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Trading Tips-Tim Sykes Penny Stock

Not Profiting In 2024? Let’s Try To Fix That!

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Written by Timothy Sykes
Updated 2/9/2024 7 min read


You need to watch the market when it’s hot.

Some people think they can just show up when they want to and still be able to profit. “February’s a little tough for me, my schedule frees up in March”.

We don’t know when this momentum will disappear.

That’s why it’s important to trade RIGHT NOW.

At the end of the year, your account value is the sum of your best and worst trades. I’ve got my foot on the gas pedal right now because it’s easier to profit when the market is hot.

3 out of 4 stocks follow the market.

Look at my Tweet below:

I’m pulling gnarly profits right now.

But the reality is, I’m not that good of a trader.

The reason I’m so successful right now is because the market is on a HUGE hot streak. Look at the S&P 500 ETF Trust (NYSE: SPY) below. It just keeps going!

SPY chart multi-month, 1-day candles Source: StocksToTrade

I’m flabbergasted at this momentum.

But it’s not like I predicted a market crash.

I don’t have to predict these things. After 20 years of profitable trading, they fall right into my lap.

I teach other traders how to profit too. So far I have over 30 millionaire students. And thanks to this 2024 market, that number is likely to grow within the year. I’ve already congratulated 2 new millionaire students since January 1.

There will be profit opportunities this week!

To help, I’ll show you how I played Friday morning’s spiker: Intelligent Bio Solutions Inc. (NASDAQ: INBS). It spiked 300% in less than 24 hours.



The patterns repeat.

Intelligent Bio Solutions Inc. (NASDAQ: INBS)

© Millionaire Media, LLC

First of all … These patterns don’t work on every stock.

We only pay attention to the best plays.

In the beginning it’s difficult for traders to tell the difference between a GOOD setup and BAD setup. Don’t worry, that comes with time.

Here’s how I knew INBS was going to launch on Friday:

  • It spiked more than 20% in premarket.
    • Stocks that spike 20% can spike higher.
  • It was trading below $5.
    • Low priced stocks can spike higher from a percentage perspective. The percent gain helps us profit.
  • The volume was above 1 million shares on the day.
    • The stock needs to be liquid enough for us to get in and out. It also shows the stock’s popularity.
  • The float was below 10 million shares.
    • A  low supply of shares helps prices spike higher when demand increases.
  • It had a history of spiking.
    • Past spikers can spike again.
  • It was in a hot sector.
    • Biotech stocks are hot in our niche right now.
  • It announced bullish news.
    • Every spike needs a catalyst: A reason for the move.

It looks like a lot of factors.

Here’s the reality of our situation: There are thousands of stocks spiking every day. But only a handful will offer us BIG opportunities to profit.

The factors above help me whittle down the list of thousands to … I don’t know, it varies depending on the market. Let’s say like 10 stocks appear on my scan every day.

That’s MUCH more manageable.

Now, the catalyst is arguably the most important part of the stock spike.

There’s good news and boring news. Again: You’ll learn this with experience. It’s not rocket science.

The INBS Catalyst

© Millionaire Media, LLC

On February 9 at 8:30 A.M. Eastern, the company announced bullish fiscal earnings from its second quarter and an equally positive 6-month report.

Here are the details.

Bullish revenue is a huge catalyst for a penny stock.

Most of these companies are trash. It’s not uncommon to go through their finances and find them bleeding money. And probably huge amounts of debt.

So yeah, when INBS announced positive revenue, I was definitely excited.

The stock spiked ALL morning. And traders got a formal alert at 9:38 A.M. Eastern.

Even earlier if you followed CatalystX!

Here’s how I played it:

Source: Profit.ly

And I overlaid my trade on the chart:

INBS chart 1-day 1-minute candles Source: StocksToTrade

It wasn’t the only profit opportunity, either. There were setups all day!

I pulled another profit from INBS less than an hour later.

And Another Spiker …

INBS spiked 300% on Friday.

But we should have known, this market is too hot for only one runner per day.

Intuitive Machines Inc. (NASDAQ: LUNR) spiked 40% and followed my weekend pattern to a T: Sometimes they like to break out before Monday morning.

I had to catch some more profits before the week ended:

Source: Profit.ly

Get ready for this coming week.

The 2024 market is RED HOT.

You have to take advantage of the momentum while it lasts.

Comment below your favorite tickers moving in this market!


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Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”