At times it is borderline amazing how with a little education, studying and hard work how ridiculously “easy” shorting pennystocks is. I spotted a break down in $OREX and decided to go short a couple thousand shares with the intention of holding a few days. After getting bored and seeing roughly $600 in profits I decided to cover yesterday morning. After getting filled I profited $464. Which was a complete and utter failure of execution.
Notice the annotated chart below you will see two circles. My entry and exit. Then follow the chart into today, you will see I gave up at least $1000 MORE in additional profits. Don’t get me wrong I’m not crying about making $500 in 10 minutes of work. I’m just trying to point out how highly lucrative shorting pennystocks can be! Especially when you consider the extremely low time commitment.
— Timothy C. Bohen (@tbohen) July 31, 2012