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please explain this... I have a stock that I think is going to drop even further in the next month or two. Its already at lowest since 2005...
I want to know how this work and is it worth it.
buztah
SBR Hall of Famer
03-23-07
7470
#2
Originally posted by purecarnagge
please explain this... I have a stock that I think is going to drop even further in the next month or two. Its already at lowest since 2005...
I want to know how this work and is it worth it.
You are selling shares you down't own. Potential loss is unlimited. if you've never done it, be careful. Read up on it. if you go ahead, make sure you have a tight stop or you could get phucked. What's the stock? I went long two gold stocks this week: GG at 30.10 and AUY at 9.90. US in trouble. Gold going up.
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SlickFazzer
SBR Posting Legend
05-22-08
20209
#3
Be sure you know what your doing when shorting.
B, Yamana under 10 is nice....been looking at it for a couple of weeks now.
Time to start a position....
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buztah
SBR Hall of Famer
03-23-07
7470
#4
Thanks, S. Like it for a run into the fall with the gold up cycle. With all the trouble the USD is facing, I like Gold plays here after the sell off/correction. GL!
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RealSlimShady
SBR Hall of Famer
12-24-07
6249
#5
You can buy an in the money put instead to limit your losses.
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capitalist pig
SBR Hall of Famer
01-25-07
5001
#6
Whats the stock? Might have an opinion.
later
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AgainstAllOdds
SBR Hall of Famer
02-24-08
6053
#7
Its the opposite of buying stock...you hope it goes down...like the buzzy said...be careful...if you sell short 1 stock, and it goes from $30 to $1,000,000....guess how much you owe
Now multiply that times 30 shares and say goodbye to your life.
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Justin7
SBR Hall of Famer
07-31-06
8577
#8
A safer way is to use a "put spread".
Pretend a stock is trading at 42. You think it will go under 35.
You buy a put at 40, and sell a put at 35. It often works out to a +300 moneyline bet, where you cash if the stock drops below 35.
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purecarnagge
SBR MVP
10-05-07
4843
#9
well...I bought 100 shares of funcome stock for roughly 22 a share earlier this year...as the hype for a single video game came out and the realization that they were going to sell about a million copies, the stock continued to soar, at this point in time the stock moved up, and almost hit 50.00 a share. I sold at 42 something. Wasn't a bad move, just a very short term gamble on the stock market. I'm not that much in the know on stock market...
I do know that funcom won't be doing very well as AoC is a flop and is taking up alot of resources and people have all but deserted the game. Leaving this company basically left holding the bag on a unfinished product being forced to fix it or risk faltering...
I'm considering putting a short on AIG stock. Many financial sector stocks are bad...Also to those who talk about gold. Gold is not going up it went down much lately. AIG is writing off tons of losses at the moment.
