Posted on 10/15/2004 11:38:53 AM PDT by drangundsturm
Click on the daily tab on the graph. 10,000 shares sold of bush futures drove the price to zero for a few minutes.
will cost you $54.00 to get $100.00
Assuming it was just manipulation, it makes no sense. The price was only low for literally 5 minutes. It is already back up into the 55 range where it was before. This play cost this person tens of thousands of dollars and only pushed the price down for a few minutes, it makes no sense at all.
Nope, but you could increase your money fifty-fold had you been there at just the right moment!
Soros.
How does this work? Are people actually able to make money doing this? What are people actually buying?
Somebody sure picked up a bunch at really low prices. When a huge block spikes the price down like that, wouldn't having a limit offer in place have gotten you the futures at the low price?
LOL
You could put in a BID for 100 shares at $20 or $25 and hope he does it again. Then, five minutes later when the price is back to $55 you sell out your position at $50+ and bag thousands of bucks for a few minutes "work".
It looks like I could conceivably purchased 5000 shares for a few hundred bucks and then make 500 grand within a few minutes! Is that for real?
If so I am going to spend the rest of the afternoon banging my head into the wall.
Someone trip over a cable & unplug the computer?
In thw winner take all race....you purchase a Bush or Kerry contract. Right now Bush win will cost you $55.00 if he wins youEarn $100.00
Now who in the world could afford to do that?
Something obviously screwed up....no reasion for ir to go down....if it was a glich, they can deny any purchases made at those prices, which i think it was
Is this legal?
Thanks for tracking this. This market should be fantastic indicators but are very susceptible to manipulation since they are thinly traded. The state by state roll up of contracts has W. at 291 EV. I'd wondered why the Bush overall contract wasn't higher considering how he has all the mo right now. He's moving up in the Iowa markets too.
They are buying and selling contracts that pay $10 if bush wins and $0 if bush loses on nov 2 (or whenver the election is officially declared). Contracts are quoted in groups of 10. So if bush futures are $50 and you buy that contract, you'd make $100 if he wins and $0 if he loses. That would mean the market is betting he has a 50-50 chance of winning. The quoted price is equal to the market's view of the probability of him winning.
So, if you could get a contract for $20 or $30 that's a sweet deal. Even if you don't hold it to completion, the chances are you can sell the contract before the election even completes at a profit. Nothing says you have to hold it to completion.
And yes, people are making real money in this market, it's not a game.
yep...that is true
Wasn't this the site mentioned on Rush today?
absolutely legal...possibly some state law could be an issue
It is hosted off shore. Whether it is legal or not for US citizens to participate, I am really not sure.
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