10 Questions With BuySellShort.com
Posted by timothysykes on Sat 16th of Aug, 2008 12:24:25 PM
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In my continuing effort to provide you with a view of the landscape of this low priced stock market niche–remember THIS interview I did with Greenbackers.com–here’s 10 questions with another low priced stock newsletter provider, Ciaran, founder of BuySellShort.com, who apparently is also a chef:
Ciaran is better known as “TheMagician” on TheLion.com and the guy is cool enough to offer you guys a special 50% off his newsletter right HERE.
Here’s the questions I posed to him:
1. what’s your background, let’s hear al the sordid details!
2. trading style? what variables do you care most about?
3. how have you done this year, summary time!
4. give us a brief overview of your website and all its features
5. best trade
6. worst trade
7. let’s hear some crazy story of some crookedness–feel free to omit
the names and people involved–or not :)
8. where do you stash your winnings?
9. what do you think the most comon trading mistake is?
10. let’s hear advice for somebody just starting to trade
His answers:
1. Background - Accounting Major San Diego State, passed all four
parts California CPA exam on first sitting, started trading at the
height of the Dot com craze. Got interested in stocks when my family moved to
America from Ireland
2. Trading Style - consider myself a swing/momo/scalper trader.
Really depends on the market and what is working at the time. Right now
this is a scalpers market. I trade based on charts. Trade stocks under $10
but do play higher priced stocks especially ETF’s like QQQ, SMH etc on
market moves my charts call
3. I’ve done very well this year. Key has been staying high cash
and moving in and out of stocks fast. Be able to change your trading
style to suit the market which is now more crooked than ever!
4. I started BuySellShort.com 8 years ago. It began as a nightly
written newsletter and has now morphed into a nightly video newsletter
with real time trading alerts throughout the trading day. I also have a live
chatroom where we profile market moves and stocks worth trading. The
stock market video I do nightly is a GREAT tool for active traders and
new traders as it gives a visual of what I’m looking for and why based
on charts. You SEE what I’m talking about unlike most other sites
that are looking to pump n dump on traders using BS excuses. I keep the
price really low so anyone can try it out.
5. Best trade, well the one I’m well known for is ELN at $1.26 in
2000 that we sold at $26. A close second was IMON that was bought at
$1.40 and sold 3 weeks later at $13+
6. Worst trade, there have been many but one that stocks in my
mind is also ELN! Gut feeling in 2003 to sell, instead I doubled up on a
Friday at $26. Monday morning stock opened at $8 and fell to $3’s. Made ALL
those losses back plus but ignoring gut feeling cost me!
7. Wall Street crookedness, wow there is SO much! For newbies
please realize that there are more crooks on Wall Street than ANYWHERE
else. CNBC is the biggest purveyor of crooks, chief among them brokers and
analysts. A rule I stick to is to do OPPOSITE what they say on TV. If an
analyst says SELL most times it pays to buy. Buy Ratings from analysts are
usually at tops. An ELN example. Short hedge funds paying for slam
articles. Stock starts to run before options expiration and negative articles
appear. In 2006 almost every month there were “rumors” of death causing PML
in patients on ELN’s Tysabri drug. All were false but powerful hedge
funds pay “journalists” to write what they are told. Believe NOTHING you
read anywhere until you do your own DD.
8. Vacations and bank account!
9. Most common trading mistakes - There are two major mistakes
that I see. Not selling losers fast enough and not taking profits. Both are
equal. You WILL have trading losses, it is a GIVEN. The key to longevity in
this business is cutting your losers FAST. Your trading capital is your
MOST important asset. Without capital you can’t trade! If you pick the
wrong stock and its not working sell and move on! Profits - the hardest
thing to do other than selling for a loss is selling a winner too early. I
like to piecemeal my winners. When I enter a trade I have specific targets
that I call out in my videos. 1st target, 2nd target etc. At first target
I sell 1/3 to ½, at second target I sell another ¼ and then ride the
final ¼ with trailing stops. With strict discipline on profit-taking you will
see your account grow fast!
