Refuting 8 Lies About My Being A Penny Stock Promoter & A Scam, Excuse Me For Only Being Up 1,458% - Timothy Sykes

Refuting 8 Lies About My Being A Penny Stock Promoter & A Scam, Excuse Me For Only Being Up 1,458%

Unlike Options Media Group Holdings, Inc. (OPMG) and Shaquille O’Neal who respond with cease & desist orders (see my response to Shaq, next week I’ll post my OPMG letter) to things they don’t like posted about them on the internet, I respond publicly because I don’t need lawyers to point out lies…this is why I am 100% transparent, not just in my trading but business too.

It’s the right way to be.

The difference being that when I write about Shaq and OPMG, I use the companies’ own SEC filings as my sources so if they want to say I’m lying, that means they are lying about themselves.

As I pointed out in my confessions post yesterday, I have little to no time to deal with positive or negative things posted about me, but because I know promoters looking to discredit me with try to spread these lies, it’s important that I confront these scumbags right now.

The first post filled with absolute lies is this post from a promoter whose disclaimer reads:

Pennystockalerts.com is often compensated to conduct investor relations marketing for the companies alerted and profiled. That is an absolute conflict of interest into our ability to be unbiased. Therefore any materials and information on this website or contained in emails sent from this site are purely commercial advertisements. The primary business of Pennystockalerts.com is to receive financial compensation for issuing alerts of profiled companies. Pennystockalerts.com is hired by companies or third parties to increase investor awareness.

Download a PDF version of this post.

Strike #1: I am ALWAYS unbiased as I only get paid by subscribers of my 4 newsletters, NEVER by shareholders or insiders of my picks because that conflict of interest is the problem with penny stock promotion…this guy’s disclaimer is EXTREMELY relevant when writing about me because I expose his unethical business model so he likely has a massive chip on his shoulder…and being the promoter he is, he likes twisting stories around for his own benefit.

Strike #2, all the lies:

Lie #1:

What’s the innocent angel of the penny stock industry promising this time? Give him a little time, patience, and money. He’ll give you…over $3 million? Unfortunately, Tim has really laid the BS on thick this time by charging about $2,000 for a crappy program that claims to make you millions of dollars in a few years.

Penny Stock Millionaire is $2,000 per year (roughly $160/month) but I NEVER claim to make anyone millions…in fact if you watch the video for this newsletter I specifically state this is how I’ve done in the past, not how I expect anyone else to do…the truth is most of you are too lazy and ignorant to make my strategy work for you perfectly. The good news is my few million are nowhere near best case scenario — as subscribers of my 4 newsletters can see I’m not a great trader at all so I wouldn’t be surprised if some diligent person actually does repeat my feat or does even better.

As you can see from this chart of my Thinkorswim trading account we used while promoting Penny Stock Millionaire in March 2011, I’ve grown it from $12,415 to over $140,000+ over the past 3 years and as of June 3rd, 2011, it stands at $193,415 for a gain of 1,458%, every trade detailed HERE
Thinkorswim

And that’s just one of my trading accounts, so yes I haven’t turned thousands into millions the past few years (remember I’m mainly a short seller and it’s been a bull market), but this basic online discount broker account has grown nearly 20x, which is remarkable especially given how many projects I have and the fact that it took me 9 months to get over the $25,000 hump due to the ridiculous Pattern Day Trading Rule

Lie #2:

When I searched the term “penny stock”, one of the most frequently searched and expensive keywords in the entire industry to advertise, Tim Syke’s site stocksscamalert.com is the very top listed sponsored result! He pays every time someone clicks on that. I’m in that position very often myself for the exact same keyword. I will tell you one thing, it is VERY expensive to advertise like that.

Actually I don’t pay anything, Penny Stock Millionaire is not owned by me, I am just the guru, the promoter either knows this or purposely blocks it out and no, our advertising budget is not great, especially compared to stock promoters…the company that manages this newsletter just has better SEO experts.

