I'm going to Las Vegas!

Yes, that is right! I just signed up for Tim Sykes’ Las Vegas pennystocking seminar. I will be in Las Vegas from Saturday October 17th until Tuesday October 20th and I will be staying at the Excalibur (yay for cheap rooms on the strip!). It is still not too late for you stragglers to sign up for the seminar. The seminar is truly a great deal as I explained in my earlier post on 8 reasons why you should go. For an investment of only $847 you get to attend a seminar that lasts for two full days (if you cannot attend, Tim offers the option of seeing a live webcast of the event), you get to meet such great pennystockers as myself and InvestorsLive (not to mention Tim Sykes), you receive DVD recordings of the entire seminar, you receive any one of Tim Sykes’ DVD packages, you get to attend the wild and raucous pennystocking party Tim will hold at the end of the seminar day (at which I have foolishly pledged to buy a round of drinks for everyone and Tim Sykes will be goaded into doing likewise).

So don’t be a party pooper and sign up for the Vegas seminar today! If anyone who is going is interested, I would like to get together Saturday night to shoot the shit, eat food, and pound back some iced teas (no way am I going to get a hangover before this awesome conference!)

Daily trade recap for September 10th and watchlist for September 11th

Video trade recap and watchlist. See my recap of my great trade on XSNX which was the only interesting trade I had today.

Daily profit: $1,602.90



Watchlist

QELP – up 103% on no news but huge volume. Could be good either way. Long on strength, short on green/red action.

RVEP – same deal, up 100% (but on tiny volume of 150k shares). Both of these are master-limited partnerships that deal with energy (likely pipelines). What that means is that if you trade them you will have to file a form 1065 (annoying).

QRCP – long on red/green or breaks to new highs tomorrow. $0.90 is an important point but it will be overextended if it hits that so I wouldn’t look to buy then.

INHX – up 100% on huge volume and no news in three days. Short on green/red and fading price action. This is my prime candidate for a trade tomorrow.

Disclosure: No positions. I have a disclosure policy.

How I made $1,600 (20%) by short selling pump & dump XSUNX, Inc (Public, OTC:XSNX)

XSUNX (OTC BB: XSNX) was pumped this morning by StockPreacher (whose pump of ALAN was an awesome short for me months ago) and Beacon Equity (both are owned by the same people). They were paid 900,000 shares by the company to promote it. Timothy Sykes had a good blog post about this pump. You can see the pumper’s disclaimer below. One nice little touch is that Beacon Equity’s disclaimers are images so it is harder to search to see how much they were paid for each pump.

xsnx_disclaimer
(click here for a larger 1-day chart of XSNX).

XSNX
XSNX

As a result of the pump the stock jumped from $0.12 to $0.22 in under 15 minutes. I sold short 35,000 shares at $0.202 at Interactive Brokers just as it started to fade off of its day’s high. The one problem with short selling such a cheap stock is it is not only not marginable, but short selling stocks under $2.50 per share requires $2.50 per share in cash. So short selling this stock required that I use $87,500 in cash. Still, It was a super-easy short with little risk. Except for the first minute, this trade was never in the red. The stock fell quickly with only anemic bounces. Just over one hour later I covered my short position at $0.156 when I got bored and netted $1,612.37 with a profit margin of 22.8%

By the way, it is still not too late to sign up for Tim Sykes’ Las Vegas Seminar on October 18th and 19th. If two more people sign up using my affiliate link in the next couple days then I will go to the seminar too! See my previous post on the seminar for all the great reasons you should go (and a special benefit–a phone consultation with me–for those who sign up using my affiliate link).

I should also point out that I informed my Twitter followers about my intention to short XSNX even before I got filled on my short sale order so any of them with Interactive Brokers could have easily made 20% shorting this pump & dump with me!

Disclosure: No positions. I have a disclosure policy.

Watchlist for September 10th

No charts tonight as Stockcharts.com is down. I can’t say I did a super-thorough job scanning tonight. I’m a bit tired after my intense trading day today. I’ll update the list in the comments tomorrow to add in my thoughts on pre-market leaders.

ENCO – short on green/red. Its news today wasn’t that great and it faded slowly all day after its initial morning spike.

OPXA – I expect more red, but less than today. I probably won’t trade it again.

AEN – Same as OPXA.

VVUS – I like it as a buy on the break of today’s high of $12.50. The news was good and obesity drugs may get the daytraders all excited.

Disclosure: No positions. I have a disclosure policy.

A tribute to a great trade on Opexa Therapeutics Inc. (NASDAQ:OPXA)

Good day today! I nailed OPXA and AEN and I was lucky and didn’t lose on VVUS despite accidentally buying 10 times more shares than I intended (+$142.75 on that). I made $2,537.60 on OPXA (9.5%) and $340.32 on AEN. +$83 on a quick scalp of ENCO long (by the way, if you follow me on Twitter you saw I called it as a short at .90 and said it would close around $0.73 … it actually closed at $0.70; too bad I didn’t follow my own advice to short it).

