Special FREE Competition Sponsored by eToro!
May 26, 2008
As we told you last week, Yalicoo is going to start expanding your opportunities to additional trading fields in the near future, such as foreign exchange (FOREX). As a grand opening for this, we arranged a special competition to be held this Thursday. We call it the Happy Thursday, and it is sponsored by eToro, the online service for practicing and trading foreign exchange (FOREX) currencies.
As always, the competition is totally FREE for all of you, and the prizes are also substantially higher. In addition, more players will have a chance to win prizes, and not just the three leaders – a total of $1200 will be given out to the top 10 winners!
The competition is FREE so be sure to check out this unique offer. To register or see more details, simply click on the link below.
Click here for the Special
Happy Thursday Competition!
Yalicoo’s highlights of last week
Today we start the last week of the May
monthly competition, and the names shown on the scoreboard are almost the same as last week. SC14 is still in the lead with a substantial gap ahead of
bsmatteo, who climbed to second place. SC14 probably believes that the current gap is large enough to give him the victory, otherwise we cannot explain the fact that he did not perform any trading activities last week (not even a single one!), and his portfolio continues to hold no stocks right now. Comparison of the returns of other leaders to their returns of last Monday, shows that
SC14 made a wise decision indeed. For example, bsmatteo's return in the beginning of last week was 15.68% and it decreased by more than 1% to 14.58% at the end of the week, probably due to the strong decline of the market at the end of the week.
Although the market had a few days of bullish trading last week, it moved back to the bearish trend it exhibited lately, as commodities, and especially oil and gold prices, are sky rocketing (almost certainly because of speculators and index funds massive future contracts buying, and not due to real pressure in the demand for those commodities…) Take a look at the following chart, and see the reason for this bearish behavior.
The chart shows the short interest numbers for the New York Stock Exchange (NYSE) as of May 15th. For those unfamiliar with the financial terminology, selling short means selling a security that the seller does not own, and which was borrowed by the seller (further details can be seen in our educational center
-
Y
Academy). Short sellers assume that they will be able to buy the stock again in the future at a lower price than the price at which they sold short. In simple words, the growing number of shares sold short, indicates that many investors are predicting that the market will decline in the near future.
Despite the market's declining trend, there are many Yalicoo traders who can earn a positive return even if the market crashes. Thus, expect an interesting and tight last week in the
monthly competition.
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