This went out to TIMalert subscribers early this morning:
Getting some weird emails/comments from you guys expecting solid trade setups every day and expecting me to profit every single day. That’s not the way trading works and it’s certainly not the way I work. Lay off the absinthe guys, legal or not, it screw you up.
My trading account is up 120%+ in the last 10 months—7% this month–even while I make tons of mistakes cuz I just take it one pump at a time. I don’t judge them as being too illiquid or happening too fast, I respect them for what they are and try to profit from these occurrences. You want perfect liquid/volatile high percentage setups every day, go somewhere else cuz it ain’t PennyStocking.
I wake up early each and every day, not cuz I want to, trust me on that, trying to reserve shares for potential shorts, most of the time unsuccessfully even while looking to buy breakouts too (a potential one today, see below). That’s the game. If you don’t wanna put in any effort and just want spoon-fed profits, don’t play. Go back to random trading, go win 40% of the time with Cramer. Here I promote hard work, high-probability setups, being prepared for potential trades and most importantly, being human.
BBI I wrote about in the post why I didn’t play it…good for those of you who did.
MKTY is the illiquid play so many of you don’t like me playing. Well, in that same post as BBI, you see why I think it was ripe for a big fall. Up $600 on my short so far, looks like I’m right and I still want under $1.50 today. But I have no expectations and will judge the trade based on price action, as always. My apologies if you didn’t get in or woke up too late not to find any shares—if you took the time to learn from my PennyStocking DVD and brand-new ShortStocking DVD, you could anticipate these…easily.
VM was a solid short I missed, it’s gonna happene again and again cuz I want 2-3 up days, not just one.
PDO is a speculative oil play up on oil, I won’t short it here, oil can run further than you think
ROYL is the same as PDO
SSN is the same as ROYL and PDO, rodents move in packs.
MFN is a speculative metals play, same as oil, it can really run, it’s on my watchlist though since it’s got such a nasty longterm chart and yet its up soooo much the past few days.
FEED is only up 25% off its lows, but as I’ve profiled again and again, this is one sketchy company, I don’t expect strength to last much more so it’s a potential short.
EXK is the same as MFN
GBN is the same as EXK and MFN
IDMI is coming back, watch for breakout over the next few days, that’d be a triple breakout over multiple timeframes…400k+ shorts wouldn’t be happy, if it can break $4, it goes to $5 easy
HL is another tiny gold play
NG is another goldie
HMY is in the same golden boat, look at previous spikes to see how this might play out.
QCOR is one I just might have to buy if it can break $6.83 convincingly, over $7 and it goes to $7.50-$8 in a day or two, due to 8 million shorts crying out in pain simultaneously
SIL is a silver play up 50%+, c’mon gimme one more 50% day and I’ll be tempted to short
NXG is the same as SIL
SIMO has one of the worst charts I’ve ever seen and I love it! Shoulda woulda coulda shorted into yesterday’s morning spike, just didn’t think it was up enough
NCMI is in the same boat as SIMO except it didn’t fade so quickly
