Archive for the ‘Impatience’ Category
Behold The Latest Perfect TIMalerts Short: Mechanical Technology Inc. (MKTY), Down 30% Since My Alert
Another day, another huge TIMalert victory—this time it was calling, profiting, blogging, predicting, you name it, MKTY is down 31% off its high on the day…$5.50 to $3.78…so far. I profited, TIMalert subscribers profited, and just about everyone else couldn’t find any shares to short—welcome to the TIMalert biz model. Good things come in low float packages and everyone wants to reserve shares to short…TIMalert subscribers get the email/post on the subscribers-only website at 8am, everyone else gets the info later, usually after all the shares have been reserved.
Here’s the story of a pump named MKTY as told by my alerts—this isn’t magic, it’s just how pump and dumps act…it’s about time people gave them the respect they deserve cuz they’re just so damn predictable!
Posted on TIMalert subscribers-only-website at 8am today:
MKTY is my #1 potential short today (already reserved 1,500 shares to short or the day), especially on any spike, I was early shorting yesterday, but played it safe and even managed to escape with a small gain…TIMalert subscribers know all about it as the subscriber-only website had over 100 comments yesterday (new record!)…also discussed in my blog post last night…this is a pure pump, but it’s only a $25 million company so it can go further than you think possible…yesterday was 2nd big up day, if this pattern holds true, the 3rd day is tough for it to finish up big, let alone up at all…of course the pattern h as mutations so maybe we’ll get a true Supernova here…at the very least, I’m hoping it can squeeze some early shorts past the the key $5 resistance
Three Small Profitable Trades For TIM; Three Giant Gains For TIMalert-kind
Yup, posted about another couple of trades rather perfectly, even while I personally screwed them up a bit…this has gotta be some kind of record, what is it 10 years of this crap now? Welcome to my life brothas!
Wednesday: After a morning runup, I saw HYGS fading a bit—price and volume-wise, so I pulled up my Thinkorswim live chat to enter in my order (reserved shares in the morning, but just put a note on my account) and guess what I saw, I had shorted 2,000 TGC at $3.49 (thinking it’d never get up that high, I was too lazy to put a note on my account/have to get the chat window open again, the sequel to my original VRML mistake) and now that stock was at $3.75….friggin moron!?!?!?! Wasn’t a bad short in the overall scheme of its chart so I told TIMalert subscribers I’d hold onto it and see how it’d perform, even if it was an accidental trade. Also told em, I was watching HYGS for a possible fade since at $2.30ish, it was only up 5 cents on the day and sellers were looking more determined (forming a wall of sellers with fading buy volume)…
A few seconds later and HYGS has broken $2.30 so I put in the order to short 2,000 with a limit of $2.27…got $2.29, whewww….emailed TIMalert peeps (members-only website coming next week so you never miss anything) by saying “i think if it takes out 2.28-2.25ish, it can go under $2”…just as that was breaking down a bit, TGC pulled back too so I decided to play it safe, covering at $3.44, a 5 cent/share gain, but basically getting me out of a trade I never meant to be in.
Short Selling Games: How To & Not To Short A Morning Spike
Each of the past two mornings, I’ve shorted Uranium Resources, Inc. (URRE)—mainly cuz it’s up so much and its horrendous long-term chart and level 2 price action tells me there’s a ton of bitter shareholders looking to sell on these bounces. This 100% stock price spike naturally has brought in the short sellers, many of whom are complete morons, thinking it’s gonna collapse at any moment and I gotta thank God for their existence cuz their premature entry and inevitable squeezing is what causes these morning spikes.
Yesterday, I wisely waited for a nice wall of sellers to enter—meaning there was plenty of overhead resistance, even during the spike, shorting 1,500 at $4.05—even though it was off the day high by 20 cents…I wanted 30 cents of downside and got some of it, but when buyers seemed determined in the $3.85 range, I said to my self “can’t be greedy, this isn’t an I deal play” (it wasn’t negative on the day nor the afternoon). Covering at $3.90 it was a decent $200 gain.
