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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: brian krause who wrote (483)2/17/2001 3:51:06 PM
From: Al Collard  Read Replies (2) of 11802
 
Hi brian,

For the fairness of all the entrants we are using the closing asking price. The reason we don't use the aftermarket trading prices is that it would always be the closing price. Some stocks have higher priced bids than the actual closing price and entrants were jumping on the spreads thus setting themselves up for big gains at the open. On a .10c stock some of these percentage gains were huge making it unfair to others in the contest.

If an entrant doesn't like the ask price then by all means choose another stock. It makes for a fairer system for us all in my opinion.

The bottom line is we go with a system and stick to it. That way we all know what we are up against. If more than 1/2 of the regular entrants want any part of the system we are currently using changed all they have to do is ask. I'm always open to change.

regards,
Al
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