XCPUS Stock Picking Challenge - 4th Quarter + Prize

[SuperFly03]

argh, i dont like that it doesn't place my buy at the open price when the markets open, they just sit there for like 30-1hr and then I lose out on the morning price jump!

Set a limit sell.

Effectively a limit sell is saying "If the stock goes above $X.XX, sell it automatically".

However, it wouldn't really matter because you have to hold the stock for 8 hours so if you bought it at open you wouldn't be able to sell it until the next trading day.

[BaldEagle]

Set a limit sell.

Effectively a limit sell is saying "If the stock goes above $X.XX, sell it automatically".

However, it wouldn't really matter because you have to hold the stock for 8 hours so if you bought it at open you wouldn't be able to sell it until the next trading day.

Isn't it more than 8 hours between closing and opening.

Buy late and sell early...

[SuperFly03]

Isn't it more than 8 hours between closing and opening.

Buy late and sell early...

Good point.

[Tark]

my point was that is opens at say 15, and that's the price I want to pay, by the time it actually puts my buy through though the price is up at 15.50 or 16.00 already.

[SuperFly03]

my point was that is opens at say 15, and that's the price I want to pay, by the time it actually puts my buy through though the price is up at 15.50 or 16.00 already.

Ok I see what you mean.

I think that is a case of investopedia not updating for afterhours trading.

Stocks continue to trade after the market closes and when the US market opens stocks jump or dive straight to the after hours price.

So your "buy at open" trade gets executed at what the price is at opening which may change from the closing price due to after hours trading. This wasn't always the case... but since the advent of electronic trading... yeah.

Did I make any sense?

[BaldEagle]

my point was that is opens at say 15, and that's the price I want to pay, by the time it actually puts my buy through though the price is up at 15.50 or 16.00 already.

If you have your buy order in before the market opens it is bought at market opening price...although yesterday it took until 1:30PM before it posted it. If you wait until the market opens the price you see is delayed 20 minutes and then it waits in queue for another 20 minutes before a trade is executed. After a trade executes it takes a while to update and depending on server volume that can be a long time. As SF points out there are stop and limit orders that can be used (extra $10 fee) and those are not subject to the 20 minute delay once it has been 20 minutes since they are entered. The stop and limit orders will execute when a price drops or rises to the limit and are executed immediately at the market price which may not be exactly that value especially at market opening.

As I pointed out before though you can get in just before close (literally minutes from closing) and then sell at opening should the market look unfavorable for that purchase. If you do buy at market close you have to wait 8 hours to put in a stop or limit order however as the market is still closed it will still execute at opening.

[wuzy]

Hmmm, I can see very good reason now why SF picked Dollar Thrifty Auto.

Really, I trust an accountant.

[SuperFly03]

Hmmm, I can see very good reason now why SF picked Dollar Thrifty Auto.

Really, I trust an accountant.

What reason did ya find? I've got multiple

[BaldEagle]

What reason did ya find? I've got multiple

Analyst: Dollar Thrifty exec move may speed sale: Financial News - Yahoo! Finance

Was it the new CEO?

The replacement of Dollar Thrifty Automotive Group Inc. President and Chief Executive Gary L. Paxton with Chief Financial Officer Scott L. Thompson may speed the car rental company's sale to a rival, an analyst said Tuesday.

Or did you mean this?

He expects the company to be acquired by rival Hertz Global Holdings Inc

Of course there was this one you probably missed when you bought it?
Dollar Thrifty Plunges On Covenant Warning (DTG) | September 23, 2008 |By Eric Fox - Investopedia Advisor

WTF were you thinking?

Dollar Thrifty amends credit agreements: Financial News - Yahoo! Finance

OK... You weren't completely nuts.

Wait a second what is that buried in there...

The company also said it must maintain at least $60 million in unrestricted cash and cash equivalents.

Holy S***, the whole company's value is only $22M at current market price and they are sitting on over 3X that in cash.

Good thing SF can't win...

