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In reply to the discussion: I know little-to-nothing about stock trading. Can someone please give me the "Dummie's" version of [View all]progree
(12,883 posts)37. Thanks much. I don't know where I got "a few weeks" from, probably that came from some kind
of unrelated option or another that I read about.
Yes, I remember ENRON. I used to work for an electric utility (Northern States Power, now Xcel), but that was before the wild west craziness in the energy sector that culminated with ENRON's collapse.
The brother of my boss was involved in starting NRG, a spinoff from NSP and a similar company to ENRON in many ways. Prior to the spinoff, the NRG unit dragged NSP's stock price down to a ridiculously low level, so I bought a whole bunch, doubled my money in a couple of days, and sold. (The only individual stock I ever bought other than automatically thru the ESOP. Wish I had held on for a lot longer).
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I know little-to-nothing about stock trading. Can someone please give me the "Dummie's" version of [View all]
Progressive Jones
Jan 2021
OP
When it comes to trading stocks, you can take a short position on the direction of the stock.
Yavin4
Jan 2021
#1
great summary--I'd just add they "borrowed" so many shares they cornered the market on themselves
fishwax
Jan 2021
#6
The point of my post was to explain short selling in terms that a lay person can understand
Yavin4
Jan 2021
#19
Thanks !!! A couple more questions that came to me while reading your explanation.
Progressive Jones
Jan 2021
#9
Thank you! I've been looking for an explanation of "this week" all week, but everywhere..
LAS14
Jan 2021
#26
Is the "bag of sugar" shares of stock, or cash against shares already owned by the borrower? nt
Progressive Jones
Jan 2021
#11
Thanks much. I don't know where I got "a few weeks" from, probably that came from some kind
progree
Jan 2021
#37
Thanks ! Yeah, I got that part. I just wasn't clear if the loan was cash or stock. Got it now. nt
Progressive Jones
Jan 2021
#42