e have put together a list of the stocks bought and sold most by the top 100 members of the UpDown.com Community from Friday, June 20th, through market close on this past Friday, June 27th.

We formed the lists of the most bought and sold stocks by aggregating the portfolios of our top 100 performing users and comparing their holdings on 6/27 against their holdings on 6/20. The result of the comparison is a stock holding ratio, which we use to rank the top stocks bought and sold by our top 100 members. The holding ratio is calculated as follows: (current holdings - last week holdings) / last week holdings

The UpDown Team

e hate that “null” message too. Last night we were doing maintenance on the system that handles real time quotes. We were working to fix the bottleneck that occurs right before markets close that has caused delays that cause trades to be pending and then get cut off at 4:00.

Unfortunately the system did not exactly come back smoothly this morning, so it just puts up that “null” message. Finally, the system is catching up so if you enter a trade right now you will get the proper price.

Again, sorry about this. Let us know if you have any questions.

The UpDown Team

contact@updown.com

e are happy to report that UpDown.com was chosen today by Financial Modeling Guide as one of the 10 Most Innovative Online Financial Analysis Tools for Investors.

Financial Modeling Guide is a professional education site that reaches over 2,700 members of 25 to 40+ year old professionals looking to develop skills and knowledge in financial modeling and analysis for their personal investment needs, jobs, or business plans.

We are determined to provide each investor with the experience he or she needs to enter the real marketplace with confidence and maximize his or her profitability. We have built UpDown to support this goal, and it is always exciting to hear that someone thinks it is working!

The UpDown Team

e need your help! We are looking for people to evaluate the usability of UpDown.com.

As a participant, you will have the opportunity to influence the direction, appearance, and functionality of the website. You will also be able to check out our office in Cambridge, MA and to meet the UpDown Team!

We need to identify potential candidates for our usability study that represent the diversity of the UpDown community. We are looking for people who:

*  Are familiar with the web (not necessarily experts)
* Have a desire to become a better investor (even if you are a beginner and don’t have a brokerage account yet)
*  Are willing and able to come to Cambridge, MA

If you would like to participate, please complete this 2-minute questionnaire.

If you are selected, we will email you regarding the details of your appointment. We will conduct the study over July 24th and 25th.

Each evaluation generally takes no more than 90 minutes. Participants will receive $100 for their time.

We hope that you will take on a leading role in shaping and improving UpDown.com. We are excited to meet you at our office!

The UpDown Team

e have upgraded our contest feature again. Now you can run your own investing contests against your family, coworkers, and friends at any time on UpDown.com.

Many of you are familiar with fantasy sports and especially fantasy football, the most popular fantasy sport on the web. You have set up a league and competed against your friends and found out who among you was the best football general manager. Now on UpDown, you can conduct your own investing contests with anyone you choose to see who is the best investor. CNBC now has even more reason to call us where “fantasy football meets the trading floor!“

Before this upgrade, you could participate in organized contests on UpDown only if you were a college student, like the thousands competing in the Summer 2008 $10,000 Student Investment Contest. While we will still hold these community-wide contests, we are happy to now provide all UpDown members with the opportunity to compete with whoever they want!

The UpDown Team

e have implemented a new trading rule to make your UpDown.com trading experience even more lifelike.

Our new Clearing Rule restricts actions on portfolio positions until the volume of your trade clears in the real marketplace. For example, if you buy 100,000 shares of a stock, you now have to wait for 100,000 shares of that stock to trade in the real marketplace before you can sell those shares. This will prevent UpDown members from making trades at unrealistic volumes and profiting from small changes in price.

The rule will affect you only if you trade low volume stocks in very high volumes over short periods of time. Most UpDown members will never come across it.

Again, the Clearing Rule is in place to better simulate real-world conditions so you can get the most out of your trading experience on UpDown.

Please let us know if you have any questions or comments about this new rule!

The UpDown Team

e have eliminated pending trades from UpDown! All of the trades in your UpDown portfolio will now execute immediately. You will never again have to wait to act on a position because it is “pending.”

This enhancement to the UpDown platform makes your trading experience much more lifelike. We must still hide the execution price of your trades for 15-20 minutes due to stock exchange regulations, but your cash balance will immediately reflect the real-time price of your trade.

Eliminating pending trades has been the UpDown Community’s most requested enhancement. We are very happy to deliver it to you!

Go to your UpDown portfolio and start trading now!

The UpDown Team

e launched UpDown.com in the fall of 2007 live on CNBC with the goal of helping you improve your investing skills with no risk of financial loss. Since then, we have created a platform where you can manage a virtual portfolio, compete and collaborate with thousands of talented investors, and earn real money.

We have come a long way since our start less than one year ago, but we still have much farther to go to maximize the full potential of UpDown for you. We are working hard every day to make your investing experience on UpDown more comprehensive, more transparent, and even more profitable for you.

Today, we are launching the UpDown Blog to improve communications between you and us, The UpDown Team. We believe that the blog is the most effective way for us to respond to your requests for how to make UpDown better. Also, you will be able to discover and comment on UpDown news and on the latest features of the site.

Please leave your feedback here and join us for interactive discussions in the UpDown.com Group. We are very excited to hear from you!

The UpDown Team