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Made A Quick $200 On A Short Trade

25 September 2008 6 Comments

Yesterday, I got alerted via email about a great potential short trade where a small company had gone up 400% in three days. The technicals were looking great for a potential correction. I shorted 600 shares of SIL at $3.60. I put a stop at $3.75 in case it shot up for some reason. As the afternoon continued on, the stock started dropping. As it dropped, I moved my stop lower and lower to lock in some profits. The stock went as low as under $3.00 but it bounced and hit my stop at $3.22. In this market, it’s nice to make a quick $200 on a day trade!

You can be alerted of these potential moves also. I’m a subscriber of TIM Alerts which sends out daily notices of stocks poised to either breakout significantly higher or stocks poised to correct sharply. Either scenario can result in some serious gains. I’m loving the subscription.

6 Comments »

  • torbjorn rive said:

    All you need it candlesticks and some balls to make quick trades. I did so with a quick $500 bux on gold about a week ago. Whether your paying for a service or not it’s always a certain gamble.

    p.s – to back up (or even out) out your exposure to CHK you may want to go short now with DUG. I think Oil/Gas is about to take another shot to the head.

    …consider it, anyway.

  • kevin duffey said:

    torbjorn:

    I agree, but having a subscription service that notifies me of ideally positions stocks poised for a specific move provides me with trading opportunities.

    I have a full time job and am unable to monitor and track stocks throughout the day to find these well positioned stocks myself. The service I use is through a guy named Tim who is up 127% in the last year. His record demonstrates his success and his service lets me mooch of his knowledge without having to search for these stocks myself.

    While I ignore many of his alerts since I’m not looking to trade full time, I do make moves on the potential trades that have a more clear direction or higher confidence. It’s by no means guaranteed money, but the track record is impressive.

    Thanks

  • kevin duffey said:

    torbjorn:

    Glad i hedged my CHK position with some DUG. DUG is up huge today.

    Where do you anticipate the bottom in natural gas? The question is what do i do with profits from DUG when i sell that position, keep the cash or roll them into a CHK position possibly at a share price in the 20s?

  • torbjorn said:

    True. I by no means mean to imply that trading is easy stuff. I was just kinda typing. Also, you are right in the time consuming factor. I only WISH I had the time to make more trades and monitor my lists; in which case the service would be really handy.

    I’ve heard about Sykes. Both the good and bad – and I really respect how he came about his business (from less than 10g, to millions, and back down again)…and his record. You’re lucky to personally know a guy like that.

    have a good weekend!

  • kevin duffey said:

    I’m with you.

    Whats the bad you’ve heard? I’ll tell ya if it’s true ha

  • torbjorn rive said:

    Nice. I’ve been hanging back from the market for the past few days, but did kick some ass with DUG a few days back. it’s a good stock to swing trade, good work.

    One technical chartist that i like to follow believes that oilgas will soon bounce quite largely, as in back up 30% over the next few months – BUT he firmly believes that it will continue to show a downtrend overall. as long as CHK trades in line with oil (i like to watch OIH) it’s – as you say – only a good buy at even lower levels. I personally want gas to unhinge itself from oil, but until then I’m probably just going to trade these moves, and not “invest” in either one.