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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (618)	3/8/2006 12:21:28 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 20435

I think that the flaw is in the way the contest is structured for buying. Having run one or two of these things before, I found that the best way to start them is to have entry at the best price on the stock on the first day of entry. It should mimic real life as much as possible. If I put my picks in after the market closed last night (which I did), I certainly shouldn't get yesterday's closing price as my entry. If I were to amend the rules, I would say: 1. Entry price on first day of the contest will be the lowest price of the day. Alternately, you could say "opening price", "closing price" or "price at X:XXam/pm" 2. Trades after the start of the contest will be based on the timestamp of the post announcing the trade. So, with the NYSE/arch trade, you just give him the best price for actual trades today and there is no benefit if there was a gap up, since if there was no way to buy the stock at the time the entry was made, it doesn't mimic real market opportunity. IMVHO

To: Elroy who wrote (618)	3/8/2006 12:40:08 PM
From: Sr K	Respond to of 20435

I didn't own AX and don't own NYX and I don't know why it's up. Why would people wait until today to buy it when they could have bought it yesterday? Because they thought it was too expensive yesterday, and it's cheap today? Maybe there's PR I haven't seen today. But the low was 67.00 so it popped a smaller percentage than the bid-asked spread on one of my stocks (which is down). Look at my prior post. This was not an IPO. It was the first day of trading with a new symbol to reflect a name change, for a stock with a long history of active trading. I guess if it closes below 67 you'll say it's OK. But I had a shot at being at the top of the list out of the box, up 1.5-3% for much of the day so far, so I didn't like seeing that I was "down". That's why I said "quit".

To: Elroy who wrote (618)	3/8/2006 1:21:43 PM
From: Casaubon	Respond to of 20435

I agree that getting the closing price from the night before is less than optimal for entry prices. The opening price of the start date sounds like a better way to manage the contest, JMO. Also, I do not mind if Sr. K gets his desired entry price on his stock pick. He is correct to conclude that anyone could have bought the stock before the symbol change. He had his pick selected with the old symbol and is entitled to the price it last traded at, IMO.

To: Elroy who wrote (618)	3/8/2006 1:22:24 PM
From: Casaubon	Respond to of 20435

I agree that getting the closing price from the night before is less than optimal for entry prices. The opening price on the start date sounds like a better way to manage the contest, JMO. Also, I do not mind if Sr. K gets his desired entry price on his stock pick. He is correct to conclude that anyone could have bought the stock before the symbol change. He had his pick selected with the old symbol and is entitled to the price it last traded at (according to the contest rules), IMO.