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Shorting and retired stocks

15 messages,  Last post on Sep 22, 2008 at 1:21 PM

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#11 of 15 by walt18 Sep 20, 2008 (7:45 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? Replies to this message: networkguy (Sep 20, 2008 10:48 pm) mikedrud (Sep 22, 2008 8:24 am) chung (Sep 22, 2008 12:38 pm) and 1 more...
#12 of 15 Re: [walt18] by networkguy Sep 20, 2008 (10:48 pm)
Replying to: walt18 (Sep 20, 2008 7:45 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. Replies to this message: mikedrud (Sep 22, 2008 8:24 am) chung (Sep 22, 2008 12:38 pm) mikedrud (Sep 22, 2008 1:21 pm)
#13 of 15 Re: [networkguy] by mikedrud Sep 22, 2008 (8:24 am)
Replying to: networkguy (Sep 20, 2008 10:48 pm) 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.).   Best,   Mike CSX Game Supervisor Replies to this message: chung (Sep 22, 2008 12:38 pm) mikedrud (Sep 22, 2008 1:21 pm)
#14 of 15 Re: [mikedrud] by chung Sep 22, 2008 (12:38 pm)
Replying to: mikedrud (Sep 22, 2008 8:24 am) Mike,   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.   Thanks, Replies to this message: mikedrud (Sep 22, 2008 1:21 pm)
#15 of 15 Re: [chung] by mikedrud Sep 22, 2008 (1:21 pm)
Replying to: chung (Sep 22, 2008 12:38 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.

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