Lie #3: This guy is such a crock. Here is almost the first thing he says in his video: I’ve also been ranked the number one trader out of 50,000-plus traders on www.Covestor.com the past three years in a row by trading penny stocks exclusively. That sounded too good to be true, but with the percentage gains Tim had promised I figured it could very well be true. It’s not. Take a look at the information I found on www.Covestor.com, a service where you can pay to have your brokerage account automatically mirror the trades that the investor your following executes. They have access to a brokerage account you setup specifically for this purpose, which has to be setup with Interactive Brokers, yet another service Timothy Sykes is often heard peddling. This guy is like the Paul Newman of penny stocks, he’ll put his name on anything. First of all Tim is definitely NOT ranked #1 right now. He is currently #6, NOT #1. His fund is called Contra Hype, and has returned 14.22% over the last 3 months.

Again this promoter is either too stupid or conniving to note that he’s only looking at the rankings for Covestor’s auto-trading…which time and again I’ve said doesn’t work well with my strategy because it’s just linked to one brokerage account at Interactive Brokers and the shares go fast, first-come, first-servce hence why it’s far better for me to teach this strategy to others than for lots of people to mirror what I do. When you call me a crock, perhaps you should do some actual research before you make such ignorant assumptions. See my Thinkorswim account for a more accurate impression of what my strategy is capable of.

As I wrote in my comprehensive broker post, I now use nearly half a dozen brokers, if you want to judge how my accounts do, consider all the accounts which is where I get my advertised performance numbers from.

If you look up Covestor’s top personal track records, which are now out of 60,000+ traders, and this is linked to my Thinkorswim account which has now gone from $12k to roughly $193k in 3.5 years, you can clearly see I am #1 and have been for the past 4 years:

Covestor

Covestor

Lie #3:

Here is the shocking part. Tim founded this account so people could pay a fee to mirror his personal penny stock trading activities. Sounds an awful lot like the premise to Penny Stock Millionaire. IF he’s really making the returns he brags about and claims you will make as well, then $2,000 is an amazing bargain for returns in the 50-200% range annually.

Oh my God this guy is lying through his teeth, my auto-trading doesn’t work well because it’s a short-biased strategy requiring manual borrowing of shares to short ahead of time….Penny Stock Millionaire is longer term and long-biased, NOWHERE near similar, in fact quite opposite.

Lie #4:

Covestor.com promotes mirroring Tim Sykes account pretty heavily, so it seems likely there are a lot of followers who execute his trades. What did THEY make? Over the same time period they made a total of…1.25%. Yes, you read that right. They made one and one quarter percent. Tim makes about 30%. The S&P 500 make about 30%, and anyone unfortunate to get mixed up with the ultimate scumbag made 1.25%. How come that isn’t in your little presentation, Tim

Congrats, you’ve proved what I’ve said for years now, Covestor’s auto-trading sucks with my strategy…and no they don’t promote it heavily nor do I until they work out all the kinks.

Lie #5: Tim Sykes IS a Penny Stock Promoter What shocked me is I received an email about Penny Stock Millionaire from what Tim hates more than anything, a penny stock promoter. I actually like the promoter who got paid to advertise Tim’s crap, but why is a man whose claim to fame is the penny stock guy who hates promoters actually partnering up with those promoters…and even putting money in their pockets?! If I truly hated people who did something, I certainly wouldn’t be partnering up with them…and even more certainly, I would NOT be putting money in their pockets by paying them to advertise my service.

A stock promoter gets compensated to advertise a stock so the insiders can pump and dump and usually trades against their subscribers because they like making extra $ too. As I’ve stated, I do not get compensated on my picks and I NEVER trade against my subscribers (ie. if I put out a buy alert, I’m buying the stock, not selling or shorting it)

As for my working with stock promoters, hell yes! They have great email lists full of people who know nothing about penny stocks and I’m proud to be encouraging them to promote real products like mine instead of the usual pump & dump schemes…ANYONE can become an affiliate of mine, just signup here…it’s not just good business to use the stock promoters to help educate people the right way for once, it’s GREAT business….using a stock promoter’s list to find customers does not make me a stock promoter…I still will NEVER take compensation form insiders for picks, that conflict of interest is why stock promotion is so unethical/the kiss of death for these kinds of stocks.

Strike #3: The guy photoshopped one of my box ads and used his name instead of mine…he’s so unoriginal/poor, he can’t even come with his own ads!

