How My Top Student Made $100,000+ Shorting A Penny Stock

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Watch this step by step lesson on the basics of shorting selling a stock by my top student Tim Grittani.

0:27 I'm going to give a brief little breakdown of fundamentals here on top and the offering as they've done the past couple of months and just implications of it all and why these offerings are so toxic compared to a normal offering. For some of you this might be basic, but for others, I think it'd be good to hear.

1:45 I netted over $110,00 on it. I can't remember the exact number now. I had it on two accounts. But it was my single biggest win ever on one single trade.

2:25 I had started taking off little pieces along the way. I think it took me about five days to cover. But the bulk of it came in the last day or two that I took off. The conviction came from the fundamental side of it, these offerings that they do.

3:23 you just take the time to read offerings when companies put them out to see this. You're looking for shares that can constantly be issued at a discount of current market prices. A lot of the offerings that you see are usually very straightforward for companies.

8:26 We got a nice little short squeeze here for a few days. Then it started right up again with a new company. That's why spikes don't scare me on this.

10:18 One thing I want to touch on also really quick is this day here where it had the little TOPS from 35 cents - it was up towards the 50s over a couple of days it ran. I wasn't shorting that day.

11:45 Always go to the filings, guys, because if you go to the December 11th filing where they did this newest offering, they say how many shares they have outstanding.

14:43 I've seen cases in the past between TOPS and Drys where they release earnings, and they try to make the earnings look good by saying stupid shit about the book value of their vessels.

15:41 If you're trading this on the long side, I get it if you're trying to scalp at times, but you're still at a huge disadvantage because of that third party seller on the offer whose dumping shares into you.

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