October 28, 2008 Tim Alerts Winner ($HSNI) Timothy Sykes Shortstocking and Short Squeezes

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How I Turned A Bad Trade Into A Good One On HSN, Inc. (HSNI) As Stubborn TIMalert Subscribers Screwed Themselves

As TIMalert subscribers know, lots of trades on HSNI yesterday, I managed to make $200+ by cutting my losses quickly and then re-entering, as I encourage everyone to dobest explained by the alerts themselves:

Shorted HSNI at $6

just as i said i might in my pre-market watchlistthis one is easy to borrow, its a real company, but its a really bad company, retail selling is gonna get crushed this holiday season, stock has gotten crushed, but its up 50% off its lows, mostly due to a short squeeze6 million shares have been shorted in the last monthmethinks it goes lower, just went red on the day (i gladly ignore the morning drop, its too quick aka useless for an alert newsletter), albeit just barely, support at $5.80, after that $5.40 and then $5ill look to cover just above $5 in the next 1-2 daysill get scared of this short on any strength into the market close today/big market turnaround.

Covered at $6.20, safe

stock was/is acting perfectly as a nice fader, then the whole market jumps 3%, as i said in my original alert, i would get rid of my short if there was a big market bounce, not gonna risk some ridiculous overnight gap upgotta know your risk/rewardstock still coning down to $6.10, pathetic it cant even stay green on the day, bodes well for longer term shorts, but with my limited capital, i cant risk itglad some of you guys took profits quick/early, i tried to cover at $5.80 right before the jump, but missed my execution, paid the price$300 loss still totally acceptable since potential reward was $1000+

reshorted at $7.30

1500 shares, easy when you cut your losses quickly, much better entry, ill love to cover under $7 and actually make $ on this whole deal, ideally before the market close!

covered at 6.92 and 6.90

for a gain that wipes out ...

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[TheSallasPalace]

what a goober