Pick Of The Week Contest

[Rob]

I like the way it's shaping up, Peanuts! And I like the idea of keeping up with the portfolios in dollar amounts.

When I took over the scorekeeping, I chose to change the rules as little as absolutely necessary, because I honestly didn't expect to do it as long a I did. I said many times that I was just the temporary scorekeeper, and that was the truth. I just didn't realize how long "temporary" was going to last.

I always thought the 5% penalty was a bit steep.

Thanks again for picking it up.

And, Riverbabe, hon, what do you mean "when Rob was the scorekeeper"? I'm not even dead yet, and you're already throwing dirt in my face!

[peanuts]

...For scoring, may I suggest taking the opening price for the minute following a competitor's post?...

Then posts at 3:59 pm would exclude picks from players trying to get the last minute's action. I think this rule will remain the same, unless more people speak up.

Thanks for the kind wishes

[spikefader]

Hi Peanuts,

Looking forward to your version of the stock-picking competition here at MM.

Thanks for stepping up to the plate!

For scoring, may I suggest taking the opening price for the minute following a competitor's post?

Good luck running the show; may it be smooth sailing for ya.

[jiesen]

3%

the 3% rule seems to be a bit more logical to me, though the difference is pretty small in the end (who really cares what happens to those starting out at week 42, since they are already down so far?). whatever is easier for the scorekeeper should also be a factor, though.

Peanuts, I really like the setup for your POTW, especially that you're seeking input on the rules prior to the beginning of the contest. This will increase the 'buy-in' factor for the participants, and help make it a more robust and enjoyable game overall! You are HUGE!!!

btw- go GFCI! up almost a PENNY today! wooooooooooooooooo!!!!!!!!

[New-born baby]

I like it!

Peanuts:
I like it! Very nice!! Adding the yearly total dimension should add to the fun with POTW.

[peanuts]

valid points

I hate to always nit pick, but rule #11 seems odd to me. As far as the yearly portfolio goes, wouldn't missing early weeks of the year be more harmful than missing the last few weeks of the year percentage wise (assuming that the port would be growing through the year, if you're a consistant loser then it is the other way around). Would it be more fair to chop off, say 3% of the player's port for each week missed?...

It is to each player's advantage to begin the contest at the beginning of the year, and to play less risky stocks. It is an aspect of the contest which each player must take into careful consideration. The yearly contest shows each player's long term consistency. The weekly contest within the yearly, is where the fun and wild action exists.

...Also, I know I've had this argument before almost a year ago when I missed the first few weeks of the POTW, but I was hoping that next time the rules were open for change that we could change it so that players coming into the contest mid-year would not be penalized for all the weeks they have missed. They could be started at 1000, the average port size, $1 less than the smallest port, etc.

On the other hand, if we let people join late without penalty, what would stop someone from joining the contest on the last week (to be extreme) and smacking a 60% winner and winning the contest? Just something to think about.

A penalty for not playing the whole year is a must. For each week that you play, you are taking a risk. Your reward is the percentage change. If you risk nothing, then how can you be compared to the other players? There must be a reducing method to the initial portfolio size. The penalty is justified because no risk has been taken up to that point, and it also prohibits scoundrels, like Doug, from coming in the contest in the last few weeks and winning it all with a couple of crazy plays.

Here is a comparison chart of your 3% loss method and the current straight line method. I'd like to hear reasons why one method is more fair than the other. If I get no responses, then the current method will remain:

[IIC]

On the other hand, if we let people join late without penalty, what would stop someone from joining the contest on the last week (to be extreme) and smacking a 60% winner and winning the contest?

Yeah...that sounds like something I would try to do

[scifos]

I hate to always nit pick, but rule #11 seems odd to me. As far as the yearly portfolio goes, wouldn't missing early weeks of the year be more harmful than missing the last few weeks of the year percentage wise (assuming that the port would be growing through the year, if you're a consistant loser then it is the other way around). Would it be more fair to chop off, say 3% of the player's port for each week missed?

