getting shares to short is much harder than you people realizw.. the strategy looks good on paper but if you cannot get the shares to short ,,, then the net result is zero.... no trade executed...
Yes and that is one of the problems, many times there will be a perfect setup and it will be a massive winning trade, and there will be 10,000 shares to short, and Sykes will short 10,000 shares. That leaves zero for anyone else to short so you get to sit around and watch him make 10,000 or 15,000 bucks while you wait for the next trade. another reason I don't subscribe to his service any longer. If your looking to short penny stocks Interactive Brokers will let you short just about anything and they probably have the most number of shares the most number of times. plus their commissions are cheap. and what is really cool about IB is that they have a box next to each stock symbol you have on your list and if it is green then you can short it. so at a glance you can see all the penny stocks that you can short. Think or Swim goes on ok job, but their commissions are a lot higher. Sogo was good, but they changed their policy and now only let you short if the stock is over $3.00 TD Ameritrade, really sucks and tells you it's illegal to short stocks under $5.00
generally, he is a jerk with plenty of tricks. But he makes us comfortable when he answer all our question about stock
Great. What are his results adjusted for slippage? commissions/fees? What are his drawdown stats? His expectancy? His other stats (similar to a Tradesation report)? Lots of people are tracked, and few of them are real traders.
well Sykes a real trader, he is up around a gazillion percent. maybe more. on his website he has all his trades, and they are all actual trades, if your really interested just google his name. he has some amazing ability to trade 10 of thousands of shares on illiquid stocks and then somehow get amazing prices. if someone told me this I wouldn't believe it, but after watching him do it over and over, well what can I say. I have seen dozens of times where some stock that is trading next to nothing and showing 100 shares on the bid and ask, then 15,000 shares will come across and a few seconds later he will send out a message that he just got out of his 15,000 shares. but I can't figure out any way to make money from his trades. No one else out there does any research on penny stocks?
This is an interesting strategy, do you receive these mailers yourself of does some service track them?
I gave my address to a few web sites, now I get about one every other week. but you can look at stockreads.com and stockpromoters.com there are also some messages boards who specialize in pumped stocks. and then you can watch the highest volume stocks on the otcbb, if you have any kind of a decent pump the volume will push it up to one of the top 10 stocks. but it takes a lot of time because you have to find a pumped stock, then check the volume, then check the price. most of them are going to be trading around .0007 or something like that. which does you no good. you need them to go over $1, I think this dramatically increases your chances of a drop. because it seems a stock can jump from .007 to .009 or something like that then sit there for a year or so. of course the ideal is they go up parabolicly for 3 days.
I have my list of stocks that were pumped by a mailer up to about 15 now. and on friday 14 of them had shares to short. I forget which one it was, but only one of them was not shortable. and thinking back I have been following AMEL for about 3 months because I am short that stock. I can remember maybe 3 days that shares were not available to short, the rest of the time anyone could easily short it. So finding shares to short is really not a problem, unless you have millions and feel you have put it all on each trade. Or if your trying to time the dump, if a stock drops from $3.00 to 1.75 in a half hour then your probably not going to find any shares to short at that time. but other days it's not unusual to find 50,000 shares to 100,000 shares of a stock to short.
I traded OTCBB stocks and could not get filled. How are you guys getting filled? Did they change the rules in recent years?