First of all if you are one of the following please email or PM me or I will delete your user account from this game:
Mulvey, DKG, Bigbman75, Justin Walsh, The Champ is Here
And now for the results of the first day of trading. Since the the top two spots are people who are listed above (Justin Walsh and Bibgman75) and I don’t think are CF.com members I will crown KaptKarl as the leader today. His Transocean (RIG) position paid off bigtime! Plus he still has a lot of cash left!
skinnej came in second with nice moves in Garmin (GRMN) and Double Take (DBTK).
Matt Wilson is third with a nice play on Dryships (DRYS).
The bottom position is held by yours truly, Bonzo72 with a nasty move to try to catch a falling knife in NeuroMetrix (NURO). Capt Fritz and Mulvey also are in the red. Fritz wanted his BB&T (BBT) move to pay off a little better.
8 players either just joined today or made no moves and are all in cash.
EDIT to add: I welcome any player to make any comment about a good or bad play they made that day and why they made it, and maybe what they learned from it. This might be a game, but there could be valuable lessons here too. again, I will try to update this at as often as possible. If nobody replies to one of my updates then I will delete it the next day (simply in order to keep the topics down in this forum).
Actually, let’s go ahead and extend the game out 12 months. Limiting it to 2 months just begs for someone to win on a lottery ticket. It’s still fun to talk about leaderboard over time with the overall winner declared 12 months from now. It’s nearly impossible to make intelligent decisions on a 2 month time frame. Also, I know of at least one player (greg1) who says that he won’t join because the timeline is so short (says he doesn’t keep up with the market enough). If you extend the timeline, it might open it up for a few people that don’t have so much time to think a little more long term.
if we do extend the game then it totally changes the way I started trading today. not that it is a deal breaker, but there is a difference in playing a 2 month window versus a 12 month window. like I said before I will do whatever the majority of people want to do. I think Matt Wilson also wants a longer game. if nobody votes against this then I will extend the game out to 12 months.
hey skinnej, are you (or anyone else for that matter) able to “Edit Game” in the upper left hand corner?
Also, I have the parameters set at a minimum stock price of $2.00. Anybody want it lowered to zero so you can play all penny stocks?
I like the 2 month deal as it forces one to look harder and make fast and better decisions-but my reason for being here is to learn and have some fun along the way. Its rear that i hold anything longer than 2 weeks and i also love dealing in lower dollar stocks from a buck up. My first buys are directed at quick turnover but can easily be adjusted for long term. A whole year at my age is a blessing. Im happy with anyway we go as long as you guys keep talking and i can listen.
I prefer to keep it 2 months for the moment being. I am pretty new to the “game” and see this as “practice”. If we are all still interested at the end of the 2 months, we could start another one (or extend if that would be an option). I dont see why we couldn’t lower minimum stock price, but I dont really care either way.
yea, 12 months sounds pretty good. I was thinkin about it today, and i agree that with a 2 month game, it’s gonna end with somebody winning with a stroke of luck ( like buying 50,000 shares of a $1 stock for 1 hour that goes up 75% and pushes you ahead of somebody with really good long term market strategy…although that would be pretty sweet) I think a longer game will simulate more realistic conditions…i know i don’t have a million bucks to blow in 2 months. But it would be neat to see how i can make it last and rise and fall with the market.
I used to fish a little, but a little wouldn’t do it, so a little got more and more
you hit the nail on the head Matt. with each game you approach it differently. strategies can be completely different. I would never have bought 20,000 shares of a stock that was down 50% today if we were playing a 12 month game. I was playing it for the bounce then exit. this also relates to the minimum stock price I mentioned. right now it is $2.00 but I can take that to zero so ANY stock can be bought. there are penny stocks selling for like $.003 per share. you could buy 333,333,333 shares of that with your million dollars. if that stock goes up to $.005 you have just made $666,666.
People will stay more interested in a 2 month game. If the game lasts a year and you someone starts killing everyone else then people lose interest. It happens in fantasy football every year and thats only 16 weeks. Once someone gets a big lead the others think they cannot possibly catch back up and just stop playing. A year is a long time for something thats supposed to be just for fun
He took the bait like a jugbelly redfish on an olive and white clouser.