10. Newbie mistakes - first off if you are new to trading you WILL
have mistakes. LEARN from them, that is how you will grow into a great
trader! Trade with a healthy dose of skepticism! Believe nothing you read
in papers or online, believe nothing you see on TV until you do your
own DD and even then trade with an eye to not believing. I see so many
new traders get caught up in the hype as wall street laughs and shorts
into their buying. As mentioned above learn to sell for losses and
learn to take profits when you have them. Another mistake I see newbies
make is going ALL IN on stock plays. If you are invested in one stock and
it tanks you are finished. Don’t let greed push you all in. Slow and steady
wins the game and when you trade for small gains the BIG home runs WILL
come!
Now you can Twitter any questions/comments to TIMhelp and obviously you can follow TIM on twitter too!
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TIM Alerts
View All| Date | Stock | Position | Ideal Exit | % Gain |
|---|---|---|---|---|
| Nov 24 | KVHI | Short | $3.70 | 18% |
| Nov 20 | STSX | Short | $3.10 | 11% |
| Nov 18 | PERY | Short | $3.75 | 25% |
| Nov 11 | IIJI | Short | $2.80 | 5% |
| Nov 6 | CVI | Short | $4 | 15% |
| Nov 5 | MECA | Short | $1.95 | 51% |
| Nov 4 | CVI | Short | $4.81 | 4% |
| Nov 3 | NAK | Short | $3.20 | 5% |
| Oct 29 | EVC | Short | $2 | 26% |
| Oct 28 | HSNI | Short | $6.80 | 7% |
| Oct 28 | HSNI | Short | $5.75 | 4% |
November: 9 alerts, 15% avg gain
October: 11 alerts, 14% avg gain
his BEST trades i know 3 of them
1. SIRI .44 cents to 7 dollars
2. ELN $ 2.00 to $ 28
3.SONS $ .20 cents to 7 Dollar
WOrst NONE because he uses stops.
fYI i subscribe to him and he doesn’tknow i am posting here at all.
Thnx Tim
Continuing the Covestor theme from the last post, I am now at #6 on risk-adjusted returns.
http://www.covestor.com/mbr/goodevalue2
So Tim and his followers have 4 of the top 6 spots.
Good stuff…
Tim, I realize the trades would be lower probability but I don’t see why you can’t generalize your approach to bigger stocks. Shorting companies after they run up on non-earnings related hype and short squeezes wouldn’t give you gains as big as you have been getting with microcaps. But it would make for a more scalable strategy and one still better than the coin flippers (”buy starbucks on internation expansion blah blah blah”) on Wall Street.
I think Reaper should be commended for his open-mindedness in embracing Tim’s strategy. Alot of investors hold onto their views. Reaper modified his when research and results justified it.
Brent, in no way shape or form should u try to use this stuff for bigger companies, TOTALLY diferent variables
That’s awesome advice. I’m going to print this post and put it on my desk somewhere.
what DD stand for
due diligence…your own research
new post:
http://www.timothysykes.com/ti.....stands-me/
Truely one of my favorite theLion.com personalities. I really get into his videos. He probably has no idea how entertaining he is.
Some of his greatest sayings are:
In references to any market component or market makers: ‘crooks’ or ‘crooked’
In reference to potential results: ‘losing your ass’
You got to listen to this guy go over the macro events, and market events. He really has an understanding of what is happening to you and why.
why did you chose that picture of him drinking the wine from the bottle tim??!!??
its the pic he sent me!
I love it…our good ole Ciaran!!…btw Tim, thought I’d use my full lion.com name this time
Sounds like a down to earth guy that knows his shit. Good find Tim. Maybe the little jew can learn from an Irish mic how to time his exits a little better. Video morning watchlists would be pretty cool too Tim. You know how much you like to be in front of the camera. Don’t know how you’d look since you do your watchlist in the middle of the night.
Hope u guys like the article. I think my video compliments Tim’s service very well.
My choice of the picture was to show the fun side - trading can be tough, u have to learn to unwind and enjoy spending your profits!