Judging by some of the search queries people use to find this website, some people believe that I receive some special treatment from Tim Sykes (or that there is some sort of leak in his alert system) and I get his TimAlert trade alerts before other people. That is not true. If it were true, I certainly wouldn’t be dumb enough to blog about the trades I made using that information. The truth is, I have actually learned how to day-trade based on what Sykes teaches in his ever-expanding oeuvre of DVDs (my favorites among them that I own: Pennystocking Part Deux and TimFundamentals Part Deux).
My buy to cover order today on AENY and my first short of it yesterday are good examples. In both cases I traded about the same time Sykes did, before I even received his TimAlert. Why did I do this? Because I have been trained to think like Sykes. We both shorted AENY yesterday near the open because it was opening down after a fade the previous day (and it was a blatant pump & dump). I waited about a minute after the open to make sure it wouldn’t spike and I think Tim Sykes did the same before shorting. We both covered AENY today at about $4.30 because we like to take gains and the stock had ceased falling and was going sideways and even slightly up. Of course, covering there was not ideal because the stock promptly dropped to 4.18 and later hit $3.80, but the thinking on our parts was correct: we were just too conservative.
My overnight short of AENY was in my ThinkorSwim account and thus will show up on Covestor.
Watch the video for my trade recap and some advice on how pump & dumps work and what to keep in mind if you try to buy them.
Daily profit: $1666.68
Trades at IB:
SLD 500 JYHW false Stock 1.5400 USD ARCAEDGE 09:12:41 2.50
+ SLD 500 ECOB false Stock .705 USD ARCAEDGE 09:30:53 2.50
SLD 500 ECOB false Stock 0.7200 USD ARCAEDGE 09:32:01 1.80
SLD 500 ECOB false Stock 0.7150 USD ARCAEDGE 09:32:57 1.79
SLD 700 JYHW false Stock 1.4500 USD ARCAEDGE 09:33:36 3.50
SLD 1,000 ECOB false Stock 0.7160 USD ARCAEDGE 09:34:07 3.58
+ BOT 1,200 AHD false Stock 7.280 USD ARCA 14:19:41 6.00
+ BOT 10,000 AHD false Stock 7.290 USD SMART 14:19:41 50.00
+ SLD 8,800 AHD false Stock 7.362 USD ISLAND 14:20:57 44.00
+ SLD 2,400 AHD false Stock 7.430 USD NYSE 14:21:55 12.00
+ BOT 1,200 CSGH false Stock 2.260 USD ARCAEDGE 15:52:19 6.00
+ BOT 3,200 ECOB false Stock .810 USD ARCAEDGE 15:54:08 16.00