Also, I know I've had this argument before almost a year ago when I missed the first few weeks of the POTW, but I was hoping that next time the rules were open for change that we could change it so that players coming into the contest mid-year would not be penalized for all the weeks they have missed. They could be started at 1000, the average port size, $1 less than the smallest port, etc.

On the other hand, if we let people join late without penalty, what would stop someone from joining the contest on the last week (to be extreme) and smacking a 60% winner and winning the contest? Just something to think about.

[peanuts]

Yes it is only a game...But I'll admit...I just threw out stox to try to win...I don't want people to actually think I like most of them I throw out for the contest...Because I don't...And the majority of my pix I never trade.

I'd prefer to actually put up some that I am either trading or that I think might be worth a shot...But there is no time.

Now I know that my trading style doesn't really help anyone here...It is too quick for most...And anyway, they can't really benefit from reading what I did 15 mins ago...Nobody is sitting here next to me to see what I am doing.

I try to put up some interesting lists on the weekends for intermediate term traders...But those are rarely what I use for my own trading...As a matter of fact I have no idea what I will be watching tomorrow morning at this point...It is just a matter of time management for me right now...Best, Doug

A week is a long time for a day trader...

I bet you will play... The year is long

time management? Dude, it takes 2.34 seconds to type, "XYZ, long"

[peanuts]

It was strictly meant as a joke Peanuts. Pointedly sarcastic to some degree but as a joke. Don't be to hypocritical as you have used more than your fair share of profanity in your posts in the past and it never seemed to bother you that you were on a public forum. But I promise that I will be on my best behavior on or off your thread.

???huh???

hypocritical? Did I pass judgement?

I cuss at times.

Cuss away all that you want, I personally don't care... but some do, and they will judge you...

I'll hold you to that last statement, Ski

[skiracer]

It's not against the rules But, discretion should be used when choosing the way one should represent themselves in a public forum.

It was strictly meant as a joke Peanuts. Pointedly sarcastic to some degree but as a joke. Don't be to hypocritical as you have used more than your fair share of profanity in your posts in the past and it never seemed to bother you that you were on a public forum. But I promise that I will be on my best behavior on or off your thread.

[IIC]

Doug,
It's only a game. 95 % of the players don't own what they play and have no real interest in the outcome except wanting to win. What does it take to make one or two selections a week if you own them or not. Throw a dart every week. You cannot say that you did not enjoy the notoriety you gained with some of the come from behind winners that you had this year and remember the "Iceman" moniker that Rob coined just for you. You played that out to the max. Is the ice in the Iceman's veins starting to melt or what. Your final percentages for this year are among the highest of the whole group regardless of your basic style of trading. Besides, I think Peanuts is going to let us curse this year.

Yes it is only a game...But I'll admit...I just threw out stox to try to win...I don't want people to actually think I like most of them I throw out for the contest...Because I don't...And the majority of my pix I never trade.

I'd prefer to actually put up some that I am either trading or that I think might be worth a shot...But there is no time.

Now I know that my trading style doesn't really help anyone here...It is too quick for most...And anyway, they can't really benefit from reading what I did 15 mins ago...Nobody is sitting here next to me to see what I am doing.

I try to put up some interesting lists on the weekends for intermediate term traders...But those are rarely what I use for my own trading...As a matter of fact I have no idea what I will be watching tomorrow morning at this point...It is just a matter of time management for me right now...Best, Doug

A week is a long time for a day trader...

[peanuts]

I'll take BDCO long. OIL stock which should get discovered.

OK, DMK, I have your first weekly pick as BDCO, long. The contest will begin on Jan 2, 2007. You have until then to change your first entry.

[peanuts]

.... Besides, I think Peanuts is going to let us curse this year.

It's not against the rules But, discretion should be used when choosing the way one should represent themselves in a public forum.

[peanuts]

Hello Peanuts, my love, I notice you do not include any rules re. IPO's, which was a subject of discussion when Rob was modertor. Riverbabe

Thanks sweetness, I have ammended rule #7 to reflect the manner in which an IPO may be played. It is the only time that limit orders will be accepted.