Look who's no longer first. Granted, I took a bit of a loss today as well.
I know I'm not very good at this whole stock market thing, but might I advise a little less chest-beating, and a little more playing, lest one or more of the other players makes you eat crow in the remaining 328 days?
Well, it looks like my PCS bet was correct. The stock shot way up on their good earnings report, as expected. The problem was that since everyone made so much bank, they all started to sell immediately. This game being so slow, I could not also do the same thing. I'm still making money, but not as much as I had hoped.
I'm regretting not picking Cablevision instead, which I did consider. They are going up and not coming down, yet.
Not that it matters. Every single player in the game who invested in anything is in the red this morning, except me.
Adobe is still way above the price I bought the stock at. It's just hard to tell when to sell it. Incidentally, PCS seems to have gone back up again.
Yeah, I put in a limit sell at 6.6 so I can get out. If someone starts to catch up to me again, I will reuse the same strategy with a different company.
This image says it all. Today is a Return to Scott's Pointless bragging about his false victories..
Don't worry, Scott, you'll convince us one day.*
I'm in for the long haul with most of my stocks. We'll see how that turns out.
Second that - I can't play day to day. I'm still doing better than I thought at the moment - I expected maybe a few days of luck, and then to trail dead last for the rest of the game. 23rd is an achievement for me, I'm happy with that. I would like to do better, but eh, if I don't, shit happens, it's all good.
* : The day the game is over, and IF you're still on top. At least your current strategy for winning is a better idea than your "Penny Stocks" and "After-hours Trading" ideas.
* : The day the game is over, and IF you're still on top. At least your current strategy for winning is a better idea than your "Penny Stocks" and "After-hours Trading" ideas.
The after-hours trading idea is basically what I'm doing. It's just that I'm doing it less efficiently than I would like. Basically I have to buy stocks a day or few in advance of when I know they are going to spike. Then I have to put in a sell order in the morning of the spike, and hope the price stays high long enough for the order to go through because I can't get my sell in immediately as the market opens. I was actually saved today because the PCS price went down, and then back up again, and then I sold.
The after-hours trading idea is basically what I'm doing. It's just that I'm doing it less efficiently than I would like. Basically I have to buy stocks a day or few in advance of when I know they are going to spike. Then I have to put in a sell order in the morning of the spike, and hope the price stays high long enough for the order to go through because I can't get my sell in immediately as the market opens. I was actually saved today because the PCS price went down, and then back up again, and then I sold.
Might I suggest putting a limit order on the stock at a price that's above what you think it will reach, just in case? Sure, you might never sell something that way, but if it jumps that high, then you're not kicking yourself if you try to sell the next day and you missed it, and it's fallen again.
Though, I dispute that it's after hours trading. You're making predictions, admittedly good ones so far, but you are still trading the same time as the rest of us. You're basically playing the intelligent version of my game so far - Roll the dice, hope it comes up on your number, but you're playing with loaded dice, so that you have a greater chance of it coming up on your number. You don't really KNOW when they're going to spike, you just have good information to make a prediction from. If you really think you truly know when they're going to spike, I have a nice man with two things 1)An Awesome Beard and 2)A million dollars for you - however I feel at this point I'm being picky about language, when you probably mean "Know" in the same way that, for example, you know you have to go to work on Monday - It's possible you won't, but it's the most likely outcome.
Might I suggest putting a limit order on the stock at a price that's above what you think it will reach, just in case?
This is exactly the reason I am not a stock person as my job. I can do a great job of evaluating whether a company has been doing well or not. Therefore when their earnings report comes out, I can do much better than guess up or down. Thus, I can buy or sell short before the report comes out, and sell after the report comes out to make money.
The problem is I don't understand almost any of the crazy numbers in the market. Even when I know what a number means, I have no means with which to base decisions on those numbers. Even though I know a stock is going to spike up, I have absolutely no ability to guess by how much. I have to wait and see the graph move first.
This is exactly the reason I am not a stock person as my job. I can do a great job of evaluating whether a company has been doing well or not. Therefore when their earnings report comes out, I can do much better than guess up or down. Thus, I can buy or sell short before the report comes out, and sell after the report comes out to make money.
My reason is that I have nothing that could be a useful skill in the stock market. But I do essentially the same thing - I attempt to predict what's going to happen, though on a longer timescale, because effectively, I have to make ALL of my decisions while the market is closed, and hope they bear out during the day where most of the time, I can't actively monitor the game.
The problem is I don't understand almost any of the crazy numbers in the market. Even when I know what a number means, I have no means with which to base decisions on those numbers. Even though I know a stock is going to spike up, I have absolutely no ability to guess by how much. I have to wait and see the graph move first.
My solution was just to set the prices for things crazy high(Relatively, anyway), and check on anything to do with the company on a regular basis so I know if setting them slightly higher or lower is a good idea - For example, At least one of my limit orders is two dollars above what I bought it at, and it's not been that high even when it was doing really, really well.
After that spike down, Adobe went back up again. I figure I'll be selling off - I've made a whopping $17,000 off Adobe's stock, and I'm not complaining about that.
I over slept the day after Vince Zampella and Jason West we're ousted from Infinity Ward and missed my chance to snap up ATVI for a descent gain. I also agree with the rest of the forum Scott, let us see who will be on top of the board after 314 more days.
I just checked, and I've soared way up the rankings. I think this is the first time I've been in the green overall. Maybe I should sell my Citibank shares.
Wow, almost wish I invested in Apple.... if Timo is smart he'll sell now and exit on top... Not sure how long Apple will go up like that before correcting.
I am regretting not having jumped on Netflix much in the way Scott did in the early game earlier this week, but Scott is regretting his amazon pick now. As he sinks to 4th and I rise to 8th! Wooooo. (I'm only 20,000 behind him :-p) Plus we are all making mad money expect for 4 people (and the people who haven't ever made a trade).
Comments
Granted, I took a bit of a loss today as well.
I'm regretting not picking Cablevision instead, which I did consider. They are going up and not coming down, yet.
Not that it matters. Every single player in the game who invested in anything is in the red this morning, except me.
* : The day the game is over, and IF you're still on top. At least your current strategy for winning is a better idea than your "Penny Stocks" and "After-hours Trading" ideas.
Sure, you might never sell something that way, but if it jumps that high, then you're not kicking yourself if you try to sell the next day and you missed it, and it's fallen again.
Though, I dispute that it's after hours trading. You're making predictions, admittedly good ones so far, but you are still trading the same time as the rest of us. You're basically playing the intelligent version of my game so far - Roll the dice, hope it comes up on your number, but you're playing with loaded dice, so that you have a greater chance of it coming up on your number. You don't really KNOW when they're going to spike, you just have good information to make a prediction from.
If you really think you truly know when they're going to spike, I have a nice man with two things 1)An Awesome Beard and 2)A million dollars for you - however I feel at this point I'm being picky about language, when you probably mean "Know" in the same way that, for example, you know you have to go to work on Monday - It's possible you won't, but it's the most likely outcome.
The problem is I don't understand almost any of the crazy numbers in the market. Even when I know what a number means, I have no means with which to base decisions on those numbers. Even though I know a stock is going to spike up, I have absolutely no ability to guess by how much. I have to wait and see the graph move first.