10 Questions With Greenbackers.com
Posted by timothysykes on Sat 19th of Jul, 2008 01:44:26 PM
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TIMalerts isn’t the only newsletter that focuses on low priced stocks…I’ve been following Greenbackers.com on and off for several years…check out this interview I did with their founder, Mark Chacon:
Greenbackers has been around for 9 years, but became somewhat dormant from
2004 to 2007 due in part to owning/managing a retail outlet and land. During that period we still managed the newsletter, but it became secondary. Late 2007, it became apparent in my heart in needed to get full blown again with my website, and my passion for the stock mkt.
1. What’s your background?
after getting a bs degree in finance from University of Southern Colorado, i went on to develop banking software…….actually participated in one of the first development teams to create/implement the first ATM / minibank ……spent the next 15yrs developing acctg software for banks/related……Made the switch in 1999 after running up to 100,000 during the internet bubble, and founded Greenbackers.com.
2. What’s your trading style?
Tend to favor 2-5 day swing trades with quality stocks under 5 on the long side. Tracking solid trending patterns. Especially like tracking recent debacle stocks for pivoting. Track first day movers on very strong earnings for developing into ongoing strength…….Relay about half and half with fundamental/technical analysis…becoming more and more up to speed with technical charting in 2008.
Also like buy/holding for a month or so on anticipation plays……..pay particular attention to stocks who get upgrades ahead of earnings.
Recently, I read your ‘An American Hedge Fund‘ and was inspired to make my first short trades. Finally after all these years.. Even though the concept is rather simple, it takes some getting use to.
3. What’s you best trade?
have had some pretty good trades lately. doubled a large position on BCS when it collapsed back to 3 back in march……..ran up New Century Energy Corp. (NCEY) from .30 to .68 a week ago…ran up Tengasco, Inc. (TGC) from 2.20 to 3.70 recently……..single best all time trade was running up Akamai Technologies, Inc. (AKAM) from 20 to 200 back in 1999-2000
4. What’s your worst trade?
A string of them when the internet bubble burst. kept getting suckered
into relief rallies…….finally pulled out completely with about 65% of my
runup in august 2000
5. What the #1 lesson/rule you’ve learned over the years?
Lock in those runups!! pay off debt / buy a house / buy a toy……..but
lock it in………I bought a bunch of land when I pulled out in summer 2000
and went on to score nearly a mil after holding the land a few yrs…
6. Why do you think most traders lose money, what can they do differently?
If you’re going go long on most of your strategies, you gotta learn / develop the patience to sit on the sidelines from time to time. Staying on sector rallies long beyond their height hurt me. Learned that lesson
7. How have you spent your winnings? Inspire us!
Back during the internet bubble, I ran up 5,600 to nearly 260,000………ultimately, I lost about 1/3rd when the bubble burst, however I had enough sense to lock most of it in buying several pieces of mountain land in Colorado that were being foreclosed during the RTC meltdown (recall Neil Bush (George Bushes’ Brother was part of that meltdown). The land appreciated nicely following purchases
8. Tell us about your newsletter
Has evolved into a hybrid of sorts, with about 1/2 of the input being my own
input and the other half coming from best reads from rival newsletter
writers / analysts
> 9. favorite stocks right now, long or short
Liking TGC now that it has fallen back to lower 2 range……..is one of the
best financials we cover under 3……
Plenty of debacle stocks back in may/june are staging some interesting
comebacks…….IDEV NEXC ATSG to name a few.
Alternative energy stocks may be out of favor presently, but this is no
passing fad. look a rebound in the sector into the fall…….Liking HYGS at
1.40, now that it has pulled back a buck+
10. How have u done this year?
so so. up a little overall. I’ve actually made a lot of good calls for
my subscribers the last three months, but I haven’t had the balls to
practice what I’ve been preaching.
Check out my brand new DVD, ShortStocking - the only guide you'll ever need to profit from short selling!
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 20 | STXS | $3.21 | $3.48 | $813 |
| Nov 18 | PERY | $4.68 | $5.00 | $640 |
| Nov 11 | IIJI | $2.79 | $2.95 | $442 |
| Nov 6 | CVI | $4.42 | $4.70 | $530 |
| Nov 5 | MECA | $3.68 | $3.95 | $490 |
| Nov 4 | CVI | $5.18 | $4.94 | $472 |
| Nov 4 | CVI | $4.83 | $5.01 | $333 |
| Nov 3 | NAK | $3.30 | $3.37 | $157 |
| Oct 31 | IDAE | $2.18 | $2.18 | $20 |
| Oct 30 | HSNI | $7.37 | $7.86 | $561 |
| Oct 29 | EVC | $1.97 | $2.70 | $1439 |
| Oct 28 | HSNI | $6.92 | $7.30 | $540 |
| Oct 28 | HSNI | $6.20 | $6.00 | $320 |
Total: $35,854 (189%)
Mark
Great run up during the tech bubble from $5600 to 260gs and finally ending up with 175gs not bad. Damn wish I was in he game during that tech bubble. Things sounded so simple back then.
new post:
http://www.timothysykes.com/ti.....k-version/