Another PennyStocking Success Story: Davey, A 21-Year-Old College Student
Posted by timothysykes on Mon 21st of Jul, 2008 12:07:58 PM
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Adding to the success of PennyStocking practitioners, grad student Tony Ellis (up $85,000+ now in 8 months) and Mike the Machinist (up over $410,000 now) comes the story of Davey, a 21 year-old student whose made $6,000+ within a few months using the strategies detailed in my PennyStocking DVD Package.
Granted $6,000 in profits over a few months is not as remarkable as those other guys, but who out there wouldn’t want an extra few thousand dollars? Especially those of you still in college. Especially those of you with small trading accounts…and remember, my DVD is only $300 so it’s paid for by one good trade!
Alright, enough of me blabbing, here’s Davey:
The past few months has been amazing, for a 21 y/o to bank more than 5K in the last 3 months is insane when you consider back in Nov. 07 when I found Tim’s site I had a measly 4K sized account, today it stands at 24,094.60.
I know what you’re thinking and no I didn’t turn 4K into 20K plus, but I did turn 4K into about 10K thanks to my buddy Tim aka THE BOSS. I had such success that my father who recently retired to start a small business told me to rest 13K of his retirement money in my account so I could reach 25K more quickly. Of course I would never trade with that money as it is just sitting there like it would in a bank while I continue to base all my trades off my original 10K.
I thought it would be extremely useful to go over my last few trades that have been highly profitable considering I am super conservative with all my trades because I like Tim am on a mission to 25K and to be safe more like 30K to have a nice cushion. I’ll start off first with CNEH which Tim brought to my attention along with everyone else who was watching Livestock.
On Friday June 26th I purchased 1500 CNEH at about 15:34:41 (which is about 3:30 and about the time Tim sent out the alert) for 4.63ish. I was a little concerned about holding a commodity play over the weekend but the breakout was as pure as Regan-Era coke so I pulled a Tony Montana and dove in head first.
On Sunday night I noticed oil was gapping higher which meant I had a good shot at a gap up on Monday morning. On June 30th at about 9:48, I sold 1500 China North East Petroleum Hldng Ltd. (CNEH) right at 5.07, a nice profit of $655 or $630 with fees.
My next trade/s was shorting Altair Nanotechnologies, Inc. (ALTI) on July 6th. I shorted 5K at about 2.05 and covered at about 2 for about 250, the only reason I mention this scalp is because it lead to my next trade which was shorting 5K more of ALTI into the close at 1.98 after it cracked 2 and then 1.99 where support had been for a while, and this trade was literally made within a minute to the close but you have to follow rules and if key levels of support aren’t broken then you hold off. Being short is much more dangerous than being long and a short squeeze can be painful.
The next morning I covered at 1.93 for another 250 and I mention this because after support in the low 1.90s broke it fell to 1.80 which would have been a 1K gain if I held but I was happy to wake up with a profit and this is just another example of how this method really is more for the casual trader.
My next trade was the latest Tim pick and that was IDAE, I commented on Tim’s blog that I didn’t want to chase this stock in the high 2.30s because it was somewhat illiquid and an OTCBB which can have forceful pullbacks, delayed executions, and terrible spreads. But I got lucky and when it pulled back during livestock I pulled the trigger for 3K at about 2.25ish and my experience with CNEH made me more comfortable to hold this over the weekend.
Monday morning I noticed we were gapping higher and within a short time of the open I sold at about 2.46ish for about 600. Of course it ran wild all day long but this is the beauty of the strategy, even when you suck as Tim and I do you can still make a killing. Who doesn’t want to make 600 while most people are on their way to work?
My latest trade is Meridian Resource Corp. (TMR) which I bought 3K of at 2.22 into the close because it was closing at new 52wk highs (close to taking out actual 52wk high), making new intra day highs and was up when oil was up and down which made me confident this was a technical play. I didn’t like the last few seconds of trading, there was a lot of selling at 2.23 so only time will tell if this will be a winner or a loser.
