The Following Was Taken From Timothy Sykes.com:
How I Turned A Bad Trade Into A Good One On HSN, Inc. (HSNI) As Stubborn TIMalert Subscribers Screwed Themselves
Shorted $HSNI at $6
just as i said i might in my pre-market watchlist…this one is easy to borrow, it’s a real company, but it’s a really bad company, retail selling is gonna get crushed this holiday season, stock has gotten crushed, but its up 50% off its lows, mostly due to a short squeeze–6 million shares have been shorted in the last month–methinks it goes lower, just went red on the day (i gladly ignore the morning drop, its too quick aka useless for an alert newsletter), albeit just barely, support at $5.80, after that $5.40 and then $5…i’ll look to cover just above $5 in the next 1-2 days…i’ll get scared of this short on any strength into the market close today/big market turnaround.
Covered at $6.20, safe
stock was/is acting perfectly as a nice fader, then the whole market jumps 3%, as i said in my original alert, i would get rid of my short if there was a big market bounce, not gonna risk some ridiculous overnight gap up…gotta know your risk/reward…stock still coning down to $6.10, pathetic it cant even stay green on the day, bodes well for longer term shorts, but with my limited capital, i can’t risk it…glad some of you guys took profits quick/early, i tried to cover at $5.80 right before the jump, but missed my execution, paid the price…$300 loss still totally acceptable since potential reward was $1000+
reshorted at $7.30
…1500 shares, easy when you cut your losses quickly, much better entry, i’ll love to cover under $7 and actually make $ on this whole deal, ideally before the market close!
covered at 6.92 and 6.90
…for a gain that wipes out the $320 earlier loss and puts me up $200+ on the day, back to $30,945, 150% return in the last 12 months…HSNI still dropping, but market surging bigtime, overnight gap higher possible…these trades are perfect example of why u need to be quick if you’re gonna play these stocks…don’t trade if you only have 1 trade to make today–always have an exit strategy, don’t play them if you’re at your computer for 30 minutes/day–wait for ideal plays (like the Supernovas I detail in PennyStocking ) to hold over days/weeks…gotta think before you trade, I try to find good plays with good risk/reward, but if you don’t understand the strategy or don’t have the proper setup, you’re setting yourself for a big fall.
took first position at 6.07 because of your morning alert, took second position on timalert at 6. Covered at 5.75 to soon but still grossed 560. Thx c u in Vegas
-NJBM
Tim Alerts Winner ($HSNI) Timothy Sykes Shortstocking and Short Squeezes
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