Fritz has a very good point. like I said, if someone wants to moderate a longer game then that’s fine by me. there is a little dark corner in all our minds that wants to hit that lottery number, or get dealt blackjack when you put it all on the line, or go long YHOO the day before MSFT makes a bid for them. I will give this one more day for discussion, but I am leaning towards keeping it a 2 month game now.
So, most of you guys are day traders? I thought that the majority of you are investors. A short game just encourages us to go out and buy a couple of lottery tickets and hope you hit the jackpot with one. It’s really not a game based on skill at that point. Hell, even to trade effectively, sometimes it takes weeks to study a stock or detect a market trend.
PS, just because the game is longer doesn’t mean that you can’t declare monthly winners\losers. But, the difference is that people can employ any strategy they like in a longer window. In a long time window traders will be traders and investors will be investors. In a 2 month window, you tilt the game in favor of the trader. If you want it to be penny stock style random, why don’t we just all pick a number between 1 and 20 and whichever number Bonzo has picked wins?
If someone get’s way ahead, the board can vote on a pre-emptive victory. But let’s face it, but some of the portfolios in the game are “swinging for the fences”. Even if you are up 11K in one hour, you could be down 1K at the end of the day (right Bonzo)? Just kidding, but the point is you can always surmount a comeback.
Also consider this scenario:
Hey, I will buy 500,000 shares of a $2.00 stock! Two minutes later it drops to $1.00. Oops! No way I can come back now, I’ll wait until the next game and roll the dice again!!! Is that really playing the game or just betting all your money on black?
I have an idea. Make it a 6 month game (a little longer than 2, but not too long to lose interest in it), and have monthly winners. Each monthly winner that is in first place gets 5 points, 4 points for second, 3 for third and so on. At the end of each month, person with most points wins the major reward! any body with me?
I used to fish a little, but a little wouldn’t do it, so a little got more and more
Actually, let’s go ahead and extend the game out 12 months. Limiting it to 2 months just begs for someone to win on a lottery ticket. It’s still fun to talk about leaderboard over time with the overall winner declared 12 months from now. It’s nearly impossible to make intelligent decisions on a 2 month time frame. Also, I know of at least one player (greg1) who says that he won’t join because the timeline is so short (says he doesn’t keep up with the market enough). If you extend the timeline, it might open it up for a few people that don’t have so much time to think a little more long term.
I agree with skinneej’s first comment. I am done!
I guess a blind squirrel finds a nut every now and again. I have loved and hated oil serv, but this one has done me very well over the last year. I would say with rising oil prices and the fact that they probably will never see 60 again, it will keep a slow upward trend for the foreseable future.
As for the duration, I like it. I dont think that in todays/2-months market we are necessarily having the “lottery tickets” as often, although they are out there. Lets do 2 months, see how it goes and then maybe up to 6 on the next one…I obviously look for a little longer stuff, but that does not mean it will not be extremely fertile at some point.
So, most of you guys are day traders? I thought that the majority of you are investors. A short game just encourages us to go out and buy a couple of lottery tickets and hope you hit the jackpot with one. It’s really not a game based on skill at that point. Hell, even to trade effectively, sometimes it takes weeks to study a stock or detect a market trend.
MY real money is invested, but give me a million bucks to "play" with and I am going to do some trading for sure....
He took the bait like a jugbelly redfish on an olive and white clouser.
Even if you are up 11K in one hour, you could be down 1K at the end of the day (right Bonzo)?
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yea that one stung.
Ok, I so I got screwed with my market orders this morning. Because we can’t control the exact timing of market orders I got hosed on multiple orders. I also deleted 7 accounts because they were not CF.com members.
are you Mulvey? if so then I deleted your account because your name did not match the name you use here. that was the only way I knew to keep outside players out of our game. My apologies but you must have missed the first sentence above saying if that was you to let me know or I would delete you.
It is not hard to do some homework and pick some good short term stocks that are not really “lottery stocks”, I have gotten screwed twice now on limit orders i am assuming their is some sort of delay with the trades. I am buying and selling same stocks that I currently have in my portfolio, wont get confused that way. i like the shorter game so that you dont lose interest.
" oh well, it looks like its just another reef donkey"
