2013 Stock Contest STARTS Jan. 15th 2013

[Go4Long]

I'm just trying to ride the waves on this herbalife debacle...it's been pretty entertaining

[Rat Fink]

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[benyl]

Haha, I lose $2300 and move into first place!

[davidI]

Haha, it's entertaining watching the swings on you traders.

Unfortunately, with the 10 hour time change I'm dealing with I can only make moves on market open. It looks like I'll be selling all of my stuff in Calgary and taking a new job so a bit easy.

I'm just trying to make good longer term value buys and hope for the best. We'll see how it shakes out! I have had a few of my GTC orders not fill and disappear though...I don't get that!

[ercchry]

Originally posted by davidI
I have had a few of my GTC orders not fill and disappear though...I don't get that!

no volume... i dunno why they disappear though... you'd think they would just stay till there is enough volume

[ercchry]

Originally posted by benyl
Haha, I lose $2300 and move into first place!

in the CAD pool...

[davidI]

Originally posted by ercchry


no volume... i dunno why they disappear though... you'd think they would just stay till there is enough volume

Yea, orders of the same size for that stock had previously filled after a day or two and from what I see the order should have filled yesterday but disappeared instead. Oh well, it's just a simulator after all.

[nzwasp]

Mr_Pacman seems to be killing it with options, unfortunately I dont understand what hes doing.

[Go4Long]

I don't either :-S

[ercchry]

Originally posted by nzwasp
Mr_Pacman seems to be killing it with options, unfortunately I dont understand what hes doing.

think of it as a leveraged trade... it moves a little... your $$$ moves a lot... for better, or worse

[nzwasp]

Would that be the same for people who own options in a company that has given them to them for remuneration?

[davidI]

Originally posted by nzwasp
Would that be the same for people who own options in a company that has given them to them for remuneration?

No. Employee options are usually just the right to convert the options to shares at a certain date. So if you had 200 options on a $4 stock you could convert them to $800 upon their vesting date. They're just a way to entice employees to stick around for the long-term. There are many variations of these though - sometimes companies will only offer the appreciation value of the stock, in which case you only make money if the stock price increases.

With tradeable options, you're essentially paying a small price to have the option to buy or sell the stock at a certain strike price at a later date. It's basically a form of gambling on the stock market (as if buying stocks wasn't already gambling enough).

For example, I may sell you a call option - where you can buy 300 shares of SU at $30 from me in March - if you're willing to give me $300 now.

If the stock is trading at $33 in March, then you now have 300 shares that increased in value by $3 each ($900). Of course, you paid me $300 for that opportunity, but you still tripled your money ($300 is now $900). If you had just bought SU shares with your money, you would have only been able to afford 10 shares. Your $300 of stock would now only be worth $330.

On the flip side, had the SU stock only been worth $29 in March, I'd have your $300 and you'd have nothing.

It's almost like horse betting, just more complex!

[Pacman]

Originally posted by nzwasp
Mr_Pacman seems to be killing it with options, unfortunately I dont understand what hes doing.

If history repeats itself, I'll be at zero within a few months.

[phreezee]

I'm picking stocks like I pick sports bets and doing not to shabby lol.
Gotta learn about shorting still.

[Go4Long]

I just don't have time to really work this like I want to. I keep ending up missing out on the waves that I'm trying to catch and end up getting stuck holding shit.

I'd be doing better just picking something to go long on and hoping for the best.

[davidI]

Originally posted by Go4Long

I'd be doing better just picking something to go long on and hoping for the best.

That's all I'm doing. I have to deal with a 10 hour time difference from Calgary so I only catch an hour or two of the markets when I'm working....and not at all when I'm traveling.

[Afrodeziak]

With RIMM changing to BBRY, I've noticed the holdings are frozen.
What are we supposed to do? I assume the website will automatically convert that $ to BBRY shares at some point?

[nzwasp]

I also want to know whats happening with the RIM stock.

I've sent them an email to ask whats happening with RIM and when we can expect our holdings to be migrated to the new code.

[FraserB]

Looks like we're getting fucked if we have RIM.

BBRY is trading up close to $16 and RIMM is still locked at $13.03, symbol hasn't changed in the portfolio

[Sugarphreak]

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