Don't be greedy with it it's a pump and dump I'd take profits

Thanks for the great input guys. I got out at $3.40. I did keep going and eventually crashed to about $2.85. Then immediately spiked again! I got back in at $3.35 and rode it up again, where it eventually closed at $3.80. I'll get out quick in the a.m. Keep grinding fellas!

*It did keep going...

@robert88 I am glad you took some profits. The big concern is that the later in the pump it gets, when volatility is at its highest, the SEC might come in and halt the stock. When that happens, you could easily loose 80% of your position when it re opens. Keep up the good work!

question- When you guys say short the first red day, does that mean shorting mid day, but on the exact day that it is going red or does that mean the day after a red day

@robotcat2 Hey Colby. The first red day is defined by a stock closing below the previous days close. Often with these supernovas and pumps you may gap up, and have a red daily candle, but it is still technically "green" on the day. When an overextended stock finally has a red day you may want to be short anywhere you can, because the next down will often be down even further.

@robotcat2 Check out the $CYTX chart for an example. Mid February you had about a 5 day run-up where every day was "green" then there is that big red candle on the 16th. That was the first red day when the close was before the previous days close, any short position on that day could have been covered anytime the next month for a profit.

Great analysis of what went on in your mind during this event. Documenting the catalyst and the reaction "WITHOUT TRADING" is so helpful and gives a deeper understanding of the mechanics behind the thoughts we have before we make the decision to buy or short.

Really great notes and solid observation!

@manintheboxvideo Thx Dempsey. This Past week has been very interesting as I finally put on the brakes and gave my over-trading a rest. I am looking forward to the coming week to see if I have improved my patience!

haha ya for sure I watch for it regularly in fact it did a mini version at the open this morning

Nice. I think Tim's hammered this into everyone's head by now. Too bad most setups aren't as predictable as this.

Awesome TRADE! Tims repetition over and over again paid off.

nice

@susanfisch Susan Hi. There are lots of basic videos online, but you are going to have to invest in your education. Start with HTMM it is the best value http://profit.ly/store?aff=7028 This link will take you to the DVD's HTMM is a must! I tell most people to familiarize themselves with "Japanese candle stick charts" first. You really should study for 3-12 months before making any trades.

Keep pluggin away! Awesome outline!