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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Harold Engstrom who wrote (5041)	6/1/1998 1:18:00 PM
From: Rocketman	Read Replies (1) \| Respond to of 9719

Harold, can't take the close price on ICOS, I was ready for lumps. I had decided over the weekend not to cover unless V1 or someone else got me an afterhours price for ICOS, and I sent V1 an email to that effect over the weekend. Plus, I think y'all are too enamored with Rathman's reputation, he's great, but I don't think it is that widely known in the populace at large. Plus, who the hell is up watching CNBC that early, ready to drive the price???? No one who isn't a zealot who already is in the know. Since no one got back to me about it, no trade was was executed. When I got up this morning and popped up a quote around an hour after the market opened, Yahoo showed ICOS with zero volume, no price change, which I knew was BS, so I pulled up a realtime quote with my broker, which was the price I posted, and I made my decision to cover and posted it on SI. The only true way to mimic dealing with a brokerage would be to do it with cash for real, ie.) there is no perfect way. Even when you place a market order with your broker, you have a variable time to execution and the price can move on you. Or, in thinly traded stocks, our orders could move the price. Or, in a short we could have our borrowed shares called...... V1 and I agreed early on that the price of execution is when we made a decision to do it either separately or jointly. There have been times when we've made a decision by email, but are delayed in posting to SI for various reasons, too busy, couldn't get on the net, etc..... We still consider our executions carried out, remember.....this is the FANTASY BROKERAGE, we are psychically connected with our brokers, and thus get immediate execution when we have the thought. The posting of it on SI is the equivalent of the order confirmation you get in the mail from your broker. I will also admit to having at times used a delayed quote as the price, but only try and do this when it is a stock which isn't under the influence of some news with an actively moving price that I know of. I can't think of any case where there was much price impact because of this. C'est la vie! This isn't a perfect system, but close enough for what we want to get out of it. And what is it that we want to get out of it??? POWER, FORTURE, WORLD DOMINATION????? Nope, none of those. We'll leave it to the imagination for now........ Later, Rman