3 Successful Safe Trades: A Breakout Buy, Ambitious Short & A Live Trade On Video!
My last 3 trades have been a testament to my philosophy that traders with small accounts should trade scared—traded as if you were a cracked out broker doing lines off your mistress in the downtown Goldman Sachs building when you hear a knock at the door accompanied by a voice that says “Police, open up!” Because that way you never overstay your welcome in a trade. Yes, you’re probly gonna exit early, but exiting early is safe aka infinitely better than risking exiting late.
First up, as I detailed in THIS post, there were several low priced oil stocks breaking out that I was thinking of buying, my top two choices being Tengasco, Inc. (TGC) and Samson Oil & Gas Limited (ADR) (SSN) as they were the lowest priced… SSN was just a spiker, not a true breakout (so even though it eventually fell the hardest, it was actually a great buy, think $4 to $6, or 50% overnight…ah hindsight), so I went with TGC, buying 3,000 shares at $1.69 (on an intraday dip around 2pm even as other oils were breaking out strongly) and when it broke the day high of $1.75 less than an hour later, I got pretty excited as to how high it could go since there was no resistance anywhere…
But taking trading scared to the next level, I sold out at $1.78 for a $250ish gain, not because the breakout was failing (on the contrary, ‘twas perfect) but cuz there were lots of big sellers orders all around just above…I am a wussie…as the stock was only up 20% on a perfect breakout…closing nicely higher at $1.85…opening strongly in the $1.90s on its way to $2.09, a nice 23% one day move for TIMalert subscribers and I rejoiced at several emails I got from those who also got in anywhere from $1.70 to $1.75 and exited better than me (as you should know by now is not hard to do) in the $2 range! (although PennyStocking student Tony Ellis discovered what it’s like to be last on the exit in THIS post…still profited aka why PennyStocking is gorgeous)
In PennyStocking & TIM You Must Trust: Receive 6% Overnight Interest At The Bare Minimum, 15-25% If You’re Not Jewish
As I emailed TIMalert subscribers in near real-time, I sold my HYHY position near the market open at $2.37 for a solid, if not extraordinary, 6% overnight gain of about $265, putting TIM up 8% on the month and right back to my old highs, up 55% since November 2007.
You see for all my crazy—some say—theories, but this time proven right…yet again…suckas, I stink at timing my trades. (As I think I proved beyond a shadow of doubt with my woeful but carefully controlled losses in May) Scared by my own openness (probly best not to call a company you’re long a fraud) in last night’s post and another scathing overnight article on The Fool (the hypocrites wouldn’t publish a nice review of my book An American Hedge Fund by one of their writers cuz it deals too much with penny stocks—man, I’m telling you Back of the Bus-type discrimination makes me sick) entitled “Potential Scam Alert”, I wasn’t sure how much longer this rally would last.
One Of The Worst Trades Of My Life & Still A Solid Profit: Behold PennyStocking!
You know how I always say wait for ideal opportunities? Well today was one and while I made $700, I screwed it up completely—latest proof that if u stick to these kinds of plays, its sooooooooo tough not to make money:
When a piece-of-cow-dung-type company (just look at the chart, little research other than that needed) like South Texas Oil Company (STXX) spikes up…for any reason…you gotta get interested in shorting it. When similarly foul smelling stock promoter Lebed is involved, the BullShitometer goes off the charts and you just gotta reserve shares ASAP
Well that was the thinking that made me short 1000 shares of this stock yesterday at $4—mistakenly believing I got a good execution since the volume was pathetic and the bid was $3.40, I figured I’d scalp it for an easy 30-50 cents/share…unfortunately, the bid caught up and shorts like me got squeezed to the $4.50 range (thankfully the company is so bad, even stock promotion couldn’t get it up much more than that!). Displaying some newfound patience/conservatism, I controlled my losses and covered at an average of $4.22, a $250 loss, but not bad considering my impatience/stupidity at getting in in the first place (I love how several PennyStocking DVD students commented/emailed/IMed me I was wrong for getting in—at least I’m a good teacher!)
