Timothy Sykes Review
I recently found a pro penny trader, Timothy Sykes
, that has almost the same feelings as I do about penny trading – that the penny stock market is one big cesspool of scams, lies, and half truths made to pump and dump cheap stocks on naïve traders. He also, believes, as I do, for those that don’t buy the lies, there is easy money to be made.
The difference between he in I is that I am an Internet Marketer first with several money making websites that trades for some easy money on the side, while Timothy Sykes is a full time trader that has immersed himself into the penny market, honing his penny scam perception skills so he can take full advantage of the pump and dumps – mostly he takes advantage of the dumps.
Shorting penny stocks is not a bad idea. It’s much easier to get in on a dump early hoping to find a pump early. It’s also easier to predict when a penny stock will drop rather than when one will take off. Many penny pumps gain most of their percentage gain during the first day, so if you don’t know the person doing the pump and dump you need to watch like a hawk to find one early. After the pump, all you need to do is watch the chart and wait for the dump.
Anyway, Sykes has a paid newsletter and lots of instructional material. I am currently testing his newsletter picks which so far have all been on target. The only problem with shorting stocks (and his system) is that it is often difficult to find shares to short. It can be very frustrating knowing you are going to see a stock crash and you can’t get any shares to short. To use best use Timothy Sykes system, you will need to have a variety of brokerage accounts to give you a better chance to find shares to short. Of course, not many can afford to have several brokerages with the minimum of 25K in them for unlimited day trading so for accounts under the minimum 25k, make sure you don’t do more than the maximum weekly day trades.
Of course, Timothy Sykes almost always gets his shares (at least he says he does), but he is one of the first to spot an opportunity. This is where his DVDs Program comes in. He has a ton of instructional DVDs explaining his methods. If you learn to find the stocks your self, you won’t have to face fight other members for shares to short on his picks. I will do some Timothy Sykes DVD Review posts as I buy and watch them so stay tuned. (Tim, when you read this, contact me about your DVDs so I can review them here) For now, I’ll just let you know how his picks are going.
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About the Author: I have plenty of sites that talk about making money on the web. I figured it's time to start a site that talks about saving money on the web. After all, a dollar saved is pretty much the same as a dollar earned.