cnbc's new contest.

Discussion in 'Stocks' started by gaj, Jan 29, 2007.

  1. gaj


    well, for 10k for a winning week, or 1mm for the contest, that's worth a look.

    you're allowed 50 trades/day. cool. you're allowed naz/nyse/amex only. fine.

    then i read the fine print on the rules:

    first, :
    To be eligible for trading in the Contest, stocks must have a market capitalization of at least Five Hundred Million Dollars ($500,000,000)

    i understand about knocking out $1 stock with 1mm float, but that's not sounding good.

    Limit orders, open orders, short selling, margin buying, and the trading of derivatives, options, bonds, mutual funds, exchange traded funds or other securities is not permitted.

    no short selling? no limit orders? huh?

    i'll leave the snarky comments to others. at this point, i stopped reading...
  2. JORGE


    The rules are the same as the CNBC Maserati contest. It does not really simulate trading, but a decent end of day strategy will give you a shot.
  3. It's still worth giving it a shot for a chance to win some money. You don't lose anything but a little time. I did one of these in a university class about 5 years ago. Pretty unrealistic, but if you catch a few good bounces you could be on top.
  4. S2007S


    agree with jorge, nothing great, so many rules like the last one..

    Its luck thats it....
  5. lindq


    Absolutely. Complete waste. You take the time to post a superb trading record, and some kid in Fargo gets lucky with 100,000 shares of XYZ that's just been bought, and walks away a winner.

    Give a thousand monkeys a thousand keyboards.....