Why You Can Buy My Short Picks Too aka My Northern Technologies International Corp (NTI) Trades
Posted by timothysykes on Thu 29th of May, 2008 02:59:45 PM
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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.
So, putting that thinking into practice, I looked to short into any ridiculous morning spikes, morning panics or afternoon fades (no afternoon spikes or gradual rises…there is a difference, it’s called getting the odds on your side!). Yesterday, while I knew I should wait to short in the afternoon…as the action is much less risky, I shorted 500 at $11.70 because it’d already dropped down to being negative on the day below $11 and I thought this was just a lucky bounce. Considering the spread right after I shorted $11.25 x $11.70, it appeared as though as I was right so my goal was to cover under $11…a few minutes later when buyers steeped up at $11.25 and the ask was $11.30, I decide not to risk it–after all, I hadn’t been disciplined enough to wait for appropriate price action so I took my 40 cents/share gain, covering all at for just under $200 in profits.
Stupid scalp. Patience Timmayyyy, patience!
Turned out to be a good cover since an hour later, with heavy Superman posting, the stock spiked up to $14.40 on pathetic volume of about 50,000 shares–my god this is a sleepy stock aka doesn’t take uch more than one message board to get it going…I waited til the buying ceased and a wall of sellers crowded in behind e just above $14–believing it to be a short squeeze that would surely be the end of all buying–shorting 350 shares at $13.65 and $13.55 taking that level out…predictably, a few longs thought this to be the end too and the price tanked to $12.80 x $13….I wanted to hold, but we’re talking tankage on like 5,000 shares traded…screw that…covered at $13 for another 60 cents/share, total profit of $380, done for the day with too much trading.
Obviously an easier way to make $ would be to just buy 500 shares, let Superman’s followers buy in, sell for $2, 3, 4/share profit! But not me, I’m a penny stock short seller, I like to make profits the tough way.
Today, I thought it must surely be the end, so when it failed to do anything at the market open, I shorted 300 shares–small position due to me being wrong the day before–at $13.40…again, a slight panic to that now proven as being ey $12.80 x $13 area…big buy blocks moved in, stock didn’t look like it’d crack big, I covered into a 1,000 share sell block at $13, for a sad little profit of $105.
P A T H E T I C
And yet it was a good cover as the stock spiked again to $15 and now is falling back languishing in the $14s. You see I’ve been dead wrong about this stock and yet I’ve made about $500 cuz I used walls of sellers, the spread and typical trading psychology to my favor. If you don’t wanna do any of that, just buy these stocks that are getting pumped–be careful though not to be late cuz as NTI will surely prove in a few days/weeks–no different than GBR (particularly this one), PDO, FPP, ROYL, MXC–surging stocks usually reverse (as long as its not earnings/buyout related)…me, I gotta conserve my trades on this one cuz I don’t wanna miss the probable $2-3 drop that will surely occur within an hour…as to what day, who knows, be better than me and wait to short only on the first down day.
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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%)
jrjc reported earnings in the middle of the trading session because they were scheduled to release them at midnight (12:00AM) CHINA TIME which was 1PM our time.
ENVI could be the most manipulated stock of late boys n girls, while MESA could be a short candidate nearing resistance, peanuts and bloody mary sir? Light em up, cause it’s goin down…Yngvai, we’re on the same page
still..midnight!…that is odd too or did i miss something?
Is CPSL going to fall.. what is your guys think I was out earlier today when it fell .30 from 6.01
and haven’t check until now..
what part of JRJC did they not like..it is down 3 cents as i type?
that was a perfect afternoon trade but it was an earnings play and that scared me.
China Finance Online to Report Q1 2008 Financial Results on May 29, 2008
6:00a ET May 20, 2008 (PR NewsWire)
China Finance Online Co. Limited (Nasdaq: JRJC), a leading Chinese online financial information, data and analytics provider, will announce its first quarter 2008 financial results on Thursday, May 29, 2008 after the close of the U.S. market.
DId i read something wrong?
Charlie G. just said Bullshit on CNBC!
Well I broke another one of my trading rules today. I have a rule not to buy anything until the last hour of trading. But I rushed into to buy JRJC. Nobody to blame but myself on breaking my rule. Stupid, stupid. I am figuring psychological support at $25, so my stop is at $24.74, which would be a 10% loss on my position (my max loss that I allow myself for any trade…although typically I only allow around 5%) if it goes down there…but I’m going to give this one a chance overnight based on the earnings report.
