I covered way too early on Vonage Holdings Corp. (Public, NYSE:VG) but still made $1645.36. I predicted that there would be a significant morning panic on Vonage today and I was right. I have to give props to Tim Sykes who made about the same amount of money on a much smaller position, riding VG down from $2.27 to $1.82. (Want to learn how Tim Sykes and I correctly predicted what would happen to Vonage and profited from it? Check out his Pennystocking Part Deux DVD. I have now made over $80,000 since June of 2008 trading Timothy Sykes’ system!) My total profit on VG this week, long and short, was almost $3000. Far from ideal considering my position sizes, but I’ll take it.
Vonage dropped from about $2.00 to $1.40, an easy 30% drop for those who waited just a few more minutes than did I.
Today’s Profit: $1645.36
Weekly Profit: $3506.69
Disclosure: No positions. I have a disclosure policy.