Update on Timothy Sykes Penny Stock Trading

I just cancelled my subscription to Timothy Sykes Penny Stock Service.

First I want to say that Timothy Sykes is a real trader and the guy defiantly knows how to make money trading, and you have to give him credit for that.

But his TimAlerts have been so watered down lately with the addition of his portfolio investors. This means that whenever he makes a buy, he buys for his account, then he puts in a buy for all the money he is managing, then he puts out the alert for the instant message people, then after everyone else is in their position he put out his email alerts. So it’s pretty safe to say that by the time the email gets around to you the stock will have already run up 25 to 55 cents, and a lot of the people who were in it first are now looking to dump it to you for a quick profit.

So a large percent of the time you will be buying at the top if you hit the buy button when you get your alert.

The other problem is that the lions share of the money is made by short selling, and most of the time he reserves his shares very early in the morning, so he has most (sometimes all) of the shares locked up so he sells 15,000 shares and then reports his $5000 profit meanwhile you sit in the sidelines and watch him make money.

After a while that just get plain depressing.  The only other option would be to try and figure out what reports he is researching, and what type of homework he is doing at 2 am in the morning, and then try to beat him at his own game.

I am probably not going to live long enough to be able to accomplish this, besides I really have to sleep at night. I can’t spend all night reading through reports trying to find some little piece of information that will land me a trade.

Anyway, like is said to begin with, he is the real deal, he is a great trader and is making some serious money, and for the right person who can figure it out and has time to try and do what he does it could be a terrific opportunity. But for me I’m not sure I can learn this and I know I don’t have to kind of hours he does to pour over SEC filings and sift out the valuable information.