timothysykes

Entry comments: Shorting the morning spike

Exit comments: Made $6 /share hasn't happened in a while nice trade here

5
140

DatePrice
Entry1/7/201490.00
Exit1/7/201483.86
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JVP3122
JVP3122Jan 08, 14 11:16 AM

Tim, did you short on the uptick to 90 or after it had started to come back down? Was there a specific clue that told you it was just a morning spike instead of a continued run-up? You mentioned yesterday that the people who were shorting early were not following your lessons but at the same time shorting at 90 is still a positive 11% so the stock hadn't gone red yet. No criticism, just trying to learn

timothysykes
timothysykesJan 08, 14 1:17 PM

wait for video lessons/ask questions during challenge webinars, no time otherwise, everyone wants answers, stip being lazy

JVP3122
JVP3122Jan 08, 14 3:40 PM

I'm not being lazy. I've watched both Pennystocking DVD sets and you almost universally say to not try to guess the top and wait until it goes red/has its first down day. I was just asking because this trade seemed to go against what you taught in those DVD sets.

Sharny
SharnyJan 08, 14 9:51 PM

I feel the need to ask the same quest as JVP too. I think that was a good question. I banked $5000 catching while it started to fall...wish there was a tip to know the top instead of catching @ 73. Thnx anyway.

Nicademus
NicademusJan 27, 14 5:18 PM

There is no exact science! Just like anything else, the more you do it the better you will be. You can see clues on L2 clues in T&S and using daily minute charts to see what you need to see.

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