Check out the Stock Trading Meets Fantasy Football post on CNN.com’s SciTechBlog about UpDown.com and how the financial crisis has inspired many people to develop their own investing skills on the site!
Brendan
UpDown Team
Hi Everyone,
Sorry about the trading issues that you have had to deal with over the past few days. We understand how frustrating they have been for you, especially for the traders in the Community.
I want to let you know how I can help you if you entered a trade and believe that it did not execute at the correct price. I can manually change the price entries in our system for you to make them right again. Send me an email at brendan@updown.com with a specific list of the symbol, number of shares, incorrect price, and correct price of each trade you feel is wrong. Unfortunately, I cannot enter a trade that you said that you intended to make, but I can make sure that the prices at which your trades executed were correct.
I hope this helps. Please let me know if you have any more questions.
Brendan
UpDown Team
Trading is back up and running for all users and portfolios are accurate.
For some of you we had to roll your portfolio back to its holdings as of Friday afternoon. You may need to go back in and execute some trades you made late in the day Friday.
Thanks for your patience during this issue. We’ll work to make sure this does not happen again.
Well, we managed to fix the trades that were placed on bad quote data, but in the process, many users ended up with excess cash in their accounts.
Until we can fix this issue, we’re going to halt trading for only those users with the cash issues, so that they do not trade with it.
Obviously, having extra cash in a portfolio improves performace numbers, which is why you see members in contests and the site in general with much higher gains than usual.
Please e-mail me directly if you have any questions about his issue: joe@updown.com.
Some of you may have noticed problems on the site starting at about 2:00 p.m. ET on Friday, October 16. We received incorrect quote data, and this was applied to trades, portfolio gain/loss calculations, and contest standings.
We have turned trading back on. Trades will all be executed at correct prices, but we will not be able to reflect this on the site until the problem is fixed.
Also, performance, gain/loss, contest standings, and other portfolio related calculations will be incorrect.
We’re working to fix this problem as quickly as possible.
Here is a list of the stocks bought and sold most by the top 100 investors on UpDown from market close on Friday, October 3rd, through market close on Friday, October 10th.
Most Bought:
1. MS - Morgan Stanley
2. MER - Merrill Lynch & Co. Inc.
3. GLD - SPDR Gold Trust ETF
4. ABK - Ambac Financial Group
5. NCC - National City Corp.
Most Sold:
1. JPM - JP Morgan Chase & Co.
2. C - Citigroup Inc.
3. SDS - Proshares Ultrashort S&P 500
4. GOOG - Google Inc.
5. CSIQ - Canadian Solar Inc.
The markets have opened up with big gains so far on this Monday morning. How long do you think this rally will last this week?
The UpDown Team
We want to let everyone know that we are working on lifting the short-selling ban right now. You will be able to sell-short as you please starting at market open tomorrow. Please let us know if you have any additional questions.
The UpDown Team
Congratulations to 007wall-street, the winner of The UpDown Official Q3 Contest!
Since the contest was open to the entire UpDown Community, 007wall-street truly showed off his investing prowess by becoming the Q3 Champion. He beat the second place finisher by over 400%!
007wall-street has been a top investor on UpDown.com since the we launched the site on CNBC in September of 2007. He has offered many insightful stock tips to other members and put together a tremendously successful investing strategy. We would like to personally thank him for taking on such a great leadership role since the very beginning. Congratulations again from the entire UpDown Team!
Here is a list of the stocks bought and sold most by the top 100 performing investors on UpDown.com from market close on Friday, September 19th through market close on Friday, September 26th.
Most Bought:
1. JPM - JP Morgan Chase & Co.
2. NCC - National City Corp.
3. RIMM - Research in Motion Ltd.
4. WMT - Wall-Mart Stores, Inc.
5. WM - Washington Mutual Inc.
Most Sold:
1. SCA - Syncora Holdings Ltd.
2. MER - Merryl Lynch & Co., Inc.
3. SPY - SPDR Trust, Series 1 ETF
4. ETFC - E-Trade Financial Corp.
5. GOLD - Randgold Resources Ltd.
Invest well this week!
The UpDown Team
With the election season upon us, we thought it would be fun to form Updown.com online investment groups for Democrats and Republicans to see who the better investors are. The intention of the groups is to invest a portfolio according to the principles and policies of each party, and see which ends up with higher return.
So far the Republicans are up slightly. The race is as tight as Obama vs. McCain.
If you’re interested in joining, follow these links for the groups:
Demoratic Party Investing Group
Republican Party Investing Group
Joe Ranft, VP Product & Design, My UpDown Profile
