30 Days Tim Sykes Challenge
Today marks the start of my 30 days Timothy Sykes challenge. Some of you probably have heard of him before, but he’s made a name for himself by turning $13G into a million. Some of you maybe saying “What, is this guy for real? He can’t be legit. How can anyone turn $13G into a million?”
So is he real? Well how about I find it out for you?
He currently has a subscriber only service called “TIM Alerts” that lists all of his daily watch lists and how to play it. I’ve subscribed to his alert yesterday, and for the next 30 days I’ll see if I can end up profiting just from following his list. I’ll scan his suggested list of plays, determine whether I agree or not myself, and execute. You just sit back and see if it’s really worth $30/month.
Tim Sykes Challenge DAY 1 – SPRD
SPRD surged 90% on Friday after winning a big contract with Samsung Friday…even after the rise, the stock is trading at cash, book value is much higher, this is a value play that most people thought was gonna go out of business….reminds me of FEED and a potential multi-day runner, my girlfriend bought some right before the market close, I was too much of a baby….should have continued strength except for overall market weakness will hinder any huge rise…potential buy if it can breakout past $2, Friday’s high.
Looking at the stock, it had a huge rally Friday on a big news. As I posted before, I agree with multi day rallies on a big news. So I decided to buy it with a stop loss of $1.79.
Today it opened strong but ended up losing a ton of strength by end of the day (ended only a penny above the Friday close). Today’s bear market probably didn’t help either. Still too early to let go. I shall see tomorrow how it does, but looking at today’s weakness it could easily tank tomorrow. I’m ready to take a loss and let it go.