By the way, it is still not too late to sign up for Tim Sykes’ Las Vegas Seminar on October 18th and 19th. If three more people sign up using my affiliate link in the next couple days then I will go to the seminar too! See my previous post on the seminar for all the great reasons you should go (and a special benefit for those who sign up using my affiliate link).

One thing I should point out about my trades today … I often scalp Tim Sykes’ TimAlerts, but that doesn’t mean that I don’t believe they are good for longer-term trading. Today I actually shorted OPXA 30 minutes before Tim Sykes shorted it and covered it over an hour after he covered and I didn’t scalp off of his alert at all (I did add 2,000 shares to my position when he shorted).

Today’s profit: $3,103.67

Disclosure: No positions. I have a disclosure policy.

How I messed up an easy trade of Opexa Therapeutics Inc. (NASDAQ:OPXA)

In medicine they talk of “never events” or things that should never happen, such as leaving a surgical instrument inside a patient. Failing to buy OPXA on strong drug news today as it broke above its recent high of $2.85 was a “never event” for me … I messed up a trade with an almost perfect setup. It should have been an easy $1 per share trade from $2.88 to $3.88 or so. Learn from this so you don’t mess this up in the future.

opxa

By the way, it is still not too late to sign up for Tim Sykes’ Las Vegas Seminar on October 18th and 19th.

Daily profit: ($331.00)

Disclosure: No positions. I have a disclosure policy.

Watchlist for September 8th

EXXI – long on red/green or $1.50 cross, up big Friday on earnings release, could keep running

exxi

GTN – long on breaking $1.14, can run, sector is still hot

gtn

JAZZ – could be a flipper. Big technical break Friday but ran big already. Short on weakness, buy on strength.

jazz

BONU – promoted crap. Short on green/red. Shares likely unavailable everywhere.

bonu

NVTL – could be decent on red/green or break of $11.37, not a great history of running though. Tends to gap instead.

nvtl

IVAN – buy on break of $1.85 or red/green

ivan

Disclosure: No positions. I have a disclosure policy.

Trade recap for September 4th

I missed a beautiful breakout on JAZZ but made two nice quick trades off of Timothy Sykes’  TimAlerts.

If only three more people sign up for Timothy Sykes’ October seminar in Las Vegas using my affiliate link then I will come to the seminar too!


Daily Profit: $2,999.50
Weekly Profit: $3,561.16

Disclosure: No positions. I have a disclosure policy.

Top 8 reasons why you should attend Tim Sykes' 2-day seminar in Las Vegas on October 18th & 19th

1. Tim Sykes is the top-ranked trader on Covestor and he has been in the top spot for over a year.

2. The seminar is only $847 for two full days ($497 for one day). For getting access to Tim Sykes for two full days this is a very good price. For the price of the 2-day seminar you will also receive a complimentary copy of any of Tim’s DVDs (I recommend Pennystocking Part Deux, a $497 value). So in essence you are receiving two full days of small-group instruction for only $350. That means that you are essentially paying only $22 per hour of Tim Sykes time. Now that is a good price.

3. Attendees will receive a set of DVDs of footage of the entire conference (this only applies to those who who pay for both days of the seminar).

4. If you cannot attend, you can still see a live webcast of the conference! If you choose this option (only available for the full two-day seminar) you will receive all the goodies I mentioned above (free DVD set of your choice and DVDs of the entire conference). More info on the live webcast here.

5. He feeds you! As you can see in the photo below of me and Tim Sykes, there are plenty of tasty pastries and fruits for breakfast and the gourmet boxed lunches were also quite good.

seminar_1

6. The seminar is in Las Vegas! What can I say! It will be great to party it down with other pennystockers.

7. I attended last year’s one day conference and even though I had already purchased Tim Sykes’ DVD Pennystocking and I had been a TimAlerts subscriber for five months (having made over $40,000 in profits using Tim’s system during that time!) I still learned from the seminar. (Others who were less experienced learned even more.) Perhaps the most useful aspect for me was seeing Tim Sykes trade a stock during the seminar and seeing how he examined the trade, watched it, and decided to exit the trade. I also liked having the ability to ask him questions about how he thought of a stock’s price action as we were watching that stock during the trading day. I am sure this year’s conference will be even better because it will be twice as long and attendees will get to see how Tim does his research Sunday to find stocks to watch and see how he watches (and potentially trades) them the next day.

8. If six or more people sign up for Tim’s seminar using my affiliate link before September 11th, I will come to the seminar too and buy a round of drinks for everybody after the seminar is over [edit 9/11/2009 — I am definitely going now!].

Disclosure: I am an affilliate of Tim Sykes as well as a customer (although I did not become an affiliate of Sykes until after I had gained over $20,000 in trading profits using his system), having purchased multiple of his DVDs (I recommend Pennystocking Part Deux; it is by far the best) and being a Lifetime TimAlerts member. I own Pennystocking, Pennystocking 2, and TimRaw. I have a disclosure policy.