Long story short, yes I’ve had amazing returns in the past and yes I think I will have them in the future, but most importantly because I see just how poorly I play most of these stocks, I know you can do a TON better…one of my PRO subscribers is up $50,000+ now in just a few months and I have countless other testimonials…I literally have thousands of people each day asking for personal attention and coaching so if you’re not sure about me, fine, go elsewhere…do let me know when you find another trading coach with such a track record and so many educational materials so you can learn their entire strategy, I’d love to see that happen.

For now, you have 2 options, you can either trade blind and hope to be lucky or study your ass off with someone willing to teach you for very cheap prices compared to what these lessons will cost you if you learn them the hard way…like I did for years. Your choice 🙂 And you also have the choice of what newsletter: Penny Stock Millionaire is longer term, long biased…PennyStocking Silver and TIMalerts are short-term short-biased, don’t let a penny stock promoter’s lies confuse you.

Another post I have great issues with is entitled “Has Timothy Sykes Become What He Hates?” whose author then proceeded to tweet it to my few haters, likely in an attempt to get retweets from them to blow up the issue…which is just sad.

Lie #6: If you have seen any of Tim’s instructional DVD series, you may have noticed his hatred toward penny promoters

Actually I NEED promoters I don’t hate them…there is a difference in that I teach you dumb suckers out there to understand what a promoter is, but if you want profit opportunities, you shouldn’t hate them, you should thank them for their unethical existence….I understand why the author of this article confused but it’s an important point.

Lie #7: Perhaps I am incorrect, but there seems to be a resemblance between my description of the alerts by Tim Sykes and the alerts from penny promoters.

Yes you are incorrect, promoters send out massive email campaigns to millions of people and coordinate efforts with market makers and company insiders to release news in order to get stock prices up to make their masters happy because that’s what they are paid to do…I simply send out my trades, alerts and research…I have roughly 1,300 subscribers, 1/3 of whom even open their emails. I don’t want to influence stocks I want my subscribers to learn why I’m making a trade…and if I teach correctly, many of my subscribers can anticipate my trades because it’s the same damn pattern over and over.

Lie #8: Some in the twitter community have blamed the recent decline of $TBBC on Tim’s sale of the stock. Though this cannot be proven with certainty as we do not know what would have happened if he did not sell, it would be agreed by most that some portion of the decline was a result of his sale.

I sold BRAINY BRANDS CO INC (TBBC) at $1.60ish and it was already dropping fast before I could even get executed so my exit prices are 1.62, 1.60, 1.59 and 1.57…this all happened BEFORE I even got executed let alone sent out any sell alert…within 10-20 minutes of my sell alert TBBC had fallen to the low 1.50s, roughly 5 cents/share from where my last execution took place and the “twitter community” blamed me for the drop…people should blame themselves for not getting out sooner when it became clear the big rumored mailing over the weekend had not been sent out…1 day later in the 1.30s, my sell looked pretty good…yesterday when the stock touched $1/share my sell looked EXCELLENT…am I to blame for the fading volume when I sold (if I really do influence stocks, shouldn’t there have been a volume spike when I sold rather than roughly 1/2 the previous day’s volume) and this now 30%+ drop?…also the past 2 days had much greater selling volume on their morning panics than when I sold, why is that?

Long story short, penny stocks are volatile and all you can do is learn how to trade that volatility…unlike stock promoters I have nearly 300 video lessons for PennyStocking Silver subscribers in addition to 13 DVDs, all of which teach these patterns. I have not nor will I ever become a promoter who gets compensated to pump and dump stocks so I will never become “what I hate”.

I’ll probly have to get into lowly hypothetical trading eventually as my subscriber-base grows, but right now the volume on the stocks I trade are high enough for me to trade without influencing prices (for the record TBBC jumped an amazing 2 cents/share when I bought, LEXG was right around there too…LEXG later rose $9+/share making my 2 cents/share quite inconsequential and can also be written off given that I bought both due to technical breakouts and we don’t know how many other traders buy at these same key inflection points)

The good news is that perhaps thanks to ignorant and intentionally misleading posts like these, I might never have to worry about my subscriber base growing that big 🙂

Posted in Haters

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38 comments

Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

  1. JLex24

    This is why I roll with you! You turned from a message board bum into a real trading sniper!

  2. Aandelenbeurs

    This guy is a tool, should be ignored. You’re not like those guys who never talk about the weaknesses of trading strategies. Every trading strategy has weaknesses, and you’ve clearly outlined them. You’re way more honest than others out there.

