Trust No Financial Blogger, Message Board Poster, Website Or Service Provider
Posted by timothysykes on Thu 29th of May, 2008 12:04:51 PM
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Lately I’ve been seeing a ton of talking heads, bloggers and message board posters touting their winners and playing down their losers. It seems as though just about everyone is an amazing traders/investor as their skill/ talent is downright amazing!
I call BS.
Very few people in this industry are talented at anything other than lying, manipulating, promoting and cheating. Everything you read—and I do mean everything—is guesswork. Nobody other than Buffett knows for certain that their strategies and theories are correct, but in this game, you gotta appear confident at all times. Every day you have people picking random stocks and making wild economic predictions, always careful to position themselves as experts so as to ensure demand for their services and the income they can must from that delusion.
This is no different than the hardly-human-anymore-scumbags over at EliteTrader who lie, each minute, about their trades and lives as they are the kinds of soulless bastards that represent this joke of an industry. It’s downright detestable for we know 90% of traders lose money and that 70% of professional fund managers fail to beat the indexes each year, so people who spend their time writing and commenting about the market—just about always using some corny alias or afraid to link their Facebook profile—aren’t any better. In fact, since they waste so much research/trading time writing and commenting everywhere, their actual results are probly far worse!
Don’t believe me—good. Learn to distrust everyone and you’ll be better off.
(Of course, I do use my real name, am one of the top ranked on Covestor and detail my losses openly cuz they’re great teaching tools, but I have a different prospective than most. I also am profiting for my openness through my book An American Hedge Fund and instructional DVD PennyStocking)
You gotta wonder about those who “share their expertise” when they have no product to sell and Adsense dollars suck—at least for finance cuz industry scumbags have made this an unpopular subject, at least in comparison to gossip, cooking, sports, movies, making money online, basically every other profession in the world—and you gotta worry even more about those who do sell products and still don’t share openly. What are they hiding? Why can’t they blog or write each and every day if they’re so sure of their expertise? Why can’t they prove what they talk about in real-time?
Yeah that’s right I’m talking about all you FRAUDS selling newsletters, premium chatrooms, tools, books, DVDs and you message board posters who like stroking your own egos to feel better about your mediocre/below-average or disastrous results and your mundane/meaningless lives—basically 99.9% of this screwed up industry!
The best and brightest don’t talk or tell anyone, they just profit quietly. For those of us who have big mouths and wanna show off our skills the only solution to use services like Covestor, Cake Financial and Zecco that not only verify our returns, but allow people to see ALL our trades, investments, entries, exits—everything. This way when we screw up, there is no hiding it.
Otherwise, your word means zilch. It means less than zilch cuz whatever comes out of your dirty mouth is probly harmful to others. This isn’t America, this is the internet and here you have no rights whatsoever—especially in this financial niche cuz of the lack of ethics among all theplayers. Down here in the gutter—yes, this entire profession, not just Penny Stocks , is in the gutter thanks to all these industry rats—it’s a crime scene where there are muggings (amateurs buying into message board pumps), rapes (amateurs buying expensive subscriptions/courses/tools) and murders (people losing all their money and sometimes more thanks to BS advice and leverage) each and every day. Picture SoHo in the 1980s.
I won’t name specific blogs/companies/people—you FRAUDS out there know exactly who you are and all you readers have to do is go to any site and ask for total transparency/proof that the blogger/publisher/guru/piece of s$#@ is as successful as they say they are—think audits and track records—isn’t lying with every breath they take or word they type. It makes me sick to my stomach to see what people are willing to do for a little bit of cash—since this is a new world, I’d imagine it’s quite similar to how some soldiers took advantage of lax rules during the Vietnam War, murder and rape-wise.
Think I’m overly cynical/blowing this out of proportion? Hell no! You have no idea the amount of corruption/manipulation that exists beneath these professional looking websites (not that many are).
That’s it, I gotta go to the bathroom and puke. I’m thoroughly disgusted, nothing in particular spurred this post, it’s just been a gradual welling-up of this “I’m mad as hell and I’m not going to take it anymore!” feeling. Too much garbage for any one person to clean up…although I’m gonna try.
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 20 | STXS | $3.21 | $3.48 | $813 |
| Nov 18 | PERY | $4.68 | $5.00 | $640 |
| Nov 11 | IIJI | $2.79 | $2.95 | $442 |
| Nov 6 | CVI | $4.42 | $4.70 | $530 |
| Nov 5 | MECA | $3.68 | $3.95 | $490 |
| Nov 4 | CVI | $5.18 | $4.94 | $472 |
| Nov 4 | CVI | $4.83 | $5.01 | $333 |
| Nov 3 | NAK | $3.30 | $3.37 | $157 |
| Oct 31 | IDAE | $2.18 | $2.18 | $20 |
| Oct 30 | HSNI | $7.37 | $7.86 | $561 |
| Oct 29 | EVC | $1.97 | $2.70 | $1439 |
| Oct 28 | HSNI | $6.92 | $7.30 | $540 |
| Oct 28 | HSNI | $6.20 | $6.00 | $320 |
Total: $35,854 (189%)
Tim,
Just added you on my blog at
http://stockmarkettotheminute.blogspot.com
like your no bullshit approach to trading; personally I think your site will do well.
