@Mushashi, Look who's talking. Wow, it is someone with rank 6, only 1 rank lower than me :D And what is also important, it is someone with id#6478, who registered at almost the same time with me :P
Joking aside (I hope you are not offended by one or two probably unfunny joke sentences), I don't really have problem with spare DKP. My problem is I don't think I am good enough with GLS stocks, so I am a little bit overwhelmed trying to track so many new GLS stocks at the same time, especially ones that were just released, since there are so many games that are released in the holiday season. There are so many smart players here that it is also difficult to make big profit from futures (it is way more difficult compared to when I first join simEx, IMO).
It certainly didn't help that I only have Wii and DS, and don't have PSP, X360 and PS3. It also didn't help that I don't have enough free time to play game, so I have lots of backlog game, and I didn't purchase many new games this year, so I am way behind in my study of new released games (which usually help me detect whether a game will bomb or not before other people detect them).
Basically it was a mistake on my part for the first 3 Million investment. I didn't take into account the fact that the release date is so far away, and I didn't know (by that time) that all popular stock go up and up and up until their release date came close ( was focused on futures before, and didn't have experience in the GLS stocks).
The last 2 Million DKP is a change of strategy by me. Instead of doing what all other high networth player do (short near or during release), I am doing the opposite of it (investing when the release date is still far far away). That way, I can get into significant position without worrying that other high networth player might beat me to it (by driving down the price before I managed to get a significant position). Of course, this strategy didn't give me fast ROI, like it would for future etc, but OTOH, it also give me guaranteed profit (on the long run), even though I might be suffering from big loss in the short run.
I believe that for me to grow faster, I need to do something slightly different than other players, and this is one of the things I am trying out. Beside, I am running out of stocks to short that I have high confidence in. Age of Conan is one of those stocks I don't have enough confidence to short.
Yeah, ideally I should just put short order on the higher price level instead of buying those 1 Million 1518DKP stocks, but I just couldn't resist it :). I guess I am a little bit weak yesterday, and made an inefficient action.
Of course I can enjoy some profit by going small long on it together with other player, but that didn't seem the right thing to do, and I might miss the moment that someone decided enough is enough and started to bail out or get big short position by driving down the price some months before release date. It didn't happen yet, but I could it happening in the future.
Well it certainly wasn't me, i don't know anything about this stock and im staying well clear. It could be someone withdrawing from their short position or just another mid-networth player deciding it was time to go long, 1million DKP isnt that much. Im suprised though that you have taken such a large position so far from launch, i would've thought you preferred quicker return on investment.
I get that this is highly overpriced - but the game has no release date, and the best-case scenario would be late 2009/2010.
Why would you short this stock so much so soon, when you're basically guaranteed growth? Like vGInfidel said, there's very little resistance on this stock since it's so far from release, but because people are excited about it (and because of the constantly growing time trust), it will continue to get bought and grow.
@vGInfidel, Someone put a significant barrier on the 1518 price point (about 1 Million DKP, gone now since I have taken most of them). I am certainly curious to the identity of the person who put that barrier, since I don't see any Top 10 player going long on it on their public profile.
Since this is one of my biggest GLS short so far (5 Million DKP worth), I sure hope I don't make a wrong analysis.
Just_Ben is the one who runs the parser, he hasn't run it since June i believe though.
Probable explanation as to why it is so high is that alot of people like it, people invest in what they like, nobody prepared to go majorly short at this stage so long before release, basically the usual.
I could see them selling 5-6 million copies based off their track record, quality, and the hype around this game. I am guessing that people at simexchange are going to dump this stock as soon they find some realism in their life.
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Look who's talking.
Wow, it is someone with rank 6, only 1 rank lower than me :D
And what is also important, it is someone with id#6478, who registered at almost the same time with me :P
Joking aside (I hope you are not offended by one or two probably unfunny joke sentences), I don't really have problem with spare DKP. My problem is I don't think I am good enough with GLS stocks, so I am a little bit overwhelmed trying to track so many new GLS stocks at the same time, especially ones that were just released, since there are so many games that are released in the holiday season. There are so many smart players here that it is also difficult to make big profit from futures (it is way more difficult compared to when I first join simEx, IMO).
It certainly didn't help that I only have Wii and DS, and don't have PSP, X360 and PS3. It also didn't help that I don't have enough free time to play game, so I have lots of backlog game, and I didn't purchase many new games this year, so I am way behind in my study of new released games (which usually help me detect whether a game will bomb or not before other people detect them).