Timothy Sykes, Short Selling and Racist Tweets

We can disagree on trading positions all day, there is nothing wrong or new about that. People have disagreed  on trades since Wall Street was just a wall. But I think we can all agree there is no place for racism simply because you disagree with someone's opinion on a trade. The lowest point about today's Twitter argument regarding $PGFY-which most of you witnessed - was Timothy Sykes racist tweet to Modern_rock. Take a look below for yourself.

The above tweet has now been deleted by Timothy Sykes, but I took this screenshot from someone who captured the tweet before he deleted it. Whether you were short $PGFY, long $PGFY or had no position on it - like myself - I think we can all agree that there is no place for this time of racism nor was it necessary.  I found myself wondering what consequences Tim Sykes would face if he were a more public figure. After all, Donald Sterling - the owner of the NBA Los Angelos Clippers - was given a lifetime ban for his racist remarks. Hopefully Timothy Sykes can conduct himself with more class or at the very least leave the racist language out of arguments.

For those who are unaware what the arguement was about, below is a little background:

So the long awaited StockTips was finally released this weekend. The  pick as you probably already know was $PGFY - Pingify International Inc.

The smart money got in late last Friday, as the pick had been leaked onto StockTips Facebook page by a "VIP" member. Traders who got in early got a nice gap up on Monday morning to sell into. Going into Tuesday, Timothy Sykes and I got into a little argument about "Short selling" $PGFY. For the record, I had and have no position whatsoever in $PGFY. But as a "guru" it may serve Timothy Sykes well to appear to be perfect. Now I have no problem with that. I do not subscribe to Timothy Sykes nor would I recommend him. But I would confess, I do have a terrible allergy for Bullshit and I tend to call it out every now and then. Tim Sykes began tweeting what I would describe as "excuses" just in case he was wrong, I suppose in order not to lose subscribers. Here's how our conversation went

Now I understand the concept behind "finding shares", I short sell all the time, but since when did shorting pumps stop being about wins/losses? The last time I checked, people trade stocks in order to make profits not losses, so wins/losses do matter. But perhaps this is the persona he feels he needs to maintain - just my guess.

Above is another screenshot of our conversation. Curious to know what trading is about if it isn't about making profits and doing what you love. But hey, I don't claim to know everything. Notice below how Tim takes credit for someone else's hard-work. I suppose in the effort of promoting his "alerts" service and Profit.ly which he linked in his tweet.Cactus Trading hits the nail on the head with his tweet. I suppose Tim Sykes invented penny stock trading and shorting as well. Haha. Full disclosure; Elkwood66 (real name Eric Wood) is a millionaire trader whom - in my opinion - is NOT a Tim Sykes "Student" but a subscriber. He is also a subscriber to the InvestorsUnderground chatroom for which you can sign up HERE. Although he gave 'some' credit to Tim Sykes a couple years back in a youtube video, he made it pretty clear in a more recent video that Tim Sykes service was somewhat inadequate and that InvestorsUnderground took his trading to the next level. Just fast forward the video to 4:25, you can see the video HERE. Now this is not a recommendation for InvestorsUnderground, everyone is free to make their own choice, I just can't help but call out BS when I see it. In my opinion, Eric Wood made Eric Wood a successful trader, obviously with a lot help from others. A couple of Tim's subscribers cancelled within minutes, while he began attacking a prominent trader on twitter Modern_Rock. Modern Rock had been on long $PGFY, but stayed disciplined and still managed to make more money that Tim Sykes by short selling $PGFY intra-day. Modern Rock is one the best traders out there and is always willing to give free and valuable advice. I recommend you follow him on twitter HERE if you haven't already.

 Above shows a picture of a cancelled Tim Alerts subscription. Below is a picture of another cancelled subscriber.

As you can see from the "renew" date, these are two different subscribers who cancelled within minutes. This pressured Tim Sykes to eventually backpedal and issue an "apology" - if I can even call it that. My guess is his "apology" was made due to the fear of losing "subscribers". Subscribers that help put money in his pocket but somehow he fails to treat them with respect.



I wrote this blog just to clarify questions I had gotten regarding today's twitter argument between Timothy Sykes and myself. I would be posting more trading recaps in future blogs and explaining more chart patterns.

You can follow me on twitter here - @rock_alerts ...Good luck seeking alpha,
Signed, Rock Trader