I’ve just revamped my rule list, and put in CAPITAL LETTERS not to buy anything until the last hour of trading. Would’ve never even gotten into this trade had I followed that rule.
chinese firs can do whatever the hell they want…and never ever buy or short an earnings stock right after earnings, its gonna have wild swings that are wildly unpredictable…i really need to push my dvd harder cuz u guys are making stupid mistakes
i love charlie! he is revved (sp?) on coffee. my TD acct. says JRJC conf. call today, earnings tomorrow?????
you’re gonna give it a chance? WTF?!?!?! i’m about to kick u off this site, go play news plays/random stocks/random patterns somewhere else, u’re giving pennystocking a bad name!
Kris.. Exactly. They released their unaudited earning, whatever that means.
I had it in my rule list to never short something after earnings. Now I’ve added to my rule list to never buy something after earnings.
i hope JRJC goes down to $5, u guys need some serious scarring, u seem to think this is a game with no rules
Tim, if I close this trade out now, I’m going to get f’ed on the daytrade rule.
u dont even look at the news before u trade a stock?!?!?!?! i cant believe this, u guys must be like 5 year olds U SHOULD KNOW EVERYTHING ABOUT A STOCK BEFORE YOU PUT A DIME INTO IT
MAYBE U SHOULD GET RESTRICTED FROM DAYTRADING, U NEED A TIMEOUT, RIGHT NOW THE ODDS ARE ABOUT 50/50 OF WHAT THE HELL ITS GONNA DO NEXT
My bad Tim…Earnings suck. Holding overnight for that potential wild swing though.
Tim, you say I’m giving pennystocking a bad name, yet I’m being completely open and honest about my mistakes (just like you are)…which will help other people avoid the same mistakes. You can’t tell people who are admitting to mistakes that they are giving pennystocking a bad name…otherwise you would be doing the same thing when you admit your own!
Tim, CPSL… whats ur input..
Charlie G. just said Bullshit on CNBC!…. rewinding the TIVO!
i’ve had my discipline problems but theyre at least on the right stocks, i dont go off base and play some random ass stock not know whats caused the moves
cpsl probly a good short, but i havent researched it heavily enough to say for sure
Fuck JRJC.
Tim,
A few things:
1. Do you have your eye on VVUS? I have held short since last night, was wondering if you were on top of the first down day today for a trade in the morning.
2. Live chat room on your site - I am willing to pony up change to make it happen - I am certain others would as well
3. You should market “Mentoring” as part of your marketing effort. I am sure there are those out there that would like to stop by your “office” and shadow you for a day or two.
MXC new low of day
Anyone re-shorting ENVI tomorrow?
Sorry about JRJC guys. I pointed to only trade it in a long position if it ended the day on its highs. This way you’d pick up momentum into the next day. Buy a minute or two before the close. If it doesn’t gap up in the morning it’s an immediate sell. SINO worked out this way. If a stock doesn’t close at highs of the day it has no predictable pattern to make a good trade into.
On a side note, the solars are getting destroyed. ML put out downgrades on news that Germany would kill some of their solar subsidies.
In the interest of contributing (and reclaiming the #3 TIM bucks spot) on a day when I can’t trade, I present my very simple rules for trading. These are a work in progress, but hopefully they help some noobe. Feel free to critique away:
0) NEVER Chase a trade
1) Research each stock/trade at least one hour (can be less if gotten from a trusted source)
2) Pick entry and exit (gain/pain) points before you execute trade
3) Be aggressive with entry point and execute trade
4) Set stops (especially if you may have to leave your computer)
5) Don’t be greedy, but let your winners run..
you people really are retarded.
JRJC did NOT officially report earnings midday, they screwed up and posted them on their website by accident.
I won’t post about the money I made because I was lucky enough to see that within seconds cause you won’t believe me anyway
Tim is right, pay attention, this isn’t monopoly money you are playing with
SWAT…. $1.40 this morning, $0.84 this afternoon and dropping like a rock into the close. hehehehehehe NOT BAD!!!
I do recall someone making the call on this yesterday afternoon, hhhmmmm, who was that guy??
