Intrade shares on HCR Mandate dropping

[demwing]

Closed at $7.99 Tuesday - down to $7.19 right now.

http://www.intrade.com/v4/markets/contract/?contractId=745354

They've lost nearly 10% of their value

That's the equivalent of the DOW dropping 1250 points...

[demwing]

1. To clarify -

the issue at hand is "The US Supreme Court to rule individual mandate unconstitutional before midnight ET 31 Dec 2013"

High price means buyers believe it will be so, dropping prices means people are doubting whether the SCOTUS will kill it

[flamingdem]

2. Here's why - Ezra Klein cross post article from Wapo

http://www.democraticunderground.com/?com=forum&id=1016

[demwing]

3. But if investors feel the mandate will be shot down

then the share price will rise

[Bake]

4. Intrade investors are sheep.

It's a big panic. Nobody knows yet what SCOTUS will do.

Bake

[WI_DEM]

5. Oh No!! as if they know the decision.