SUBJECT: NEXT STOCK CONTEST --- ALL INTERESTED, PLEASE RESPOND
I think everyone agrees that they want a more flexible contest next time with at least minimal trading capability.
Well, here's the deal. I can't work 8-14 hour weekdays for free anymore on this thread, so we have a couple choices if we want to do this contest and do it better.
OPTION 1: Someone else besides me runs the entire contest professionally for free with daily updates to all. Previous contest management experience required and you must be fluent in Excel or have stock contest management software. Please, you must be really committed to doing this right and without a fee.
OPTION 2: A $29 fee for the quarterly contest per entry. You are paying for my time to setup the contest, answer dozens of questions, reprot results, and hire/pay an assistant to manage the contest. In return if you want, I will send you a signed 8 x 10" photo of your choice (value $44 including shipping) from the website as a bonus OR I will give $10 of your $29 to the thread charity instead - the World Wildlife Fund (http://www.wwwf.org). Or you can just donate everything to my hourly wage if you like, which I would appreciate very much.
Photo website: naturescapes-gallery.com
Of course, I will continue to gladly donate the larger photo prizes for the top two or three winners, but I need to get paid a little for my time so I can pay an assistant to help out. To me and you, the contest is a blast but not the main area of focus for this thread.
I have to check with a tax accountant or the IRS to make sure there is no problem with this. I guess giving out monetary prizes gets pretty hairy, otherwise that would be a kick to do.
TENTATIVE RULES OF THE CONTEST
The contest would allow $10,000 mock dollars and the ability to start off buying from 1 to 5 stocks and spending all $10,000 at the close of trading over a 5 day start period. Each person would have to choose ONE day to spend all $10,000. Like before the closing price on the close of the regular session determines your buy and sell entry and exit points.
You see the strategy here? Even if people want to buy the same stocks, they may choose to buy them on different days and would have different buy points. Your choice of "BUY DAY" will be April 8,9,10,11,or 12. The contest will end on the last day of June, 2002.
TRADING
You can then trade from all, some, or none of the stocks in your portfolio ONCE during each month, again all on ONE day. If you choose to sell stock XYZ and ABC and keep the rest until at least the first day of May, then that's fine. Again you have to make a decision whether to sell all, none, or some of your stocks. Then you need to spend your new balance on that same day, too. So you will send me a PM that may say, "I want to sell XYZ and ABC on April 19th and add DEF and GHI." Then you have to wait until a day in May to alter your portfolio again.
You can start off with 1,2,3,4, or 5 stocks and amounts will be divided equally (i.e. if you select 4 stocks, I will give you $2500 toward each or if you choose 2 stocks I will give you $5,000 toward ea.) Equal weighting only please. On your chosen day you can alter the remaining number of stocks up to 5. So if you start with 1 stock on April 11th, you can sell it on April 25th and then choose to divide your balance among 1,2,3,4, or 5 stocks with equal weighting to all.
MINIMUM OF 30 CONTESTANTS, please!
NOTE: In case you think I am getting rich 30 contestants would ammount to $875 or so of which at least $300 would be donated to our thread charity or for sending you a photograph that others pay $29 + $15 shipping for.
PRIZES
First Place - (2) 16 x 20 signed prints or any combination worth $200 retail, free shipping)
Second Place - (2) signed 11 x 14 prints or any combination worth $100 retail, free shipping)
Third Place (if over 40 contestants) - (2) signed 8 x 10 prints (worth $58 retail, free shipping)
COMMENTS OR SEND YOUR "YES" DECISION BY PM.
If you don't want to enter, that's no problem. We can discuss this publicly on the thread or via PM. I may not have time to respond right away but will read everyone's post.
IMPORTANT --- Let's not discuss this on the thread DURING TRADING HOURS!!!!!!
PS-- Do not send any money yet! |
