Short Selling Penny Stocks: Decent Profits But The Mistakes Remain
Late Wednesday, when I posted this article predicting a 25% drop in (PSTI), I thought it’d be over and done with by Thursday. But that move didn’t complete itself til today, my baaaaaaaaaaaaaad!
Can’t believe I covered my short above $4, too much of a lil bitch to hold this sucka. Sure, hindsight is easy, but look at the eerily similar price action after the last spike…probly more downside Monday. How about this, I’ll just go on predicting, you guys handle the trading, deal? :)
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Sept 4 | COIN | $5.70 | $6.21 | $745 |
| Sept 3 | COIN | $6.49 | $6.30 | $305 |
| Sept 3 | COINW | $2.75 | $2.85 | $180 |
| Sept 2 | TAYD | $7.51 | $8.13 | $545 |
| Aug 18 | FOUR | $2.80 | $2.66 | $342 |
| Aug 14 | APII | $2.66 | $3.30 | $1261 |
| Aug 12 | APII | $3.25 | $3.40 | $285 |
| Aug 7 | NOBL | $5.02 | $5.49 | $680 |
Total: $26,508 (
114%)
1BenBien
April 11th, 2008 at 9:55 pm
Tim, I’d like to start pennystocking after having read many of your recent articles on this site, but my brokerage will not approve me for a margin account. Do you have any tips or thoughts? I only have $6,000 in my account and I’m just a student, so they declined me when I applied for a margin account. Please let me know if I need to switch to your beloved ToS if I can get a margin account there. Thanks a lot.
Regards,
Ben
P.S. I don’t plan to start shorting until I read more about the techniques and technicals behind it. I want to get better at calling these low’s and make some more money so I can buy your DVD and trade using your much more scientific method of calling spiking POS stocks.
2timsykes
April 11th, 2008 at 10:06 pm
switch to TOS u should be able to have a margin account, ask them first
3sonid
April 11th, 2008 at 10:50 pm
deal man, covered at 3.70 for a nice 19% gain
4bsl113
April 12th, 2008 at 12:01 am
Still shorting this (PSTI) turkey!
5bsl113
April 12th, 2008 at 12:10 am
Here are some links to the clinical trial process. PTSI’s press release is about getting results in rats. You be the judge…
http://www.fool.com/investing/.....art-1.aspx
http://www.fool.com/investing/.....art-2.aspx
6Fleeter
April 12th, 2008 at 1:33 am
Experience teaches us to be fearful. Dancing in the fire and all.
Grand show for the week everyone. Thanks Tim, thanks guys. Goodnight.
7InvestorsLive.com
April 12th, 2008 at 1:37 am
Nice play there Tim, so what.. u missed some gains.. but did you profit? yesssssss
8Mike T.
April 12th, 2008 at 4:55 am
That coma theory you had a few days back would have worked nice…
9Joe
April 12th, 2008 at 5:01 am
Tim, what you should do is check how stocks move after you unwind your positions to see if on average it would have more profitable to hold them I think it would be.
10Dinosaur Trader
April 12th, 2008 at 8:30 am
Catching the “fat middle” of a move isn’t a way to the poor house, anyway, nice trade.
Anyway, there’s something missing from your poll about what people want to see on your new site… I think you know what I’m talking about.
-DT
11timsykes
April 12th, 2008 at 10:56 am
DT, i’m a big believer in the fat middle, but sometimes, u just gotta say based on the chart and previous spikes, there’s a 99% likelihood of this thing going lower, lets risk it
and whats missing form my poll?
12Dinosaur Trader
April 12th, 2008 at 2:26 pm
People want more links to the VO Timmay… they want more VO.
The VO is like sex, drugs and rock and roll combined.
-DT