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, … Continue reading
Tag Archives: Decent Trades
Why You Can Buy My Short Picks Too aka My Northern Technologies International Corp (NTI) Trades
May 29, 2008 at 2:59 pm by Timothy Sykes
Stocks To Play Today & How To Balance Work And Trading
May 23, 2008 at 9:22 am by Timothy Sykes
Took a quick $300 hit this morning, covering my overnight short of PDO for a $1/share loss…just can’t trust these oil plays to rise/fall apart like textbook Supernovas because they’re tied to the price of that commodity. Add in the stocks’ illiquidity, the necessity of taking small losses on my tiny account and since I’ll be prepping LiveStock (remember to tune in HERE at 2PM EST!!!) for the majority of the day today and it wasn’t really a question of me covering for a loss—only the size was in doubt. Whenever there’s a morning spike like this, you can usually get out for small losses—some times even small gains—because after such a big quick drop, there’s still an overhang of … Continue reading
Stocks To Play Today & How To Balance Work And Trading
May 23, 2008 at 9:22 am by Timothy Sykes
Took a quick $300 hit this morning, covering my overnight short of PDO for a $1/share loss…just can’t trust these oil plays to rise/fall apart like textbook Supernovas because they’re tied to the price of that commodity. Add in the stocks’ illiquidity, the necessity of taking small losses on my tiny account and since I’ll be prepping LiveStock (remember to tune in HERE at 2PM EST!!!) for the majority of the day today and it wasn’t really a question of me covering for a loss—only the size was in doubt. Whenever there’s a morning spike like this, you can usually get out for small losses—some times even small gains—because after such a big quick drop, there’s still an overhang of … Continue reading
Buying Stocks Like Mexco Energy Corp. (MXC) Works Too…If You’re Quick
May 22, 2008 at 1:32 pm by Timothy Sykes
As you know, I want to teach you how to profit from all these sketchy low priced stocks, from the long AND short side, but since I’ve got about a dozen projects that interfere with my trading and considering I suck at going long, every now and then, I’m gonna bring in some posts from other traders/writers from whom you can learn a thing or two. So, get ready this site is gonna increasingly become Seeking Alpha except that it won’t suck as there won’t be thousands of unqualified people writing about thousands of different stocks—now you’re gonna get just a few select views on a few select stocks, the only views and stocks that really matter to PennyStocking. That … Continue reading
Buying Stocks Like Mexco Energy Corp. (MXC) Works Too…If You're Quick
May 22, 2008 at 1:32 pm by Timothy Sykes
As you know, I want to teach you how to profit from all these sketchy low priced stocks, from the long AND short side, but since I’ve got about a dozen projects that interfere with my trading and considering I suck at going long, every now and then, I’m gonna bring in some posts from other traders/writers from whom you can learn a thing or two. So, get ready this site is gonna increasingly become Seeking Alpha except that it won’t suck as there won’t be thousands of unqualified people writing about thousands of different stocks—now you’re gonna get just a few select views on a few select stocks, the only views and stocks that really matter to PennyStocking. That … Continue reading
Controlling A Stupid Trading Mistake Means An Opportunity Lost
May 6, 2008 at 8:47 pm by Timothy Sykes
Despite my rather long list of potential plays I posted this morning, I had two clear favorites—LGDI and VRML—two sketchy and failing, respectively, penny stocks that were up in excess of 100% over the past few days on fluffy news, a contract and a poorly researched NBC video claiming this near bankrupt company was gonna cure Ovarian Cancer (seriously, I can’t make this junk up), respectively again. So, at 7am (early bird gets the worm), I dutifully reserved 2,000 shares of each stock to short—as both were hard-to-borrow—putting my limit orders waaaaay above (or as high as my buying power would let me) their current price, LGDI at $5.49 and VRML at $3.99, intent on ratcheting the down if and … Continue reading
A Decent Profit From The Airport Lounge, Now I’m Up 50% In 6 Months, Jewww Yahhh!
April 28, 2008 at 4:35 pm by Timothy Sykes
First time around shorting sketchy-100-year-old-oil-company-that’s-watched-the-world-go-by PDO, I barely made anything before it spiked hardcore and proved itself to be a full fledged Supernova, squeezing those stubborn short sellers who didn’t purchase my instructional DVD PennyStocking (or else they’d have cut their losses quickly) and putting the stock on my back burner as a potential short. So why today—when I knew I’d be hopping all over the place on planes, trains and automobiles during market hours—would I look to trade this sucker? Simple: cuz I’ve got years of experience trading while traveling and considering this is the 3rd day short-squeeze-induced runup inside of a larger 8-day commodity-related runup, the odds favored an intraday breakdown of some kind—large or small would be … Continue reading
A Decent Profit From The Airport Lounge, Now I'm Up 50% In 6 Months, Jewww Yahhh!
April 28, 2008 at 4:35 pm by Timothy Sykes
First time around shorting sketchy-100-year-old-oil-company-that’s-watched-the-world-go-by PDO, I barely made anything before it spiked hardcore and proved itself to be a full fledged Supernova, squeezing those stubborn short sellers who didn’t purchase my instructional DVD PennyStocking (or else they’d have cut their losses quickly) and putting the stock on my back burner as a potential short. So why today—when I knew I’d be hopping all over the place on planes, trains and automobiles during market hours—would I look to trade this sucker? Simple: cuz I’ve got years of experience trading while traveling and considering this is the 3rd day short-squeeze-induced runup inside of a larger 8-day commodity-related runup, the odds favored an intraday breakdown of some kind—large or small would be … Continue reading
The Old Morning Drop Following The First Down Day After A Big Runup Trick
April 24, 2008 at 3:28 pm by Timothy Sykes
Going into today’s session with my overnight short of PDO, I was confident, if not ecstatic because I’d shorted into the first negative day of a decent-sized runup, even if it was KOG-like commodity play. At the market open, volume was very very light—5,000 shares in 10 minutes and yet when sellers took out the one bid at $6.20 that took it all the way down to $6.01…I didn’t want to cover right away as I thought it’d take out $6 and then stop loss selling might cause some panic, but bids piled up at $6.02, then $6.03, then $6.05…screw that, I covered at the ask at $6.15, making $27 after commissions. Afterwards, some more sellers did come in and … Continue reading
Minimizing Trading Losses: Two Overnight Trades That Didn't Go So Well
April 19, 2008 at 9:46 am by Timothy Sykes
From a few days ago, just hadn’t gotten around to writing about it…as I mentioned HERE, I shorted 2,000 (KOG) at $2.75 near the market close when it cracked sideways price action so I thought it’d go negative on the day—I was right that it did go red, but I didn’t take my 10 cents/share gains cuz I wanted a big drop—not a pesky $180 profit. Unfortunately, I had a flight to catch the next morning… Took a later flight to watch the market open—wasn’t comfortable at all since it opened above the sideways price action crack of $2.80, covered at $2.82, a $160 loss including commissions. Screw that, played I safe…I can take $160 losses all day long. Later … Continue reading
