus $220 on short and bought at 1.46.
-zulobb
Jeez Tim you didn’t even give this one a chance to break 1.40, but out of fear of a mini spike from your lemmings I covered at $1.445 for a $555 profit.
-Adam N.
Covered IMGG for a $225 profit. Also went long SALM @5.26 and sold @5.68 for a $369 profi
-Nifri
+268$ from 1000 IMGG, in @ 1.565 out @ 1.29. Txs
- Oleg
Posted in Basics, Good Trades, Short Selling, Testimonials