:( I covered half of my short, 680 loss. I didn’t want to risk a margin call.
That’s the real reason our boy Timmay doesn’t hold. He knows about gamblers ruin.
Be_ball don’t be an anus. Companies don’t accidently release earnings. Many small comapnies release earnings midday. I caught the earnings play exactly when it came out from a flyonthewall alert. Didn’t trade it though. Stop lying about your trades my friend you’re a disservice to this site. Everyone is here to help each other not throw insults or brag about fantasy trades.
Yngvai, are you going all in with your small account?
Sniper, nice news call, predictable.
Tim,
Watched your Friday video recording, got a phone call, and wtf, couldn’t pause the video. BTW, it was a great recording, especially laughing watching Puffy…classic. Am I missing where the controls are on the vid player? Any help peeps?
Seemed to have found them on the ON DEMAND clip…not the streaming. Due Diligence….
TommyTim,
Actually they did accidentally release earnings. Email the company and ask, they will confirm it for you. Or read briefing.com, they will confirm it for you.
Bragging about a fantasy trade would be posting $. It was a good trade.
Subscribe to the Shark Tank. www.sharkinvesting.com that’s where I got the tipoff. That’s also where Tim got his start, which you would know if you read his book.
Also, I have been on this site since the beginning, early last year, was one of the first 20 or so to buy the DVD/Book. Again, ask Tim.
TommyTim,
And as for calling me an anus. Very classy. At least login to the site to post, or are you too much of a coward to have Tim know who you are…
Tim,
What’s happening to you boards, man, bunch of whiners and low class folks mixed in with the few good folks actually trying to learn and make some $.
Maybe you need to be more aggressive banning folks.
TommyTim,
Actually they did accidentally release earnings. Email the company and ask, they will confirm it for you. Or read briefing.com, they will confirm it for you.
Bragging about a fantasy trade would be posting $. It was a good trade.
Subscribe to the Shark Tank. http://www.sharkinvesting.com that
No, I don’t go all in. Typically I go 20-30% of my overall account size, maximum of 50%.
JRJC was a tough, but good lesson for me. I finally closed out of it for a 15% loss on my position and a $255 loss.
Just when I thought I was getting good at making careful selection of my trades, and just when I was starting to make good gains on my account and smart trades, I go and f it up today with both MESA and JRJC. My worst trading day thus far. My trading stats were dramatically improving over the past 4-5 days, compared to the previous month…and I completely f’ed that up too.
I’ve now updated my “rules list” to never short OR buy after earnings. I’ve also updated it so that I will only enter positions in the last hour of trading. I’ve noticed over the past month that all my best entries have come when I entered in the last hour, and all my worst ones came in the morning or in the middle of the day.
Sticking to the last hour of trading will keep me from chasing trades, and put me in a better position to make careful trading decisions.
alvari–yes premium features are on the way, mentorships are possible, it’s $1,000/day and followup phone calls…have a few people doing that, they just contact me privately if they want to learn that badly
BTB-yah a lot of people who are too cheap for my dvd/book, just trying to trade random crap, classic traders….sad man, they dont even know where to start, they just throw money wildly around
Shorted SYMX 300 @11.34 holding overnight
Be_the_ball
Brah, I’m not hater, if you made dollars in JRJC good for you. But you start off calling everyone a retard then go on about how you saw the PR release on the company’s website. Just doesn’t make sense you’re on their website browsing the investor relation section the very second they accidently release earnings. Now you say you got the alert from sharkinvesting. I don’t need to pay someone $80 a month for pumper picks I can go to the lion and get them for free.
The company did not accidently release earnings early. I still don’t know where you’re getting this rumor from. I subscribe to 2 different real time news services that made no mention of this. Briefing.com makes no mention of this. If you could post the e-mail you received from the company or the briefing mention of this I’ll kindly apologize.
This stock is still gonna get some momo action in my opinion though I wouldn’t play it till it breaks todays high to confirm the signal.
new post, many of u need it:
http://www.timothysykes.com/20.....addiction/
Mr. Be_the_ball
I just got this from briefing.com about JRJC
Next earnings release: May 29 during market, confirmed. Reuters Research estimate: 0.13.
Should put to rest any rumor about earnings accidently being released.