[SuperFly03]

Analyst: Dollar Thrifty exec move may speed sale: Financial News - Yahoo! Finance

Was it the new CEO?


Or did you mean this?


Of course there was this one you probably missed when you bought it?
Dollar Thrifty Plunges On Covenant Warning (DTG) | September 23, 2008 |By Eric Fox - Investopedia Advisor

WTF were you thinking?

Dollar Thrifty amends credit agreements: Financial News - Yahoo! Finance

OK... You weren't completely nuts.

Wait a second what is that buried in there...



Holy S***, the whole company's value is only $22M at current market price and they are sitting on over 3X that in cash.

Good thing SF can't win...

Everything you found... I knew more than 2 months ago.

You forgot the Covenant amendment

I could even tell you why their stock tanked from nearly $5.50 to $2.00 in 2-3 days but that'd be illegal.

I will say this... the CFO and CEO know their sh it. Cliff is a really cool dude. Obviously I think the CEO is awesome.... He's my father

I'm slightly biased.

[SuperFly03]

Oh don't forget they are 95% institutionally owned.

[BaldEagle]

Everything you found... I knew more than 2 months ago.

You forgot the Covenant amendment

I could even tell you why their stock tanked from nearly $5.50 to $2.00 in 2-3 days but that'd be illegal.

I will say this... the CFO and CEO know their sh it. Cliff is a really cool dude. Obviously I think the CEO is awesome.... He's my father

I'm slightly biased.

Ever hear of insider trading?

Good thing it's just a game or you'd be doing the Martha Stewart routine...

[SuperFly03]

Ever hear of insider trading?

Good thing it's just a game or you'd be doing the Martha Stewart routine...

Nope. As a CPA we never hear of insider trading.

That's also why I didn't say anything really about what I picked it and what's what.

[BaldEagle]

Nope. As a CPA we never hear of insider trading.

That's also why I didn't say anything really about what I picked it and what's what.

Picked up a few "virtual" shares (not real money! ) of DTG but the market caved faster than I though so it bought in early and it looks like DTG is going to be yet another loser today.

Of course other than shorting the market it's tough to make anything on a -500 day.

You are totally nuts on that SIRI pick though there is nothing going to happen there.

No cash? what were you thinking?

[BaldEagle]

For those of you holding live grenades (JPM, C, BAC) you may want to read this...

Will Lehman bankruptcy drop a $400 billion shoe on October 21st? - BloggingStocks

three of the largest banks on Wall Street -- JPMorgan Chase (NYSE: JPM), Citigroup Inc. (NYSE: C) and Bank of America (NYSE: BAC) -- control 92% of the CDS market.

I love this headline ignore the facts and report what is convenient....
http://www.marketwatch.com/news/stor...64E604D7213%7D

Prices for crude core goods fell a record 9.4% last month, compared with the previous record drop of 7.7% in 1974.

Prices didn't fall it's just that energy dropped like a friggin rock and food decreased as well to cover up the .4% jump in the core price inflation. You know we always heard about that core inflation when energy was shooting into the stratosphere well guess what it doesn't matter now.

Also on the data front Wednesday, the government reported that U.S. retail sales fell a wider-than-anticipated 1.2% for September, the worst drop in three years and the third decline in a row -- not to mention a further sign that the economy has sunk toward recession.

Hang on it's going to be a bumpy ride down hill now that consumers stopped buying...

[beerandcandy]

beerandcandy looks at live grenade in his hand

[BaldEagle]

Couldn't resist sharing this one nearly fell off the chair when I saw it.

Dow Jones Industrial Average fall 307.52 points to 2,270.39 - MarketWatch

[BaldEagle]

Hit my stop loss limit a hour ago and it doesn't show as sold so I can't buy back in before close...

Good thing this POS game is free.

[DaSickNinja]

10K UP! Wooty woo

[beerandcandy]

ya lol im trying to sell my amd stock at a profit but the game has the wrong value for it listed