  3. Admin

    I’m Penny Psycho.  I wrote the article he is bashing.  Good job Jesus!  I don’t claim to be an angel, but my disclaimer is crystal clear, short, and easy to read.  I don’t hide anything.  Unlike Tim, who poses as more innocent than he really is.

  4. Penny Psycho

    Why are you so obsessed with me Timmy, get a life!!  If I’m such a scumbag, why did the pick I sent yesterday go from 2 cents (opened at 6.7) to 70 cents?  Huh?  NO I did NOT get paid for it, and no I did NOT sell any shares.  What’s up with that Tim???

  5. Anonymous

    and i’ve asked u several times to fix your article to take out the lies…analyzing just one of my 7 accounts, which is the worst performing due to covestor’s auto-trading not working with my strategy is not right…like a typical penny stock promoter, u use half truths…go take a look at http://www.timothysykes.com/tim and u can see how my accounts as a whole perform…i expect edits and an apology for calling my track record fake…if not, i’ll gladly bring in my lawyers, given that you’re a penny stock promoter and u lied intentionally to discredit me…and the fact that u stole my ad design to confuse readers and a whole lot more, i’d love to sue your ass in court…your choice, but do it soon because my lawyers are looking at your malicious lies right now.

  6. Anonymous

    tell me how i scam people when i detail every last ounce of my strategy and show all my trades…do tell, explain jesus or i’ll nail u to the cross again

  7. Anonymous

    zzzz why do penny stock promoters always pick their one best pick and brag about it to justify their existence…hey genius, post ALL your picks on http://profit.ly and then we’ll see how good u are…you won’t do it because you’re a typical promoter, not even a first-rate promoter and your track record sucks…i’d love for u to prove me wrong but u wont, you’re just a snake and snakes bore me

  8. Penny Psycho

    I’m not signing up for your lame website.  “zzzz”  There are scumbag promoters.  They hide their disclaimers and they’re too dumb to know the best way for THEM to get rich, is for them to truly try to make their readers money.  I don’t think I’m one of those promoters.  I bragged about that pick because it was from YESTERDAY..my very most recent.  Yes, I do send plenty of picks that do poorly.  I don’t deny that at all.  However, I also send out a lot of winners and I’m more honest and straightforward with my readers than any promoter I know…and I follow them all. 

  9. Penny Psycho

    Ha!  Sounds like you’re acting like quite a Shaq, Timmy.  At the bottom my article clearly states that it’s only MY PERSONAL OPINION.  Although truth be told, I do believe everything I’m saying is true.  Please do waste your time and money suing me.

  10. Penny Psycho

    LOL, good one Tim.  That actually WAS funny.  Anyway, I have to go.  We can continue this love-fest another time.

  11. Anonymous

    no promoter ever thinks they are a scumbag, the fact that u blatantly lied about me in your article and now have refused to take it down proves you’re a piece of shit…and who care about your most recent alerts vs. your first, i trade the same patterns, my stuff is proven as u can see not only form my trades but from my subscribers too on http://profit.ly u have no proof of success other than that u lie…expect to hear from my lawyer next week if the post is still up/not edited and an apology is written for your lies

  12. Penny Psycho

    Although, I don’t know what you mean about stealing your ad design or confusing readers.  It’s clearly a Tim-bashing piece. 

  13. Anonymous

    sorry factual lies are not opinions, i’m excited to take some promoter $ and unmask u too, u made a big mistake u dumb piece of shit

  14. Anonymous

    sorry its the weekend and i’m flying back tot he US…when u call me a scam, con man, what did u expect from the most transparent trader in the world..u’re going down u dumb piece of shit, u cant disclaimer your way out of this one

  15. Ben

    you have no legal action to take against this guy, and you know it.  his interpretation of you is just as valid as your interpretation of certain stocks’ SEC filings.  you scoff at cease and desist letters.  so too will this guy.  free speech.  opinion.  you have absolutely no case, tim.