Asia multi day breakout!!!
Awesome Post, very True…and you will clean it up.
Timmy,
I’m sensing a cry for help. Let me get this right….you are the light….the only person who can be believed?
Don’t play stocks that are low volume. Tim, explain to these students of yours not get caught up shorting or going long pump and dump plays from the lion. Top guys at the lion accumulate shares without telling anyone then go on a pumping binge. You’ll know they sold when they stop the pump on the plays. They usually are low volume and very low float so their followers can manipulate the prices. The traders on that site are making a lot of money on the backs of their stupid followers. Those guys have the portfolio to trade big cap stocks as they should but they don’t have the talent so they stick with their pump and dump strategy. Lionmaster has been pumping a POS called IMB for 2 weeks now. Don’t short or go long stocks with 50 cent spreads and 50K volume.
i’m no BS artist, i just call it like i see it…as far as i know i’m the only one who details losses so throughly…u know anybody else, i’d love to read! seriously
Real talk Tim.
Love it.
tommytim, i love shorting thelion.com pumps, just gotta get good entries but the odds are greatly in your favor due to all the fickle daytraders
Difference between you and those guys is you’re not a scam artist. You’re the real deal. You had PDO nailed at 5. It eventually became a 5 bagger in a week had you gone long. I don’t care if you made money on it or not the fact you spotted that and MXC before any other message board is what I call talent. Tim is a solid guy to go into teaching rather than trading where his talent and bankroll would be much more financially lucrative for him. Keep up the good work. The other sites are pure garbage next to yours.
Lost about $100 on mxfd…oh well, only entered small position so I wouldn’t tie up all my funds, I’m in the process of transfering my funds from Zecco over to TOS. Tim, I used your name when asked how I heard about them. Gonna keep both accounts open to maximize my options. I agree with you about sharing trades. I thought I sucked at trading until I realized most claims of phenomenal returns on those message boards are probably fake. I’m listed on Zeccoshare, showing off my 22% return…(i guess i don’t completely suck) Anyone else on Zecco, I’m listed as 3WishFund.
no shares of BWEN @ TOS
EXACTLY tommytim…most of short picks are great longs before they become shorts, every small runner goes onto my watchlist so before its time to short, odds actually favor longs
Tim,
Justa thought. How about setting up a live chat room - no audio necessary. There are several free ones out there (Hitthebid.net); however, I would be willing to pony up a fee per month to keep it going. I’m sure others would find it financially worth it to do the same.
Well I can say that I’m completely honest about all my trades and my gains/losses. I’m a member of covestor and my username there is YngvaiMalmsteve. I just started trading towards the end of April. My 1st month (up until May 20th) sucked….lost nearly $900 on my small $2700 account. But I count that as tuition and learning the game. Made a lot of mistakes but it’s helped me create my rule list.
Since then I’m doing better as I’ve tweaked my rules list. Up this morning almost 7% from May 21st, and my stats are looking better. Although I f’ed myself today….lost $100 chasing MESA intraday today…that’s what I get for breaking my rules. Even after that f’up, I’m still up nearly 4% in 6 days.
Really pissed at myself right now for that MESA trade….stupid stupid stupid
JeffM I have my coverin at 4.43 for FPP right now and hope to get it executed for a $400 scalp.
No BS
I lost money today, I set my limit orders too low. The TIM strategy must be followed with precise execution or your margin account will pay!
If 90% of community here comes together we will own phucking PennyStocking.
I can see it now, Tim Sykes as the chairman of a revolutionized trading empire.
Even a change…maybe extended trading hours.
JRJC blew away estimates and upped guidance. Could it make another run in the 40’s like last year? Currently up almost $3 on the news.
i like the revolutionized trading empire part, but in no way shape or form were u pennystocking today…if u had the dvd u’d know i dont focus on crappy scalping opportunities–even when i screw up and take scalp-like gains…i focus on these plays only when they’re up huge, not after theyre up huge and down huge…thats why my odds of success are higher than the 90% of trader who don’t know what the hell theyre doing
MXC is close to support and if that cracks then it tanks $3+….can’t find any shres though
Tim whats the deal with KOSN ????
What do we think of SYMX?
the deal with KOSN is u should read my last blog post or type in the damn ticker in any financial portal and read the news
I did read your last blog post where you said trading was halted…..now trading has resumed…..was looking for your input now that trading has resumed
AF there is no need for any input. The company was bought out at 5.50. End of story!
also said it was probly a buyout and that was the news…u dont trade buyouts, they barely budge
Damn MESA is all over the place today with all sorts of news coming out. And now I hate to see it back in the .80’s when I took a $100 loss on it :(
If JRJC closes at the highs you can bank on a several point gap up tomorrow. It’s a near perfect trade with little risk on the basis it closes near the day highs.
