For all of you who haven’t read my book An American Hedge Fund or watched my PennyStocking instructional DVD Package, back in March, I wrote about CYGT being the stock, the sole reason, as to why my hedge fund lost 35ish% over 2 years in 2006 and 2007 (see blog post HERE). Tough, tough, tough, tough, tough lesson, but it made me more cynical, conservative, an infinitely better teacher and even more determined to stick to my core trading strategy, a strategy that has yet to produce a huge loss, especially when I stay true to its quick loss cutting principles. Anyway, that bankruptcy filing was pretty much the end of the story for me and the 1 million+ shares … Continue reading
Category Archives: CYGT
“You Blew It Up! Damn You! Damn You All To Hell!” The Penny Stock Version
July 20, 2008 at 11:13 am by Timothy Sykes
"You Blew It Up! Damn You! Damn You All To Hell!" The Penny Stock Version
July 20, 2008 at 11:13 am by Timothy Sykes
For all of you who haven’t read my book An American Hedge Fund or watched my PennyStocking instructional DVD Package, back in March, I wrote about CYGT being the stock, the sole reason, as to why my hedge fund lost 35ish% over 2 years in 2006 and 2007 (see blog post HERE). Tough, tough, tough, tough, tough lesson, but it made me more cynical, conservative, an infinitely better teacher and even more determined to stick to my core trading strategy, a strategy that has yet to produce a huge loss, especially when I stay true to its quick loss cutting principles. Anyway, that bankruptcy filing was pretty much the end of the story for me and the 1 million+ shares … Continue reading
Obituaries: CYGT aka The Stock That Killed My Hedge Fund
March 28, 2008 at 3:41 pm by Timothy Sykes
Today, Cygnus (CYGT), a long-time Ticketmaster-wanna-be, lost their long-time battle against bankruptcy. They had been struggling ever since their first brush back in early 2006, barely clinging to life as if their leader was Terri Schiavo, but today, they finally succumbed to Chapter 11, the most common ailment among penny stocks. The company, founded in 2001, is best known for their role in bringing down my hedge fund, Cilantro Fund Partners, LP—accounting for a roughly 35% loss—and causing me endless grief from the joke that is “the financial community”. As detailed in my book An American Hedge Fund, in mid-2004, after nearly six years of uninterrupted six-figure annual profits, my ego and real world inexperience—aided by a top notch presentation … Continue reading
Wall Street Sequel: Idiots Never Sleep
January 1, 2008 at 7:37 pm by Timothy Sykes
Actually, the name of the sequel to the hit movie Wall Street is Money Never Sleeps and when it debuts in 2009, I have little doubt that its focus will be on absurd sums of money, greed, opulence and corruption in the finance industry. As will the upcoming TV show about hedge fund managers from Entourage creator Doug Ellin. Unfortunately, this is what the majority of people in and out of finance think Wall Street is all about (while there should be more emphasis put on the journey as the awesome There Will Be Blood does (saw it two nights ago, review forthcoming).
10 Companies With Sweet Technologies But Sour Stocks
December 16, 2007 at 7:46 pm by Timothy Sykes
Never invest based solely on the potential of a company’s technology! Nearly every smallcap company has a great story, but very very very very few of them will ever make it because success is much tougher than most people can ever imagine. It’s one of my book ’s greatest lessons. Check out these 10 companies, each has a technology that’
The Sykes Pattern Is Alive And Well, And I Will Teach Everyone, Including Myself, Seriously
December 13, 2007 at 2:04 pm by Timothy Sykes
TIM $14,195 (up $43 on the day) Short 1,000 MWY @ $3.29 Another Near Miss, I Really Suck Lately And That’s OK Covered my 1,200 ZVUE right at the open at prices ranging from $2.12
Im Beginning To Like That Old Guy Because He Seems To Inspire Selloffs!
December 11, 2007 at 2:58 pm by Timothy Sykes
TIM $14,443 (down $2 on the day) Shorted 500 JMBA @ $5.04, Holding Overnight Today is a day where I really hate the bastards at the SEC for imprisoning people with accounts worth less than $25k. Finally some nice volatility, perfect for day traders of all shapes and sizes (well, not ALL sizes)!
IAAPA, Cygnus and the iPhone of Ticketing
November 25, 2007 at 2:41 pm by Timothy Sykes
IAAPA is no ordinary expo. This year over 27,000 people attended, not only because it’s the attraction industry’s largest annual event, but because it’s hella fun! After all, the 1,000 exhibitors trying to sell their products by showing you how fun they are. Check out the pics: MsoNormal”> Yup, that’sme in that crazy inflatable futuristic sumo suit—right before I got taken down hardcore by my fifteen year-old opponent! Yeah, I definitely need to bring a real camera next time instead of relying on my alleged 3 megapixel camera on my phone (no way this is even 1 megapixel!). Anyway, in … Continue reading
10 Questions for Tim Sykes
November 21, 2007 at 1:48 pm by Timothy Sykes
How were the ladies and the scene out in LA? You still there or back home for turkey day? No time for LA ladies this time around—too many meetings and projects going on…took the red eye back this morning in order to make my debut on the FOX Business Network at 6:30AM (I’ll have the video up shortly) soNormal”> Tim, the market has been so brutal lately, I’m even afraid to look at my account! I’m down 25% since the bull run reversed back in mid October. Should have shorted huh? It’s easy to look back and say shoulda woulda coulda, but in my experience, you need to simply focus on what works for you, be comfortable with your market … Continue reading
How I know I'll Never Be A Great Trader
November 16, 2007 at 2:07 pm by Timothy Sykes
TIM $14,067 (up $87 on the day, $1,269 on the week) No positions, 100% cash over the weekend Today I proved what I have long suspected and openly talked about—I’m good at trading, but definitely not great. I’ve been following QSC and XRM, taking a $130ish loss on QSC yesterd