Overall, I made a few hundred from some scalps but because scalping is such a game of feel with a high risk/low reward it really only matters to full time traders, which is the opposite of what Tim’s method is about. And just so you know we all have losers as well, I lost a couple hundred buying the breakout of VIVUS, Inc. (VVUS) which failed miserably although I had a chance of profiting, and I bought URRE, which was insane, I know you think I probably was on the YAYO but I wasn’t, it was just a case of over trading and it is cancerous to your account like smoking is to your lungs.
I kept my losses small and just remember this line from Bob Marley “those who fight and run away, live to fight another day,” remember that the next time your shouting at a stock to come back in your favor. Stay tuned for my next post where I detail how the average person should be using Tim Alerts to maximize profitability and increase mental stability.
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I’m also a 21 year old college kid, who just recentley found Tim’s site. As with most college kids, it’s tough to fork over 300 on some dvds, but I’m gonna cut back on some booze and broads this weekend and buy the dvds because of your testamonial. Thanks for the post. Keep the success stories comin Tim.
Pure as Regan-era coke? Lmaoooo. That’s classic.
I wish I had known about the Legendary Tim while in college. You have so much free time in school to watch the market and make $$$. A cool 250 here a nice 600 there would have done marvels. Congrats Davey!
timbo, link us to davey’s blog good sir
davey’s got a blog?
“Stay tuned for my next post” last sentence. I assumed he had one.
His numbers don’t make sense. It’s been months since TMR was at 2.22. Did he mean 3.22?
Another college student, here I’m only 19 though and I’m going into my sophmore year. I’m glad to have discovered Tim’s site, I’m working right now over the summer. I’m buying TimAlerts this week and an American Hedge Fun I’m also going to buy the dvds. I want to make soo much money in college trading and then come out and do it full time while in law school. Thanks Tim.
Tommy Tim coming to you live from North America Sin City with his daily market report.
Iran, as expected, says “NO” to putting a stop to nuclear enrichment program. New threats being thrown at the evil empire by Rice. Iran is given 2 weeks to cut program or face sanctions. Mega oil spike coming. In addition to that news of Hurrican Dolly pushed oil prices back over the 130 support/resistance line.
Financials once again spiked at the open on news of better than expected earnings by BofA. Don’t expect this to last long. The banks will all retest 52 week lows before end of year. Many will go under. Next one to go under will sink the setor once again. Hundreds of billions of writeoffs still not being shown in the books of these guys. ARMS readjusting will definitely put us into an official recession.
Apple reporting after the close. Apple is expected to crush the lowball estimates judging by the mac and ipone sales. Healthy of Steve Jobs a concern. Throw some $$$ on this one for a nice 5% return in AH’s.
Nonsense aside, you’re here for picks.
My TommyTim alert given to you on Fri for PARL at 5.45 breakout. PARL at 5.83 current. Break of 6 PARL can run to 7.
Back to you at the studios.
CHCG possible breakout coming here, if it can hold above $2 today
Tim, nice story. I look forward to the day of me being interviewed on LiveStock.
Thanks for the email, I took a week off from trading, had some loses. No fear, back trading after reading 200+ blog posts.
I see where I went wrong! I steered away from the darkside.
Now I apply your principles vice versa.
Today I nibble like a baby, tomorrow I eat like Rosie O’Donnell.
Uggh, the PDT rule may cost me some profit. I was in the MWY breakout at $3.09, and it went as far as $3.68, but I couldn’t exit my position to take the profit without violating the rule. I have to hold this one overnight. Now it has pulled back to $3.40. I hope it closes around $3.50. Just another example of why this rule is so, so, so, so stupid.
Just out of curiosity - which brokerage house are you college guys making use of?
No No No…
Today you get a lap dance. Tomorrow you bang like you’re John Holmes.
TimmyTom short alert. If FNM retests 14.82 short if you can find shares. Don’t hold a financial long or short overnight.
Tomorrow you’re going to see a tech rally on Apple blow out. Apple should test atleast 170 based on options activity. This will lead to a sector rotation. Financials will get murdered tomorrow. Start doing some homework and pick a victim. FNM and FRE are the two best victims. When my boy Ackman who made 7 billion shorting ABK and MBI says both will be insolvent you take his word for it. He shorted FRE at 6 and doesn’t give a shit it’s up 50% above his initial position. He’s not covering till 0. Oil should get a nice spike too as Ms. Dolly makes way to shore.
