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Car Stock Exchange Shorting and retired stocks
15 messages, Last post on Sep 22, 2008 at 1:21 PM
You are in the Car Stock Exchange Forum.
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Replying to: soobiedew (Sep 09, 2008 9:44 am) 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. Mike |
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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)?
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Replying to: larybak (Sep 09, 2008 6:44 pm) |
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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?
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Replying to: walt18 (Sep 20, 2008 7:45 pm)
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Replying to: networkguy (Sep 20, 2008 10:48 pm) 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
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Replying to: mikedrud (Sep 22, 2008 8:24 am) 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,
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Replying to: chung (Sep 22, 2008 12:38 pm) 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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Car Stock Exchange Shorting and retired stocks