Hey Tim,
Just finished watching the whole season 1 of WSW & i tell you i am much impressed. I am a total newbie and have yet to trade but i have done lots of research and ran into many traders just one like you and you seem to be the best.
I have bought your audio book and ready to finish it soon.
A previous refference of DaytraderRockStar, i have followed his strategies and he doesnt seem to be making money.
Anyway good job on entertaining and educating, oh btw, do you know any where abouts of the girl name Shehnaz Hussain? I would love to learn something something from her as well.
Hey TommyTim thanks for the heads up on JRJC. I bought in at $27.53. Probably a bit early to buy….probably should’ve waited until the last hour or the close but this looks like a solid trade
I have some NTI reserved but I hate the chart action. I don’t see anything else today worth playing. Guess I won’t trade today.
Jeff get out and take your profit. My executed when I was not paying attention got another $440 on it. Not a bad day.
I wouldn’t trust any site/blog/newsletter that didn’t have a proven audit trail. Even then I would be skeptical of any huge claims. I run a blog but I don’t run my mouth. I prefer to call em as I see em and totally agree with you Tim.
Webster, sorry I’ve been working. I got out at 4.45 for a .09 gain per share (2000 shares). Not a great day. Oh well, $2500 two days ago, $4100 yesterday, I can sure handle a $1400 loss today.
TommyTim, JRJC looks good for a pop tomorrow after earnings. I just bought 500 shares at 27.10 and will be averaging down with another 500 if it continues to fade.
As I sit here not trading due to stupid SEC rules, I can’t help but try and pass the time in other ways. So while poking around the web I (re)found this little gem.. I think this is the type of guy that Tim is talking about on Wall Street.. Actually, what do you think the chances are that this was written my SykesHater1?
http://www.thephatphree.com/fe.....ctionID=11
Tim great post again. You just keep it coming and shoot it is straight. Thanks for being who you are.
nice post tim. i just dont like attention, its the only reason why i mailed you rather than post it on your blog. i liked the facebook link (please keep it like that), i really felt my pulse going up! but it was an awesome experience, and in fact a lesson learnt (dont trust financial bloggers!). as you can see i have the balls to use my real name at least, so it wasnt difficult for oyu to figure out who i am.
as you were able to see for yourself im definately not the brightest and certainly not the oldest, but i like patterns.
i never said i was going to be the next buffet in the making with that strategy. buy breakouts and sell breakdowns. i observed the same as you in pennystocking. in fact your strategy made me look waaaaay closer at those bigger ones. i thought thats why you might wanna be interested. i dont care what the company does beacuse nobody but the insiders really do know whats going on.
but there is predicatable price movements and i would like to keep in touch with you via mail and explain the strategy if you are interested in how people can profit from those big ones. if you think my strategy would be worthy a post i agreed on that you can do that.
all i know about trading is from books you have listed on this website.
my convestor is going to be up whenever i have a real account. i realized the foolishness of the “challenge” offer, trading isnt about it.
if you would like to hear about my strategy tim and check it for yourself, i’d be willing to share it with you. i just dont want the publicity, please respect that.
JRJC showing some resistance at $28
KYUS held $2.75 level twice, that may be support for today, decent volume still, probably dries up next week but most of the move is done
MXC I agree Tim, if it loses LOD it could take out some stop losses towards $28 quickly.. $30 is possible
PEIX what a turd
ok i am in JRJC right now and it’s goin down?
jrjc very risky, up 30% in a few days, right at breakout point, plenty of overhead resistance, good luck suckas, u’ll need it cuz u got no odds whatsoever
JRJC lot of news driving this - earnings no? isn’t that a big no no in timmmmmmmmmmmays teachings
guys JRJC are you shorting?
nah these knuckleheads are buying….morons think that cuz they made money on my supernovas, they think they can just trade any stock any time….NOPE…welcome to the game gentlemen, 9 out of 10 thoughts in your little heads are wrong.
I have a Newbie Question regarding JRJC. What happened exactl at 1:15 p.m. today that it spiked from 24.80 to 27.80? I am still learning so i am trying to find a trend here. I appreciate any help.
they reported earnings! how can u be trading a stock and not folow the news…holy hell this is what newbie traders thin like…get my dvd, no more questions until u do
lol…they reported earnings in the middle of trading.
averaged down at 2.6799
Tim,
I know you scalped NTI for a few hundred and I stayed on the sideline because I knew the timing would have to be right on. Even though you have scalped this the past couple of days, you would still advise waiting to short into the afternoon fade towards the close on the first down day right? I scalp sometimes as well but I usually end up concluding that you need to be over 25K to make it work often.
Why touch JRJC? At least wait until the close to see if it looks like it will gap up tomorrow.
Since when do companies report earnings during trading hours lol