Trade recap for March 11th

Trades at IB:
SLD    5,000    SNGX    false    Stock    0.2650    USD    SMART    09:30:43        6.62
SLD    5,000    SNGX    false    Stock    0.2600    USD    ARCAEDGE    09:31:38        6.50
SLD    5,000    SNGX    false    Stock    0.2510    USD    ARCAEDGE    09:34:06        10.04
SLD    5,000    SNGX    false    Stock    0.2525    USD    ARCAEDGE    09:35:03        10.10
+    BOT    3,000    ZANE    false    Stock    3.130    USD    SMART    15:03:07        15.00
+    SLD    1,500    ZANE    false    Stock    3.260    USD    ISLAND    15:05:17        7.50
+    SLD    1,500    ZANE    false    Stock    3.290    USD    ISLAND    15:06:06        7.50

Daily profit: $290.99

Disclosure: Short 3,000 AENY. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

0 thoughts on “Trade recap for March 11th”

  1. What prompted you to cover ZANE premarket? I was watching it premarket and thought to myself, damn this thing is going to fall apart without me.

      1. Ok, so nothing in the pre price action spooked you? I was thinking maybe I totally missed something since to my untrained eye the pre action looked very favorable to a short.

  2. reaper do you agree that tim screwed up by buying zane when he knew a bunch of his subs and people that follow him were still short he pissed off subs and followers for a stupid 3k pos it just dosent make sense and yes that spike was only cause of him you know that

    1. Tim is a day trader. He did not trade against his subscribers as probably five hours passed between when he covered and when he bought. I really don’t understand why anyone would’ve remained short through the morning spike and then all afternoon, unless they were a fundamental short. If you are shorting it based on fundamentals then a little spike should not be a cause for concern.

      1. Actually, I think that is a poor strategy for Tim. Really stupid. You just should not trade against your subscribers, even if it was 5 hours, there are plenty of other stocks to trade.

  3. the volume was dead and the price was gona go down till tim bought it even if im shorting on fundamentals tim buying subs following momo traders jumping on shorts panicking then the force buy in that’s what i was nervous about

    1. I was just looking at everybody’s tweets re: the whole ZANE thing and saw his tweet … he is dangerously wrong about borrows and short squeezes; once borrows are gone (with a high short interest) and shorts get forced buy-ins is when it is really dangerous to be short and when you get massive short squeezes. I’ve been in that situation a few times.

      1. Yeah I was confused by that as well, if the shorts are getting forced in and half the numbnuts are ignoring the notices and getting bought in at market, shew talk about a recipe for a real “short squeeze”, pretty much the EXACT opposite of what he was describing.

  4. Tim’s last trade had been a buy to cover (so a buy), so he was buying about 23 hours after his previous short … I really see nothing wrong with that.

    ShortBus :

    Actually, I think that is a poor strategy for Tim. Really stupid. You just should not trade against your subscribers, even if it was 5 hours, there are plenty of other stocks to trade.

  5. Correct. Action in pre was fine.

    tbohen :

    Ok, so nothing in the pre price action spooked you? I was thinking maybe I totally missed something since to my untrained eye the pre action looked very favorable to a short.

    1. Cool, not that I have any idea what I’m doing, I just was shocked when I saw you covered in pre, when I was thinking totally the opposite. Based on the current price action though, I was NOT taking into consideration the earlier morning spikes.

      Hey I guess we both are right.. How convenient!! 🙂

  6. Several things come to mind here.

    As I posted here: http://answers.timothysykes.com/why-is-trading-so-hard
    …one of the things that comes to mind is that on ZANE a change in the trade managing landscape had occurred.

    Tim covered very early and posted an alert to private that all his subs could see. This was probably also announced by Reaper in the main window, the chat log history does not go back to that point if I am not mistaken.

    The unusual big volume on this spike, unlike the previous 4 over the past 2 days, was a big red flag. Tim was correct, without hindsight benefit, to cover.

    He soon posted to Tim Alerts Private to this effect. He also said some critical things to subs. Please log into your account to read that post.

    As Reaper noted, this stock HELD 3.00 in consolidation for hours after the first spike. Why would you STILL be short?

    I am the biggest ZANE long skeptic there is, just see:

    http://traderbigt.blogspot.com/2010/03/confusing-individual-play-outcomes-with.html

    And even *I* would have covered went flat or went long. No way am I still short.

    Worse, you KNEW 5 hours before the afternoon spike that Sykes HAD covered, and in his post he said:

    “i would have flipped from short to long would it not be unethical for me to trade against my slow-as-$%$^ subscribers”

    So why were you *still* short on the second late day spike?

    It was time to go long, or cover and do nothing, but not remain short. As Tim said, he did not IMMEDIATELY go long on the FIRST morning spike, to prevent subs from becoming confused and as a courtesy. By the afternoon, it should have been obvious that the winds had changed.

    One good thing about Tim is he does try to teach subs to learn the game so he is eventually not needed. He spelled out the short cover rally long options, which is something to learn from these and other related plays, so it was no surprise at all to me that he went long ZANE later on in the day on the second spike. I pretty much saw this coming.

    He posted again on his long decision about 56 minutes before the close. None of what he said was surprising, it was instructive and a good learning experience.

    Learning to think for yourself and *manage* live plays is one thing that is essential to master, and Tim has tried to do this in blog posts and trade recaps by explaining reasons for entries and exits applied to stocks that are alerted. This game is dynamic, not static…

  7. Hey mordy and other dumbasses, had u bothered to read y alert i said this was a potential buy, gave it all day for it to fall apart and yet it didnt…not other stocks to trade when this pattern i know full well…if this thing spikes to 4+ tomorrow, i’ll be a hero for having warned everyone early…if not then i’m a pumper…screw u all for not reading my alerts or learning from y dvds that failed morning panics becoe morning spikes, i have to push my dvds harder

    PS not 1 person canceled tonight, strange…i dont think there were any short sellers left, and if there were, they arent my students, stock promoters trying to discredit me

  8. Tim,

    With all due respect, what is with the hostile attitude to your paying subscribers lately? I’ve seen you call them dumbasses, morons, ignorant, and I think I saw a pissant today. I know its easier to call people this over the net vs in person, but I expected some professionalism when your asking $50-99 a month.

    My renewal does not come up for a while, but you have me thinking. I want to trade stocks and make money. Not to keen on links to your online fights, nor the increased hostility to questions/comments from paying customers.

    Anyhow, good luck Friday. I just thought I’d throw my 2 cents into the hat.

  9. There is no professionalism when I get accused of fraud, manipulation, frontrunning…I simply am not gonna take it…I’ve been responding very nicely and politely, but it all goes down on LiveStock tomorrow

    PS point taken

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