More TIMtv Video Clips To Cure Your Trading Addiction
When I see emails and blog comments from people asking about random ass stocks like Sirius Satellite Radio Inc. (SIRI), Ford Motor Company (F) and China Finance Online Co. (ADR) (JRJC), I know I haven’t promoted my instructional DVD PennyStocking hard enough. I thought I was doing a good job, but it turns out I was wrong. Cuz if you had seen it, you’d know its central theme is to only trade worthy opportunities being a.) incredibly volatile stocks—think up 50-300% in a few days and b.) inefficient stocks—think spam stocks, message board/newsletter pumps…stuff like NTI…NEVER would I recommend playing large liquid companies that everyone and their mother has some opinion on. On those, you have no odds whatsoever, so it’s no wonder why so many traders lose money.
You’re overtrading.
Trust me, I know how addictive the kinds of profits you made on PDO, MXC, FPP, and ROYL can be, but now you gotta step back and realize those patterns are gone now. As I anticipated, traders of smallcaps—where there’s only a few truly worthy opportunities per week—need to be distracted/entertained the rest of the time….and that’s why I’ve already uploaded more funny/educational/wastes of time videos to TIMtv…Watch these anytime, but if you feel the need to profit and you rationalize trades by saying to yourself “let’s see how this goes” or “after all, trading is like gambling” or the worst “win some, lose some”, immediately go to TIMtv and stop trading! Your account will thank you…and remember LiveStock tomorrow at 1PM EST not so sharp!
Great great clip about pump and dumps, the guy beat me to it
Mariah Carey throwing a baseball…funny stuff
Awesome angry Bill O’Reilly clip
Why You Can Buy My Short Picks Too aka My Northern Technologies International Corp (NTI) Trades
Exactly what the title says, just because I’m looking to short or even while I’m shorting a stock, that doesn’t mean you can’t profit–sometimes more–by going the opposite direction aka buying. That’s the beauty of PennyStocking, there’s so many ways to profit, it all depends on your personality and what you’re good at. Since I’m a cynical Jew who’s seen crap / been burned, short selling works better for me and yet the big money was made from the long side yesterday and today on Northern Technologies International Corp (NTI).
As I wrote in THIS post, this stock was up due to Superman being on fire…I could be wrong and their new subsidiary actually could be onto something, but again, my prospective is that all these companies are full of BS aka about as trustworthy as a pedophile priest. Not to mention that before Superhombre picked up its story, it’d gone from $8/share 10 years ago to…wait for it…$8! Exactly, Driving Miss Daisy is more action packed and Jessica Tandy is more lively (she’s dead) aka totally unworthy of this 75% spike.
TIMTV Is Here And It’s Gonna Entertain Ya!
Besides LiveStock (another live show later this week…Friday afternoon again), and a few other shows I’m working on (oh yes, there’s more…), TIMtv is all about quality entertaining/comedic clips meant to help traders pass the time in between worthy trades (oh yes, everything I do is educational…somewhat). I know from experience how tough it is not to take a small positions here and there—just for the potential profit/experience/rush and you must avoid that temptation cuz that’s not the way to make big % returns. TIMtv is gonna help you focus on only the worthiest of trades by wasting away market hours upon market hours of your lives.
Here’s the first batch, if you know of any more great clips, preferably on Youtube and finance/business related, definitely send ‘em my way!
Will Ferrell on CNBC…truly great clip
You can’t handle the truth…business-style…very solid
People on Wall Street aren’t the only ones full of BS…you will LOL
The Dangers Of Shorting Hot Oil Stocks With Absurd SEC Rules, A Lack Of Discipline & A Tiny Account
That title is just about the worst combo there is and yet I went full steam ahead, shorting 1,000 FPP five minutes after the market open into a spike I thought to be ill-fated. Nearly right away when I was down 20 cents on my position, I knew I’d screwed up. Despite my warning everyone about the dangers of shorting these rocketships before they go red and the fact that I made the exact same mistake just two days ago, I even refused to take a $150 profit, instead wanting more, almost inevitably getting squeezed for a $600 loss.
