BBY

[firstenrgy]

TweetBBY Best Buy Co. Inc
This is a great short if you havent been a part of the whole collapse of the market. This stock has the books cooked. Only time until this one is in the single digits.

[FUZO]

TweetI like best buy its way better then curcuit city

[daved150]

Tweeti'm not up to speed on "shorting". how do you proffit by buying an over priced stock? i guess i'm asking how to short a stock....

[firstenrgy]

Tweet

i'm not up to speed on "shorting". how do you proffit by buying an over priced stock? i guess i'm asking how to short a stock....

You sell short by selling the stock that you don't own (stay with me) and then purchase it back at a later date. Hopefully it is at a much lower price.
So to short BBY you would sell lets say 100 shares now at $30 and if it drops to $20 you would "cover" buy back or replace the 100 shares and you sold previously and you would make $10 per share or $1,000.

[daved150]

Tweethow do you sell what you dont have (could come in handy if i get someone looking for a aston martin or some shyt, lol). i believe i understand, but do you have to be a broker or have a broker to do that?

[firstenrgy]

TweetIf you are trading on line and most people do now, it is an option "sell short" and you are selling someone elses shares and will replace with a "buy to cover". I know it seems odd but once you do your first trade, it'll come easy.

[daved150]

Tweet

If you are trading on line and most people do now, it is an option "sell short" and you are selling someone elses shares and will replace with a "buy to cover". I know it seems odd but once you do your first trade, it'll come easy.

no shyt!!! like etrade has a "lets fuk this guy" button, then a "lets un-fuk myslef" button??!! thats awsome!!! what kind of money would you think it would be wise to start doing this with?
cant believe that shyts legal

[Fit2bLarge]

Tweeti thought there was a halt on shorting stocks?

[daved150]

Tweetalso...is there a time limit on how long you can "sit" on the deal before you got to cover?

[firstenrgy]

TweetNo there is not.

[daved150]

Tweet

No there is not.

I LOVE THIS PROGRAM!!!! ok...come clean...how do you fuk up? what do you have to be careful about...i mean, i SELL 2500 shares of best buy for 30bucks a share RIGHT NOW...i can sit on that fukin deal for 2months if need be for it to drop and buy to cover at 7bucks a share?

[firstenrgy]

TweetThe way you can get hurt on a short sell is if the stock runs up. Shorting at $30 and if the stock goes to $40, you get nervous and cover, you lost $10 per share.

[daved150]

Tweetso, for the most part, your just betting it's gonna drop. should it drop, like you thaught, you win...something charges the stock up and it takes off, you bail before it gets too stupid and move on... can you just take 500 bucks and jack around with etrade (or do you suggest another place?).

[firstenrgy]

TweetYup. You got it.

[Fit2bLarge]

Tweetthis is what i was talking about

https://sec.gov/news/press/2008/2008-143.htm

SEC Enhances Investor Protections Against Naked Short Selling