The Risks & Rewards Of Staying True To PennyStocking
Posted by timothysykes on Thu 28th of Aug, 2008 07:31:50 PM
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On the TIMalerts .com subscriber’s only site, which at now 200ish comments/day is approaching this main site in terms of page views, the following comment was posted:
…i closed my FOUR position. from 7.16 to 1.64, not bad… a 77% gain… i shorted with 1000 shares… do the math to figure it out the profit, and BTW I give a lot of credit to TIM for this because he might not of put an alert to it, but i surely would never have made a 77% gain in 3 days on any trade. It doesn’t even sound real… it sounds like it would be a scam if i told someone “you wanna 77% on your money in 3 days? i can!”
Tim, your an awesome guy, it kills me to watch you take the abuse people give you, when you have a talent… the fact that you give your advice… nearly for free and devote so much time and energy to this site is beyond words… your a freakin legend…
First, let me say how pumped others are finally beginning to venture out on their own and seeing the kinds of amazing gains this niche offers. In time, you won’t need me at all cuz I’m really not even that great a trader, I’ll likely be remembered for teaching others this game, much moreso than my once-upon-a-time little $12k to $2mil feat.
Remember, I missed that FOUR short Paradox is talking about above, stupidly trying to play a bounce much lower–going against my own rules “never try to catch a falling knife”–so others profited from my strategy, while I did not. That’s good!
Short Selling frauds and pumps when the truth gets discovered/hype wears off should be a mainstream strategy.
Others like Ben Bien, who, judging from his posts in the forum, lost everything on some random penny stock trade (UVSE)–going against the rules I put in place…oh yes, without rules and discipline, this isn’t a high percentage game–go off on their own never to be heard from again.
So let this be a reminder to you–I have a ton of experience, I’m not perfect by any means, the strategy I detail in my PennyStocking DVD has worked for me, but there’s thousands of profit angles down here in the gutter. There’s also thousands more angles on which you’ll probly lose.
Trade carefully.
Ps The abuse is just bitter people who think I’m peddling the same old penny stock/newsletter hype on which they’ve always lost. It’s gonna take time, but eventually they’ll see I’m different and the bad press actually helps, remember my #1 hater became my biggest fan once he found he could make thousands of dollars off my strategies! (see details HERE).
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
Anyone see ABK-PZ was up 39% today (+$14.69), 230k shares…no news, nothing. wtf?
ABK-PZ must be some prefered of ABK, which rose 41%. There was news from the pre-market…
Financial shares advanced after MBIA Inc. agreed to reinsure nearly $200 billion of municipal bonds backed by FGIC Corp. The deal between the two bond insurers led to some hopes that the troubled credit market is beginning to right itself. MBIA jumped $4.17, or 35 percent, to $16.15. Other bond insurers also rose, with Ambac Financial Group Inc. climbing $2.18, or 42 percent, to $7.42.
FGIC will receive a $200 million commission for its troubles. Shares of MBIA jumped over 21%; rival Ambac Financial Group
MBI 16.15, +4.17, +34.8%) were up 14% in premarket trading Thursday on news it will reinsure $184 billion of municipal bonds issued by Financial Guaranty Insurance Co. MBIA, a bond insurer, will receive $741 million for the deal. MBIA and another bond insurer, Ambac Financial Group Inc. (ABK:
AMBAC InC ABK 7.42, +2.18, +41.6%) , were among the top off-hours gainers ahead of Thursday’s opening bell. Ambac shares were up more than 12% in premarket.
UFI closed above 4 on the weeks resistance, missed the amazing breakout at 3. Great volume could break it out again.