I guess it’s true what they say, you can’t t each a greedy Jew new tricks.
I explained my rational for breaking the very rulesI created to protect myself the other day—not that its much of an excuse—and today was no different, except FPP was double the price and I got squeezed for double, 50 cent/share as opposed to 25, too. Fitting, right? Again, I was right about the morning pullback after the spike, it just happened $1 higher than my entry!
The Daily PennyStocking Roundups Begin Now!
Based on my book/DVD sales, email list and website subscribers, there’s now a few thousand of you out there who are playing these trashy low priced stocks based on my PennyStocking strategies, which obviously makes me Naismith-like proud. Don’t get me wrong, I didn’t invent making $ from buying and shorting these corrupt companies, I’m just gonna be the one to popularize it! Especially short selling these suckers!
Since there’s sooo many different players trading sooo many hot stocks now, I thought we’d have a daily roundup post like this that will benefit us all. Forget about just my trades/lessons and gains/losses, I want you guys to share your daily moves too! If we all share our thoughts/trades openly, everyone benefits and can better be able to adapt to the current environment/evolving patterns. 90% of traders lose $, so if we can reduce that number here to say 20-30%, we’re not only profiting, we’re doing something helpful/meaningful. (These kinds of posts are just the beginning)
So, this morning–no matter that I’ve repeatedly stated it’s wrong to short into a morning spike cuz they always go further than anyone expects–I broke my own rules and shorted, current Supernova-forming FPP. Even though it was a commodity play–which I hate–and an earnings play–which I also hate, emotion got the best of me as I shorted 1,500 shares at $3.92, expecting the wall of sellers at $4 to hold and for me to scalp my way to $300-ish profits rather quickly.
From the get go, FPP didn’t cooperate, holding steady near its highs, within 5 minutes taking out the 15k sellers at $4 and surging straight to $4.25….as this was happening, all its fellow oil and gas plays like PDO and MXC were making ridiculous runs, so FPP seemed the cheap way to get in on that momentum–aka the upside appeared bright.
My Latest AOL Finance Article, Some Seriously Good Advice
You Can check it out right HERE
This was written last night and I basically nailed all the top percentage gainers today….too bad AOL didn’t publish it until 1pm, but that’s what I get for submitting a 2am article on a Monday as it’s there busiest day…
Best/most useful quote form the article:
For now, let these kids play-some are even good to play form the long side, if you’re willing to take on that kind of risk (not me!). Call them in from recess-or short sell them-only when it begins to get dark outside
The Right & Wrong Way To Short Sell A Fraud Like Kentucky USA Energy Inc. (KYUS)
Yesterday, a day after failing to be too aggressive with shorting known fraud CNEX, as it plunged from $7 to $3 and my readers made thousands of dollars, I saw a morning dip on fellow pump and dump/known fraud KYUS and shorted into it, 2,000 shares at $2.37. Although hugely manipulated, it was only up $1 or so—no $1 to $7 action—but I was afraid I was gonna miss out on a possible 50 cent drop. Not only did this trade break my trading rules—wait til the friggin afternoon you lil bitch!—but I let a prior trade influence a current one. Two major mistakes, so I deservedly was forced to cover into the late morning spike, at $2.56, rubbing the typical morning fakeout breakdown in my face. So, I finished the day with a loss of $413, after commissions, now nearly $1,000 of my highs just last week.
