BIDU - ipo day trading stories

PuffyGums · Aug 7, 2005

Quote from mike2:

I feel sick. I just joined scalptrades.com on friday and they traded bidu for real while I paper traded like a fool and missed out on the once in a life time opportunity. The following were my paper results trading 500 shares of bidu as they were called:

1st trade= +$1200
2nd trade= +$10,000
3rd trade= +$600
4th trade= -$200
5th trade= +$27,000 as it flew to 150!!
6th trade= -$5060
7th trade= -$2000
8th trade= +$2500

Thumbs up to scalptrades.com!

The custom is to actually post a few times before promoting your site. But you managed to do it on your first post.

MasterRaistlin · Aug 7, 2005

wanted to buy it off the open..but the system went down...I know there are a lot of other pissed swifties out there :mad:

ba3698 · Aug 7, 2005

Quote from MasterRaistlin:

wanted to buy it off the open..but the system went down...I know there are a lot of other pissed swifties out there

Why did the system go down? Was it a routine job or a software upgrade that went wrong? If it was the latter, bad day to upgrade the software considering they could have waited one day and done it over the weekend to ensure there was no down time.

M Vega · Aug 7, 2005

Quote from MasterRaistlin:

wanted to buy it off the open..but the system went down...I know there are a lot of other pissed swifties out there

hehe LOL

zdreg · Aug 7, 2005

Quote from Longhorns:

Obviously you didn't trade it because if you had you would have noticed that little 20 point "dip" from 150 to 130 in about one minute.

I guess nobody on ET was caught in that because everyone here only buys bottoms and sells tops.

or complains their system went down at bidu opening or they not allowed yo buy bidu etc.

zdreg · Aug 7, 2005

Quote from SteveD:

If you do not have the shares it is an illegal short and the BD could/would lose his license. In this enforcement environment I don't think any broker is stupid enough to do this!!!

Has nothing to do with when you cover. You sold something you do not own. If they really wanted to get nasty they could charge you with fraud.

Most traders on this thread don't understand exactly what a short sale actually is.

Just my opinion

SteveD

i thought i was the only one who had that opinion. maybe we should conduct a poll. by the way you allowed yourself a little leeway by using the word exactly and actually.

telozo · Aug 7, 2005

Quote from SteveD:

If you do not have the shares it is an illegal short and the BD could/would lose his license. In this enforcement environment I don't think any broker is stupid enough to do this!!!

Has nothing to do with when you cover. You sold something you do not own. If they really wanted to get nasty they could charge you with fraud.

Most traders on this thread don't understand exactly what a short sale actually is.

Just my opinion

SteveD

I remember reading an article about a guy who bought all the public shares of an OTC stock, filed some papers with SEC to state his ownership, and still, days after, there was activity in the stock. The guy filled a lawsuit for illegal shorting. People were still trading shares that were not there anymore.

Steve Tvardek · Aug 7, 2005

I am assuming you are new to trading based on the fact that you are paper trading, and it blows my mind that you would even think to get involved in BIDU. This is EXACTLY why so many fail at trading.

Quote from mike2:

I feel sick. I just joined scalptrades.com on friday and they traded bidu for real while I paper traded like a fool and missed out on the once in a life time opportunity. The following were my paper results trading 500 shares of bidu as they were called:

1st trade= +$1200
2nd trade= +$10,000
3rd trade= +$600
4th trade= -$200
5th trade= +$27,000 as it flew to 150!!
6th trade= -$5060
7th trade= -$2000
8th trade= +$2500

Thumbs up to scalptrades.com!

MasterRaistlin · Aug 7, 2005

Quote from ba3698:

Why did the system go down? Was it a routine job or a software upgrade that went wrong? If it was the latter, bad day to upgrade the software considering they could have waited one day and done it over the weekend to ensure there was no down time.

I'm not sure what was wrong exactly. The entire Swift-Trade system was down at the start of the day because of some clearing problem. Then it came back up for like 20 min and then people couldn't cancel pending or make new orders and it crashed again 40 min before BIDU started trading.

me = very pissed

and yes...I expected to be flamed for an "after the fact" post..but think about it...I didn't make any money...what do I have to gain?

Longhorns · Aug 7, 2005

Quote from BillJohnson:

I read a BLOG from positionplays.com where a trader there hit a quick 15 points, I decided to jump in and not only did I make 15 points but I rode it from 85.02 all the way up to 136.53. One of the most exciting runs in my life.

Making trades on a crazy IPO with a tiny float based on a blog from some worthless website. Either you are a compulsive liar or you are a moron.

My guess is you are liar, a moron, and have a stake in that shitty trading website you just pumped.