Actually, options activity is indicating a 10% move in AAPL, not a direction. That means a range of 33 points
Where are you guys getting your options info from?
http://adamsoptions.blogspot.com/
Very correct. Options could never dictate direction or else someone would be the richest man on the planet. Based on a share price of 160 upside is very much in ones favor. Some will say this is a flip of a coin, maybe so, but without risk there is no reward. Anyone that follows Apple knows they are selling the hottest items in the world recession or not. The I-Phone in Russia sells for 5 times the US cost. Half of all I-phones sold were sold to Russia and China. Apple doesn’t even officially sell the I-phone in either country. Apple earnings will be blowout.
I will say the only potential downside is Apples lowball guidance. Anything north of 1.14 great. Next quarter revenue is forecast for 8.3 billion. Live a little and make an educated gamble. At 160 yes. At 180 I’d wouldn’t put a buy recommendation. Apple has beaten the street estimates last 7 quarters. Jobs, come on baby, raise guidance for once in your life.
TommyTim: you in FRE ss and if so Overnight?
why i’m short ZYXI:
http://www.timothysykes.com/ti.....-inc-zyxi/
What does “gapping” and “gap up” mean?
this interview was from a few weeks a go, i’m just waaaay behind on everythng, sorry
TommyTim alert. Buy SKF at 135. Will see 150 by end of week.
Short cover rally is over in these dirty financial names. Feds, have dug a bigger hole for themselves by preventing naked shorting in those 19 names. If I’m not mistaken the rule doesn’t apply to market makers.
OIL spiking now up nearly $3. Oh ya!!! I was off a day in my timing but my logic is on solid support. Soros, I recommend you to cover your short position my friend. Hopefully it was for a trade. Good one at that 137 to 129 if he covered. This guy donates 500 million to charity yearly.
Never short overnight the financials. I will say if you have a tolerance for risk holding FNM for a month will yield a 50% return. As I said a big named hedgefund investor is short both FNM and FRE. He’s not short a couple thousand shares either. Try a few hundred million short position. FNM should test 10 by end of this week. My short position hit today at 14.82. I’ll cover before close. SKF is a one week hold. Financials are exhuasted.
Since when did TommyTim become the next Superman or Nostradomus? Who is this clown, and why are you throwin up picks left and right all over the comments? You honestley think your going to raise your positions on stocks by promoting them on a few blogs? I might as well listen to that clown Cramer tellin me to buy and sell based upon the sound effects he feels like pushing. Do you have a covestor account to back up your talk?
how long you been here Sosooo?
Thanks TommyTim…
What does
Noob, “gapping” refers to opening a lot higher or lower than the previous day’s close. So like if a stock closes at $2.00 and has good news over night, it may “gap” to $3.00 in the morning. It’s based on the fact that if you look at a candlestick chart there is a “gap” on the chart where the price never was. A gap down would be like when Bear Sterns closed at $30 or whatever that Friday in Feb/Mar and gapped down to like $3 when they were supposedly going to be bought out for 42 per share.
Congrats Davey! Keep it up
No offense to the “real” diehards here but you all do realize that all these people claiming to have purchased the DVD and books is just Tim pumping his wares right? No difference to me that this is happening as I think he has a good system but c’mon. Maybe I am just a cynic…it’s just so blatantly obvious.
I will say that I do like to come here and find some good names to keep on my watch list as many of these “real” companies that explode and can be shorted, are actually good longs that you can buy after the meteoric rise and fall. If it’s a good company, the stock will withstand the straight up and shorted down and rebound upwards i.e. HYGS, TGC and most probably JOEZ. Thanks for all the info, but no thanks on the DVD’s. LOL
PCola… greatly appreciated!
Thank you.
Davey
great job and thanks for the qoute from Bob Marley
To all the college students on the blog who are in the trading game take it from someone who was in collge and in the trading game but really did not take it that serious learn now when your accounts are small and when you get done with school and start getting nice paychecks put that money to work and then give the man the big FU.
I’ve be sure to give a “davey” blog with the 5k i’m starting out with.