Last post on Sep 22, 2008 at 2:21 PM
You are in the Car Stock Exchange
What is this discussion about?
#6 of 15 Re: [mikedrud]
Sep 09, 2008 (10:46 am)
What stocks are retiring this month? exactly?
#7 of 15 Re: [shin107]
Sep 09, 2008 (10:53 am)
These stocks will retire this month:
2008 BMW 1 Series
2009 Subaru Forester
2009 Hyundai Sonata
2009 Acura TSX
A couple of those stocks need their Retire Date updated on their stock pages, but we'll do that later today.
#8 of 15 Re: [soobiedew]
Sep 09, 2008 (10:59 am)
You got the first half of your reasoning correct. Here you go:
You short a stock when it is priced at $45/share
It will say you shorted it and its price was $55/share in your Transaction List, but that just means you got it at $45/share. That is the cover price -- the price at which you break even.
If the stock dips to $35/share, then you make $10/share if you cover (buy back what you shorted) or the stock retires at that price and you still have your short position.
What's important here is the price at which you shorted the stock. There the inverse of what shows up in your Transaction list is important. Once you figure out that price (in this case it shows up as $55/share, so you shorted the stock at $45/share) and you don't need to apply that to the final stock price: $35/share. No inverse is involved. That's simply the price.
To figure out if you are ahead or behind just figure out your short price and compare that to the actual price of the stock.
Hope this makes sense.
#9 of 15 Shorting and Monthly Percent Gain
Sep 09, 2008 (7:44 pm)
When a stock that you are holding as a short retires, is the short covered as of the day of retire and applied to your account on that day, or does the value of the short apply in the following month?
For example, if I am short the BMW 1 Series as of 9/30/2008, does the actual gain apply to my account in September or October (when the actual sales data is available)?
#10 of 15 Re: Shorting and Monthly Percent Gain [larybak]
Sep 12, 2008 (11:02 am)
The value will be added to the previous month, not the new month. It may take a few days to calculate this value for the previous month, but the gains/losses won't go into the new month's tally.
Sep 20, 2008 (8:45 pm)
im new to this but how do you sell your stocks? I have only been able to do it one time and now all I can do is buy or short?
Sep 20, 2008 (11:48 pm)
If you shorted the stock to begin with, the opposite transaction is to buy it. Your profit or loss comes when you purchase the shares you had shorted. The other transaction would be to short more shares of the same stock. That's probably why those are your only choices. If you had purchased the stock initially, the opposite would be to sell. Of course, if any held stocks retire, you will cover (buy) or sell them, depending on your position, at the actual final price.
#13 of 15 Re: [networkguy]
Sep 22, 2008 (9:24 am)
networkguy nailed it.
If you bought the stock originally, then you sell the amount you want to get rid of (cashing out). If you shorted it, you want to buy the same amount to "cover" (cashing out).
Be careful on the shorting part. It's a bit complicated. In your transaction list, take the inverse of the price listed in your transactions (inverse being out of a top price of $100. So, if you shorted a stock and it says $83.00 in your transaction list, you shorted it at $17.00/share. 100 - 83 = 17. You need that stock to go below $17.00/share to make a profit.).
CSX Game Supervisor
#14 of 15 Re: [mikedrud]
Sep 22, 2008 (1:38 pm)
It seems like the gain from retired stocks on August 31 were applied on this month, is this going to happen to September retired stocks as well? For example, networkguy and bg96 have massive gains which could be done only by retired stocks gains in August.
Sep 22, 2008 (2:21 pm)
The money gained will be added to each person's overall net worth, but not to this month's % gained.
We're cleaning up Sept., so I'll make sure it's right. I'll update this board with additional notes soon.
Once again: thanks for staying on top of the action.