I recently hit a century on the trading pitch. I entered FIG at 1.20, had a weekend hold after an incredibly friday. Held Monday, and sold on the Tuesday morning breakout. My exit was perfect. I saw the percentage gains, knew a sell off was inevitable after the near 35 cent breakout in just 2-3 minutes, and got a full fill at 2.38. This was a near 100% return. I'm really proud of the way I handled the movements of the stock between the point I bought at and the point I sold. The path was not direct. As always buying and selling during panic breakouts or sellouts is not a good idea. You can significantly add to your loss if you close during a panic. Mostly this applies to sell off's, I will explain why.
When I began trading around JUNE. The hot strategy was "green to red" and short. Playing a stock long seemed inexplicably complex. "Red to green" didn't always hold up, so I wasn't sure how to tell if a stock was ready to rise. The "green to red" strategy was made popular by timothy sykes, and it was transparent that many of his minions had infiltrated GOTS and were trying to spread this gospel. Muddy, being the brilliant trader her is, stuck to his key phrase which is simply waiting for confirmation on a stocks predicted path. I had not made up my mind back in August, but I was certainly only playing shorts for the most part. It has become clear to me that the nature of many day traders too, was that shorting was the best way to some quick gains. Market makers, more experienced by definition, can easily respond to the way the masses are thinking. After all, this is their job. It seems like the pump and dump is losing it's strength. Stocks like SIL and FEED and COIN aren't dumping as easily as they have in the past. This is expected. Any profitable strategy in the market will become apparent, be exploited till the point where it becomes common knowledge and thus harder to succeed in. I'm not saying pump and dump is dead, but if you've been around watching pennystocks as long as I have, you'll know there is emerging a strategy to respond to pumps and sell offs that is PRIMED for profit.
There has been a huge increase of pennystockers courtesy of Timothy Sykes. Most don't know what they are doing. When they short, you can gain. Enough said.
If you wish to discuss this strategy further, and are noticing things as well. I'd love to talk. lakhani.nirav@gmail.com