Today, with the stock opening slightly higher in the $2.60-$2.70 range and a morning meeting to work on TIMtv, I made sure not to even consider shorting until the afternoon. Not even when I saw it tanking to $2.40, just as I was walking out the door, was I tempted to short the 3,000 shares I reserved—if I missed it, I missed it. (that morning dip turned out to be yet another fakeout)
But by mid-afternoon, while still in the studio, after some solid sideways price action barely clinging to positive on the day, I saw the stock go slightly negative on the day and I said to myself, “this is a worthy pattern to short into.” I missed the initial drop as it just fell too quickly to $2.50, but I thanked my lucky stars that it bounced right back near the unchanged mark, just as I shorted 2,815 shares (135 shares didn’t get executed) at $2.58.
A Short Seller’s Dozen: What Stocks Get Pumped, Must Come Down, Usually
VRML Short 1,300 @$3.75
LGDI
SUNV
Getting up bright and early, I reserved shares in all three of these stocks to possibly short today, not knowing which I’d actually short. LGDI didn’t even trade for 5 minutes and when it did, it moved slower than an under-cooked lobster. SUNV didn’t breach the key $1.20 level until the afternoon (when I had no trades left), so it was all about VRML.
I wanted to short into strength cuz it was a classic short covering rally from yesterday’s $1.75 pullback off the highs…given the magnitude of the declines and that it’s still up 300+% in a few days—on an ill-researched story thinking this near bankrupt company will do anything but go under—meant short sellers would be aggressive. Afraid I’d miss the probable pullback, I jumped the gun too early, shorting 1,300 shares at $3.75…as I watched it hang around $3.90 x $4 for another 30 min, I wasn’t very worried as the big buyer blocks were only on the bids—the wall of sellers at $4 never in danger of cracking—a clear sign of pumpers trying to scare up buyers/short covering…inevitably, the volume faded, the bids disappeared and the stock spent the day chomping gradually away at its early gains, few buy orders at the ask. I’d call it a perfect crack of sideways price action in the $3.60 range, but it still managed to finish up on the day, so it’ not totally perfect…just yet.
Despite my poor timing, I’ve got a nice $380 profit so far, I let it ride overnight cuz I think it goes under or around $3 today or tomorrow, possible big stop loss panic if it take out $3, might get to cover at $2.60-$2.75ish if I’m lucky.
VNDA
Nice gradual fade, but not my ideal PennyStocking short, too tight a chart/variables not fraudulent enough to squeeze one in
BDCO
Everyone’s goin crazy over an 18 cent gain, leme know when it gets to $3, until then jewwwww noooo
How I Screwed Up These Two Near-Perfect Calls To Sell Short
Take a look at my latest two trades—shorting 1,200 shares of probable-fraud spam-happy BSHF into a morning dip at $2.55 and 1,000 shares of failing business-so-let’s-float-a-takeover-rumor VM into a nasty slightly negative close yesterday at $4.01—both of which tanked 15%+ within a few hours of market action of my shorting. Great calls to be sure, but I somehow managed to screwed both up–and judging from the comments, I’m glad many of you guys did better!
Unfortunately, the BSHF pattern appeared the day before this new website went live and since it didn’t tank in the early morning EXACTLY like I wanted, I covered for a $75 loss since I had a million things to do to make the launch. Didn’t feel guilty about it until later in the day when it tanked 50 cents/share in a perfect representation of a spam stock falling apart! Sad sad sad, but one of those rare unavoidable situations.
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| July 23 | MKTY | $4.73 | $5.40 | $187 |
| July 22 | MKTY | $4.10 | $4.28 | $240 |
| July 21 | ZYXI | $3.03 | $3.18 | $130 |
| July 15 | MNLU | $6.37 | $6.73 | $340 |
| July 11 | IDAE | $2.27 | $2.49 | $630 |
| July 8 | ERII | $11.29 | $11.00 | $162 |
| July 3 | TGC | $2.14 | $2.39 | $471 |
| July 2 | HYGS | $2.15 | $2.29 | $260 |
| July 2 | TGC | $3.44 | $3.49 | $80 |
Total: $22,457 (
81%)
