thanks for giving me a chance! according to the rules of tim's dvd and blog, i look for the biggest 5-day % gainerss on stocks trading under $10, then i filter out all those that are being promoted by "pr firms" and newsletters: CNEX: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cnex#getNews NNVC: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=nnvc#getNews then it's just a matter of locating shares to short for possible breakdowns after the buying due to the newsletters and spam subsides. tim went short CNEX today, but said he was early on his short because he had an interview to go to. even though it has a 5 million share float, i didn't try to short that one because tim broke his own rules about waiting to short until a stock goes negative on the day. I did reserve 1,500 shares of NNVC, which went negative, but i didn't pull the trigger because it was too low priced for my comfort zone very interesting strategy, but it's going to take me a while to get used to these kinds of stocks
VictorS is right. We should let this journal unfold. Tim, good luck with your trading! I truly hope that you will make a come back! Sincerely, Pension_Admin
I have seen 5000 share short positions turn into clearing firm destruction. If you are short an illiquid stock, life will suck.
People need to know that the market is a sucker's game. The biggest suckers are the general investors and in a way, they are the biggest driver for mutual fund actions. Hence, when someone play in the small caps game, the suckers are no longer there. So, if someone don't know who the sucker is, then that someone is probably the sucker. Pension_Admin
I read Tims book and I didn't think it was a bad book. For someone who is interested in starting a hedge fund the book gives some insight as to the struggle one will have. Having read the book, seen wall st warriors and some youtube With Mr. Tim Sykes my final impression is that he was lucky and without the maturity level to deal with his lucky streak. While I don't agree with everything I read in the book 'fooled by randomness' I strongly suggest to the OP that he reads that book ASAP. Perhaps Tims problem was lack of risk discipline/management (appears to be at least part of his problem) but do you really want to follow that kind of person? I wish you the very best of luck and I hope you do well. Your just starting out with this strategy so just remember that you don't have to make all the money in the world overnight. Go slow. Don't let one of two trades have the ability to destroy your account. Respectfully, Bob
the main problem with tim is that he tries to be over the top just to get attention, but other than that he seems pretty harmless. and yes i'll definitely go slow with this strategy, not even worried about VRML tanking another 15% today
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i had no trades today, i tried borrowing shares to short of CNEX and BPTH, but had no luck, not that either of them are very liquid anyway