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  1. #51
    SitePoint Evangelist netkid's Avatar
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    I joined. I know nothing about stocks though. haha

    Santosh Sankar
    Bullish Bankers

  2. #52
    SitePoint Addict iMatt's Avatar
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    I'm in 7th. Not bad.

  3. #53
    011521 dbalsdon's Avatar
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    i'm 3rd
    Daniel Balsdon
    My Site

  4. #54
    SitePoint Guru Marubozo's Avatar
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    Ok, I was bored today and couldn't resist the urge to join the competition
    Generation X Finance
    Helping a Unique Generation Achieve Financial Independence

    Financial Planning writer at About.com

  5. #55
    SitePoint Guru ckita's Avatar
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    4th..not bad...

  6. #56
    SitePoint Wizard Young Twig's Avatar
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    Wow. I'm still second. That's kind of lame.

  7. #57
    chicks can draw! Cookiebox's Avatar
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    lol i joined! though it might take me awhile to figure out what's going on. my gr.12 economy teacher was never too good
    [cookiebox is selling template logos @ template section! ]
    www.cookiebox.co.nr < new.

  8. #58
    SitePoint Wizard silver trophy someonewhois's Avatar
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    Hmmm... Well, I have an oil stock. 6,000 shares in total (at different buy prices -- I bought 3,000 Friday morning, then it went down so I picked up another 3,000, heh). Earlier today I had $3700+$5700 through it. Yeah, close to $10,000. I managed to hold out and not sell it, since I'm sure it'll keep going up before the end of August. I'm down 30 cents since that point (roughly $1000 on each stock).

    What a crazy game.

    Good news: I'm up to $514,000.

  9. #59
    SitePoint Wizard Young Twig's Avatar
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    I'm at $503... I was at $514 last week. I bought a bunch of stocks today that are way down. Hopefully they'll start going up.

  10. #60
    is not my name biggdesign's Avatar
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    game already ended right?
    stay hungry, stay foolish.

  11. #61
    chicks can draw! Cookiebox's Avatar
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    It's been extended to 8/31, I believe?


    lol doesn't matter I'm just starting to find this fun, it's like monopoly
    [cookiebox is selling template logos @ template section! ]
    www.cookiebox.co.nr < new.

  12. #62
    Visit docquesting.com docquesting's Avatar
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    You didnt know there are such things as making money on stocks going down as well did you. Marubozo should know something about this.

  13. #63
    chicks can draw! Cookiebox's Avatar
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    Quote Originally Posted by docquesting
    You didnt know there are such things as making money on stocks going down as well did you. Marubozo should know something about this.
    By...not buying them?
    [cookiebox is selling template logos @ template section! ]
    www.cookiebox.co.nr < new.

  14. #64
    Visit docquesting.com docquesting's Avatar
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    Nope there is such a thing called puts and calls. your game may not offer this option however. Here is a link to help you out. Basically in real stocks you can make money hoping a companies stock will drop.
    http://www.option-trading-guide.com/callsandputs.html

  15. #65
    SitePoint Guru Marubozo's Avatar
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    Options are a great way to profit from a stock going down, although not a part of this particular game. So in this game, you can make money on a stock by "selling short". The idea here is, if you expect a stock to go down, and it is trading at $50/share right now, you sell someone 100 shares of this stock. You don't own these shares, but you borrow them from a broker. So, if you sold 100 shares that you don't even own, that means you gain $5,000 in your account.

    Now, when you sell a stock short, you will have to buy it back at some point (to return the shares you borrowed). So to profit from this transaction, you need to buy the shares back at a lower price than you purchased them. So if the stock drops down to $42/share and you buy the 100 shares back, that means you have to pay $4,200 to get the shares back.

    Now remember, you gained 5,000 when you sold them, yet it only cost you 4,200 of that money to return them. That means you made $800 because the stock went down

    It is a relatively simple concept, but there are some additional risks that come with this type of sale. Compared to a regular "long" purchase of stock, you open yourself up to unlimited risk. THis is because if you buy 100 shares of a stock at $50 and the company goes bankrupt, the stock might become worthless. That means, the maximum loss is 100% of your purchase price, or $5k. On the other hand, there is in theory, no limit as to how high a stock can go. So, if you sell short 100 shares of a $50 stock, and the stock makes a run like google, and is $300/share, you now have lost upwards of over $20,000

    So since there is no cap on how high it can go, in theory you can lose even more than you invested, which is what typically makes that type of trade more risky. But in a short and play tournament like this, you might as well go short some stocks that look to go down, it is a great time to learn how it all works.
    Generation X Finance
    Helping a Unique Generation Achieve Financial Independence

    Financial Planning writer at About.com

  16. #66
    SitePoint Wizard silver trophy someonewhois's Avatar
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    Yeah, I shorted Nvidia or someone. Didn't work out too well.

    I'm just having fun here. A few oil stocks to make me money, and then I'll daytrade the rest. It's working well (made $2500 yesterday on Google).

  17. #67
    SitePoint Wizard Young Twig's Avatar
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    Yay! I'm in the red!

    Edit:

    Green again: 500,005.58

  18. #68
    SitePoint Wizard silver trophy someonewhois's Avatar
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    $520,000.

    I keep chickening out way too early. I sold my 1000 Google shares for a $2.5/share profit yesterday, had I held on I'd be up to $6. I had 3000 shares of an oil stock that I sold for 50c/share, and I'd be up $4/share by now (which is $12,000). Ah well, I think I played this last oil stock right, $14,000.

    Edit: hahaha, I would've made an additional $10,000 on Google had I stayed on. It's up $10 from when I sold. Ooh, boy, that's over $20,000 I've lost out on.
    Last edited by someonewhois; Aug 2, 2005 at 14:32.

  19. #69
    SitePoint Guru Marubozo's Avatar
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    I'm having a rough go of it the first two days, went short on a bunch of stocks that are clearly overbought, but the strong overall market the last few days is killing me
    Generation X Finance
    Helping a Unique Generation Achieve Financial Independence

    Financial Planning writer at About.com

  20. #70
    SitePoint Wizard Young Twig's Avatar
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    WWW is finally paying off.

  21. #71
    SitePoint Addict iMatt's Avatar
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    Quote Originally Posted by Young Twig
    WWW is finally paying off.
    Thank God this isn't real money for your sake.

  22. #72
    chicks can draw! Cookiebox's Avatar
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    lol my stocks are acting funny....it's going up and down even though it says 'US MARKET IS CLOSED'

    oh and how does the updates work on this thing?
    buying is not immediate, but is selling immediate?
    and when does it update my total equity? it keeps showing me unupdated total.
    [cookiebox is selling template logos @ template section! ]
    www.cookiebox.co.nr < new.

  23. #73
    Huh? What now? tntcheats's Avatar
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    Well, though the floor is closed, I've tried spending $200,000.00 in my first 30 seconds of playing.

    Maybe going about it wrong, but then again, maybe you'll all be in my dust some time soon here.

  24. #74
    SitePoint Wizard silver trophy someonewhois's Avatar
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    Buying and selling seems to be delayed 20 minutes of the time it fills your order (when the limit is met), as far as I can tell.

    Your total equity should constantly change. Mine does, anyway. It updates the rankings once a day sometime after hours.

    James -- markets are closed. Any orders you place will be filled at market open (if that's what you chose, or when the price gets there).

  25. #75
    chicks can draw! Cookiebox's Avatar
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    "4 cookieboxdesign $508,760.80"


    yeah!


    it went down today though...all my stocks
    [cookiebox is selling template logos @ template section! ]
    www.cookiebox.co.nr < new.


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