TNGO – Short Trade – Thestreetsweeper.org

Here’s a chart of a stock I shorted last week. I don’t short sell as much as buying, but when the opportunity presents itself I will definitely jump at the chance because my trading system allows me to trade any stocks. I shorted TNGO after I received an alert from Thestreetsweeper.org that the company may be involved in fraudulent activities. Just like Citronresearch.com, Thestreetsweeper.org also has a large following of loyal traders that will trade off of their alerts. When they release an article about a stock they usually do it on higher priced stocks which are not penny stocks however the volatility in these stocks surges and at least on the day of the alert the end up trading a lot like a penny stock. Some times I short these stocks and other times I wait for the stock to bottom so that I can use my Buy Zone trading system to buy them for a bounce trade. These alerts can be very profitable if you know how to trade them. I shorted 2000 shares of TNGO at 18.29 when the stock cracked support on the third attempt. I covered 1000 shares at 17.60, and I covered the remaining shares at 17.20 for in total a$ 1780.00. Not bad for a day trade of several hours.

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