4th Aces High Stock market game

[G0ALY]

How do I bet that a stock will go down? I’m considering using myself as a reverse barometer.

[PFactorDave]

How do I bet that a stock will go down? I’m considering using myself as a reverse barometer.

It's called shorting a stock.  It's done with an option.  Essentially, you sell an option saying that a certain stock will be at a certain price or less on a certain date in the future.  If it is at or below that price on that date, then nothing happens, but you get to keep the money that you got when you sold the option.

However, if the stock is above your price on the date that it comes due...  The guy who bought the option from you in the beginning is going to exercise it.  Meaning, he has the right to buy the stock from you at the lower price that you sold the option.  Of course, if you don't actually own the stock you will have to buy the stock from somebody else at whatever the current market is so you can sell it for less to the guy who bought your option.  Which is where the risk is for you.

It's all very arcane stuff.

[Reschke]

Looking like a good game but would like to have more players in it than what we have so far. Thinking I am going to stay away from the technology sector if at all possible.

[Reschke]

Just 2 days till we start the game. Have spots left open and it at least gets the blood boiling when something happens in the stock market and it isn't your money.

[rpm]

Looking good, Billy Ray!

[ariansworld]

Wont let me join.

[Reschke]

Wont let me join.

Try it now

[ariansworld]

Thanks, worked.

[Reschke]

I will try to do a little update at the end of each day just in case anyone wants to pull for a specific trader in the game. Here are the leaders in the clubhouse at the end of the first day. I got lucky today...just wish I could toss around this kind of money in the real world and end the day with that kind of return on investment.


Rank   Name                     Net Worth              Today's Returns   Total Returns   # of Trades
1    reschke               $1,022,079.00         2.21%                     $22,079.00    7
2    HotDogMn            $1,017,785.09         1.78%                     $17,785.09    8
3    MrMoneyPotato     $997,407.00        -0.26%                    -$2,593.00            4
4    Trooper2              $994,195.75    -0.58%                    -$5,804.25           23
5    Sandberg             $976,080.25    -2.39%                   -$23,919.75   5

[rpm]

I picked a dog of a stock to start with, QQQ. I was sure the market was going to tank today, so I sold short at $60.98. The dang stock actually started rising for a minute. Combined with watching you pull away made me nervous so I covered as soon as it went negative again at $60.91. I should have stayed with my original plan and rode it out. It closed at $60.43.

I could never be a daytrader. The nerves would kill me.

[ariansworld]

Apple is like playing with a hot potato today.

[Krupinski]

Sorry, I'll get in this.. 

[kilo2]

What a terrible day for me looked promising at the open as well.

[ariansworld]

Looks like my gamble with Apple is paying off.

[Ten60]

It won't let me buy several different things.  Stocks are over $2.00 and the purchase it under my total amount of holdings. Kinda aggrivated.  On a side note.  I short sold apple right before it bottomed...  Then shot up again lol. There goes 1% lol