OBAMA
YES WE CAN
AND WE WILL…..
haha, hey you mentioned me! yes, I did not follow the PennyStocking rules and I got suspended from using my ThinkorSwim margin account, which led to my reckless behavior in buying UVSE. But just to let you know, I bought UVSE before it moved +100% but I only sold half the position and did not take all of the gains. Then I bought more and stayed in, and it moved +50% for me when it moved to 0.03 in July, and that time I did not sell at all and did not take those gains. And from there on it tanked and I finally sold recently at 0.015, which isn’t bad because I kept buying more and lowered my cost basis down to 0.016. Yes, Tim, I am GLAD that you used me as the example of someone who did the wrong thing. I’ll be sure to tally up my UVSE losses and report those when I have the time. I am still working on my website, which does not currently have my P/L calculated. Hey and F YOU for saying I lost everything, I didn’t lose everything, I have $9K left right now!
hey I didn’t go off to be never heard from again. Just because I don’t post my usual absurd comments on your sites anymore doesn’t mean I’m gone or lost my mind or something. I watched the DVDs and I learned your lessons, but I did not have the discipline to apply them when needed. And as for UVSE, I was BETTING on their completion of a well, and my mistake was listening to the words of the CEO/CFO, who kept saying the drilling project would be a ‘company maker’. Fuck those guys. I’m out of the stock, bought GLCC the other day, made +$1500 and I’m on my way back to recovery. Hey, I didn’t know you had a girlfriend man, you never mentioned that on the site before…
oh yeah and P.S. when I bought GLCC I applied your whole DVD spiel about bottom resistance and pennystocks trading on high volume as having momentum while those with weak or declining volume as losing momentum. These are basic things of course but yes I learned them from you and I made money off of it. So yes, when I bought and GAMBLED with UVSE, I lost money because I did not apply the PennyStocking rules. But hey, as a fellow philosophy student you should know that there is no such thing as 100% absolute certainty, so of course from the population of PennyStocking DVD students there will be some outliers in the distribution. I am one such outlier. You can henceforth refer to me as the slow and retarded student. I’m serious, I’m not being sarcastic. This is self-effacing humor at its truest. I really do deserve and accept a bashing and I am man enough to take it, unlike the TMK guy, who sounds like he’s still a freshman at Ridgemont High or something.
alright I’ll lay off the TheMarketKid, I think he’s had enough of my asshole remarks..he should know we’re all just being tough on him to make him stronger. Plus, if he’s actually a trader, he should have been through the most painful ups and downs already so none of our mere words should have much effect on him IF he were a true trader like the rest of us.
total_keops, you get in on any of those bond insurers? I took a quick gain on FRE a few days ago, but I kept kicking myself days afterward for selling too early………might be a pullback tomorrow but who knows. As Tim puts it, play the frauds, they’re more predictable. The first time I visited this site I asked Tim why he was talking about the Spitzer girl instead of recommending a short on such shitty stocks as SCA and TMA back when they were trading at $3, and he told me to go fuck myself because trading things like SCA and TMA is not his style. Sooo, I don’t know why you’re posting about ABK here but I hope you made some gains on it these past couple of days.
I usually dont have a clue what I get myself in.
I did not post on ABK, I answered a question in hope it can help someone else.
No MBI or MBK for me today, I’m not that smart… yet.
I’m 90% short so I dont have a clue how to get long on anything.
I can get short or horizontal no problem but long is not my thing, lol.
You sure know how to bank on the Timbucks dude.
WE WANT CHANGE,
get the f out of here.
Where not trading with the idea of paying more dough to homeless people. Get a job.
As soon as we want to cash our chips we will move to some shady country like Switzerland to make sure our money is used for decent purposes like building anti-war tunnels.
>>UFI closed above 4 on the weeks resistance, missed the amazing breakout at 3. Great volume could break it out again.
And the only trading related post today, congratulations. Good looking chart.
I really like the MarketKid long pic CWTR for the chart. Not tomorow maybe but on breakout it could run.
And there comes the fact the we dont care about Covestor. We should judge based on what info is available before the facts (the calls) and care less about the outcome. Cuz what we do is take the calls and trade them. The market decides on the outcome. All we can do is control the way we trade it.
I want change just not with higher taxes and bigger government with Obama who will be an even bigger puppet then Bush.
Even if the dems win the election i won’t be too disappointed since it will just remind people why even voting for a bad republican isn’t as bad as any democrat.
anyways this isn’t the place for politics aside from bashing on the SEC. Nice post Tim. That was a pretty crazy trade considering I was watching FOUR from the sidelines as well. Hitting the bottom under $2 was a nice move. Its not like it was a straight drop from +$7 to -$2 either. FOUR is sitting about $4 now.