  16. Anonymous

    inaccurate, the guy called me a con man and a scam…i am neither…he also says i lie about my performance and i’m not #1 on covestor, both of which i proved in this blog post…u’ll see, gotta take out the trash, not gonna tolerate lies from college punks and promoters

  17. Penny Psycho

    I actually have a page on my site bashing Cramer a bit too.  Even though I like and respect Cramer far more than Tim.  CNBC lawyers contacted me, and even they said there’s nothing they can do about stating my personal opinion of Cramer…but wanted me to remove some pic I had up, which I did.

    Thanks a lot Ben.  I appreciate it very much!  I’m genuinely surprised someone who bashes other people so hard freaks out so badly when the magnifying glass is put on him.  If you run around bashing everyone and generalizing them, you can’t expect the same thing not to happen to you.  You should see the 100 curse word filled emails this guy Tim wrote me. 

  18. Anonymous

    u LIED about my track record and you call me a con man…opinions are one things, lies are another. sorry gotta expose rats like u, u hurt the public

  19. JLeX24

    This is why I roll with you! You turned” me” from a message board” bum” into a real trading sniper!

    I had to edit this guys lol

  20. TimsDailyJokes

    “factual lies” your so funny !
    That term would obviously apply to your research. As you state, you use the companies’ own SEC filings as your sources. You fail to state you use outdated filing that have nothing to do with the companies standing at this point. You stated “Obvious pump and dump”, you don’t state it could be, you state it as a fact, you claim your assumptions are fact. You intentionally write misleading articles based on historical information instead of the latest filings, you assume instead of sticking to fact (that is if you overlook your “factual lies”), and the only reason is for “Little Timmy” to get his daily dose of attention.

    Your fees would almost be worth the entertainment. You have a great future as a comedian, or should I say “You would have a better future as a comedian”.

  21. Anonymous

    uhhhhhhhhhh when i wrote about OPMG on 5/18 i used their 5/17 SEC filing, not so outdated…and what i find is that people dont disagree with my research as much as they think i’m wrong…but i face that hurdle with every paid pump, u’ll all see in the end and eventually everyone will say thank u

  22. TimsDailyJokes

    Quote: “eventually everyone will say thank u”
    Whats that Timmy, another attempt at humor, your a very funny boy.

    Thats just classic, did everyone read that. I understand now, your research on OPMG was all a joke. I misunderstood you all along Timmy. Your truly are a funny little boy

  23. Ahpen48

    Way to go Tim. Tellin’ it like it is. Your haters hate that, LOL. Love to see them squirm, prevaricate, deflect and generally throw up a smoke screen. And “it is a breath of fresh air” to read your blogs.

  24. Mega Man

    Penny Psycho,

    Instead of trying to discredit Tim & bashing him why don’t you pay EpicStockPicks his money back for that bullshit promotion you did on CUBV?  Scott Wilding is still pissed and Epic wants his F&%KING $ BACK!!!!!!!!!!  You SCUMBAG TURD SCAMMER!

  25. Mega Man

    Penny Psycho,

    Instead of trying to discredit Tim & bashing
    him why don’t you pay EpicStockPicks his money back for that bullshit
    promotion you did on CUBV?  Scott Wilding is still pissed and Epic wants
    his F&%KING $ BACK!!!!!!!!!!  You SCUMBAG TURD SCAMMER!

  26. Scott Wilding

    If Epic doesn’t get his money back soon expect those tires on your Ferrari to be missing really soon you piece of shit thief!

  27. Jerome

    Stick your lawyer up your a$$ because there is going to be some real muscle looking for you real f’n soon & you won’t be able to hide you piece of $hit thief!

  28. Jerome

    Psycho, owes a lot of promoters $ that he’s ripped off and word is there is a beat down brewing out on the West Coast soon. 

  29. Jerome

    You also stole a lot of people’s $ you scum bag thief.  Things are lining up though so don’t you worry.

  30. Vagpants

    Timmy and Psycho, you two are both scam artists in any way you cut it. If both of you yahoo’s were making so much money why the need to post rants and raves all over the internet?  

  31. Anonymous

    LOL i’ms orry, do i take $ from companies/shareholders for picks? do i use an alias? no and no…i am the opposite of penny stock psycho, and i accept your apology for you are one of the many ignorant people in penny stocks, not worthy of my transparency and open teaching of my proven strategy

  32. Pingback: Michael Arrington Of TechCrunch Is Either A Hypocrite Or Was He Compensated To Feature This Penny Stock Pump & Dump?

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