Tuesday, July 19, 2005


After missing out on the $20 Clement buy last night (she shot up to $70 before landing with a thud at $15 just now), I bought Luttig at $5 and Gonzales at $4, while the price was heavy on wingnut Edith Jones. (I am talking about possible Supreme Court nominees, which Bush will make tonight.) I can make a cool $200 if the pick is Luttig. Let it be so.

Tradesports. Day trading for info-junkies. Wishful thinking hot tip: Rove resigning by September 30th contract is at about $20.00.* If grand jury indictments are handed down by then, that'll be a smart buy. Another good gamble: 3rd party candidate winning the presidency in 2008. It's selling for about $1, meaning you can make about $1,000 on a $10 investment if McCain somehow makes a 3rd party run and wins.

* Here's how Tradesports works: It's like the stock market, except the contracts offered expire when the event predicted either comes to pass or doesn't. If it comes to pass, the contract will mature at $100.00. If it doesn't, than zero. For example, if Rove has resigned by September 30, you'll make $100.00 per share on a $20.00 per share purchase. If Rove hasn't resigned by then, it goes to zero and you lose your "investment". In the meantime, you can, of course, sell your contract for a profit if the price goes up. If rumors fly that Rove is about to be indicted, that contract will surely shoot up in price. I made a little money on Phil Ivey's WSOP contract when it went from $10 to $30 when I sold it on Day 5, but lost all of my profits when I used that money to buy John Juanda WSOP contract.