If you want REAL change vote for Bob Barr!
If Ron Paul doesn’t get elected vote for Bob Barr. Youtube Ron Paul, He should be our president!
The real change I want is to lower the limit on the daytrading rule. LOL
>The real change I want is to lower the limit on the daytrading rule. LOL
Good point.
At least we got rid of the downtick rule. I can imagine trading FRE with it but shorting penny stocks must have been crazy back then.
Ok I hope there arent too many ignorant ppl on this site saying the Change we can beleive in crap i mean seriously….Im not racist either id vote for Colin Powell or Conde Rice or any one with experience…im not saying mcain is the best either…but Mcain has 22 yrs exp in politics and Obama has 173 days…you tell me if you want someone with that exp running the strongest superpower on the earth?????
The saddest thing about it is he is promising to raise taxes…alot of taxes…and ppl are still going in droves to vote for this guy>????do you seriously wanna almost pay twice what you do now on income taxes seriously???if you do your and idiot. Sure hes a great speaker but do you want someone who will agree with you on everything and prolly not be able to deliver on anything or someone you disagree with on 50% of things that can deliver??? here are some numbers.and they r real
JOHN McCAIN BARACK OBAMA
offshore
drilling yes no
served armed
forces yes no
will apoint
new judges who yes no
interpret not
make laws
amt of time
served senate 22 yrs 173 days
socialized
health care hell no yes
Supports
abortion
throughout no yes
pregnancy
Supports gun
ownership rights yes no
gay marraige no yes
Voted against
making English no yes
the official
language
Voted to give
Social Security no yes
benefits to illegals
CAPITAL GAINS TAX
why this affect stock tradeers and market
MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax.
OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.)
DIVIDEND TAX
this affect you all
MCCAIN 15% (no change)
OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that ‘Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.’) SERIOUSLY WTF change you can believe in SPARE CHANGE
INCOME TAX
MCCAIN
(no changes)
Single making 30K - tax $4,500
Single making 50K - tax $12,500
Single making 75K - tax $18,750
Married making 60K- tax $9,000
Married making 75K - tax $18,750
Married making 125K - tax $31,250
OBAMA (reversion to pre-Bush tax cuts)
Single making 30K - tax $8,400
Single making 50K - tax $14,000
Single making 75K - tax $23,250
Married making 60K - tax $16,800
Married making 75K - tax $21,000
Married making 125K - tax $38,750
Under Obama, your taxes could almost double
FCKIN INSANE CMON PPL DONT JUST VOTE BC OF A WORD CHANGE OR A COLOR ITS NOT ABOUT RACE ITS ABOUT LOWER TAXES AND LESS GOVERNMENT
INHERITANCE TAX
MCCAIN
- 0% (No change, Bush repealed this tax)
OBAMA
Restore the inheritance tax
Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes.
SORRY TIM IF YOU THINK THIS IS OFF TOPIC BUT IT DOES AND WILL AFFECT THE MARKET AND THE BOTTOM LINE ON THESE 77% PROFITS…MORE LIKE 35% BUT HEY IF YOU GUYS WANT TO GIVE ALMOST HALF OF YOUR EAINGS IN STOCK TO obama THEN YOUR A COMPLETE IDIOT.
where did you get those numbers…
it wont let me put links up here lemme try
just put the W W W in before it or H T T P : / /
You can verify the above at the following web sites:
money.cnn.com/news/specials/election/2008/index.html
cnn.com/ELECTION/2008/issues/issues.taxes.html
//elections.foxnews.com/?s=proposed+taxes
bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html
blog.washingtonpost.com/fact-checker/candidates/barack_obama/
blog.washingtonpost.com/fact-checker/candidates/john_mccain/
well look where bush taxes got us :/
i dunno, sometimes there’s more important things than paying 2k more in taxes a year…
You guys are all idiots, stick to trading and leave politics to people who are obviously more intelligent.
Quit spreading the Obama lies. Check your facts. Straight from Obama’s website, it lays out his tax plan. Doesn’t exactly match all the unfactual crap you just posted.
http://www.barackobama.com/pdf....._FINAL.pdf
Capital gains would max out at 20% and only if your income is about 250k. Bush tried to raise it to 20% himself in 2001. Quit falling for the headlines of lower taxes. Some of our best economic times in this country have come in periods when our taxes were higher.
Hey Pallian, congrats on being named McCains VP choice, that’s fantastic!
Oh, it’s “Palin”, not “Pallian”? Sorry man, maybe next time.
hey dostoy, politics is full of scummy idiot people too
I am just surprised that people actually think McCain will be good for our Country after 8 years of bush. We are one of the lowest taxed first world Countries, do you all really believe that we can run this country, fix its infrastructure, defend its freedoms and provide for its peoples education and well being with out the proper taxes to support all of that. Freedom is not free as a lot of you are fond of saying. You have the opportunity to make the money you do on the most robust market in the world because of the American promise and the American dream. We need to support that promise and that dream. It is not about taxes, it is about the health and well being of our Country. We have the obligation to take care of or fellow Countrymen and women a health America will lead to more opportunity and wealth for us all, and McCain does not have the vision to bring us to that goal.
Hope you all got in my “trigger alert” from yesterday posted here
August 28th, 2008 at 3:38 pm
That TMK blog is pointless. The dude uses TOS Play money account which is why he can
AAPL down $4 today and looks like it’s going lower. It closed lower than the open yesterday and couldn’t hold resistance into the open and is nose diving. If I had to guess I’d say it’s heading to the $160 range next week where it will probably level off.
KRY is seeing resistance today at $1.30 on 3 million shares traded so far.
first off the 8 more yrs of bush crap is lame…his name isnt Jeb…Mccain isnt Bush… I didnt say MCCAIN is the man but he is the lesser of 2 evils and isnt gonna raise taxes etc…i gave you the web links for the info…And as far as looking at Obamas website when you look at these pump and dumps do you look for credible info on the actual companies??? hell no you dont…Obama is a pump and dump he is flip flopping his way through all this.
If you want biased info go to obamas site or COINs site..i mean seriously
and yes politice is full of scummy ppl jus like wallstreet so be careful the BS he wants you to hear.
AND RAISE TAXES WHEN CLOSE TO A RECESSION ARE U INSANE WE WILL BE DOOMED READ YOUR ECONOMIC BOOKS FROM NYU NOT OBAMA.COM
SO OBAMA GIVING FREE HEALTH CARE TO ILLEGALS IS THE DREAM?
So you are saying that the sites you gave are more accurate on the man’s positions than his own site? Where do they get their info? You have no idea.
Based on that theory, I guess McCain’s site is propaganda too? We can’t believe his site either. As for flip flopping, McCain’s changed about every position he’s had since he ran in 2000 just to get the nomination.
I’m not going to debate all their differences with you. You just started out with the crap statement that Obama was going to raise the capital gains tax to 28% and the dividend tax to 39%. I went to your sites that you listed and didn’t find either one of those numbers. Your sites listed the same 20% that Obama’s own site listed with a couple of mentions of 25%. And all of those increases are only for incomes higher than $250,000.
I don’t mind you having a difference of opinion or supporting McCain. But don’t spread absolute lies to try and sway other people.
What are you saying that if you checked COINS website it would be more accurate than a non biased site? ANyways everyone knows the media is pro obama that is blatently obvious…and thats where some facts came from the ClintonNewsNeywork. I dont like MCcain but def he has a better plan than Obama and more experience which i think is very important.
If some of those facts have been retracted then I apologize
you know theres another candidate running. Bob Barr he’s better than both obama and mccain
hell i am actually voting bob barr im from georgia
I can’t blame Bush for anything stupid I might have done with my money in the last 8 years… neither can any of the stupid people who did stupid things with their money that put them in financial jeopardy. The president does not make the economy what it is. You got 300 million people in this country running around throwing money into the economy. Either you believe one philosophy or the other…meantime we all are to blame for whatever happens.