You still have to place the order during trading hours, you just will get filled at the closing price of the day. Perhaps it is CNBCs way of ensuring no cheating somehow. Basically you must be an end of day trader.
how totrade the cnbc site--challenge??
- Thread starter hitman4gk
- Start date
if you place orders like these before 3:59:59 PM on March 7th:
sell 5000 spy
(there is no short selling, these are the shares you had bought the previous days, at the closing price)
sell 6000 qqqq
buy 7000 xom
buy 3000 aapl
buy 1000 hcb
------------------------
that is 5 trades
cnbc will execute these in the order you have set them or placed them
and all will be executed against March 7 closing prices
sell 5000 spy
(there is no short selling, these are the shares you had bought the previous days, at the closing price)
sell 6000 qqqq
buy 7000 xom
buy 3000 aapl
buy 1000 hcb
------------------------
that is 5 trades
cnbc will execute these in the order you have set them or placed them
and all will be executed against March 7 closing prices
Read the Rules:
What stocks are eligible for trading?
To be eligible for trading in the Contest, stocks must have a market capitalization of at least Five Hundred Million Dollars ($500,000,000) as of the close of the markets on March 2, 2007. Stocks cannot gain eligibility for the Contest after March 2, 2007. Stocks that are deemed eligible for the Contest on March 2, 2007 and subsequently fall below $500 million of market capitalization will not lose eligibility for the Contest. Initial Public Offerings that take place after March 2, 2007 will not gain eligibility for the Contest. 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.
When can I enter my trades?
A trade is defined as a single purchase of one or more shares of a single stock for âcashâ or a sale of one or more shares of a single stock for âcash.â Participants can enter trades seven days per week, at any time except during the period each day, if any, when maintenance is being performed on the Site. It is currently expected that such maintenance will take place between approximately 2:00 a.m. and 4:00 a.m. each day; however, such timing may be changed as needed. No commissions will be charged for trades. All Contest times will be Eastern Standard Time / Eastern Daylight Standard Time.
Is there a limit on the number of trades that can be entered?
Each participant can make a maximum of fifty (50) trades per day, based on the time the trade is entered by the participant on the Site, not the time the trade is executed. A day is defined as 4:00 p.m. to 3:59:59 p.m. on the next trading day. All times listed will be Eastern Standard Time / Eastern Daylight Standard Time.
How are trades prioritized?
Participants will have the ability to prioritize trades within a given day of trading; provided that, all sales will be processed before all purchases. If a participant does not elect to grant a ranking of priority, trades will default to prioritization based upon the time the trade is entered with earlier trades taking priority over any subsequently entered trades.
If a participant submits a trade that either exceeds the daily maximum number of trades or is otherwise inappropriate, such trade will not be processed. If a participant enters a trade to buy, and at the time the trade is executed, the participantâs account does not have enough available cash to purchase the number of entered shares, the participant will receive the maximum number of shares available to be purchased based on the participantâs available cash balance and in accordance with the priority of the stocks to be purchased. Stocks will be purchased in the order of priority until funds in the participantâs account are depleted.
How is the pricing of contest trades calculated?
Trades submitted on trading days (Monday through Friday, other than market holidays) prior to 3:59:59 p.m. will be priced at the stockâs closing price for such day, as such closing price is reported to the Site by Wall Street On Demand, an independent data provider, at approximately 10:00 p.m. on such day. Trades submitted on weekends, market holidays and after 3:59:59 p.m. on trading days will be priced at the stockâs closing price for the next trading day. For purposes of this Contest, the closing price is the price reported to the Site by Wall Street On Demand at approximately 10:00 p.m. and reflects trades that settled after the markets closed, but does not reflect after-hours trading. The official time for all trades will be determined in accordance with CNBC.comâs internal clock, maintained at CNBCâs offices. All Contest times will be Eastern Standard Time / Eastern Daylight Standard Time.
You can only know if a trade was good or bad for you at the end of the NEXT trading day.
What stocks are eligible for trading?
To be eligible for trading in the Contest, stocks must have a market capitalization of at least Five Hundred Million Dollars ($500,000,000) as of the close of the markets on March 2, 2007. Stocks cannot gain eligibility for the Contest after March 2, 2007. Stocks that are deemed eligible for the Contest on March 2, 2007 and subsequently fall below $500 million of market capitalization will not lose eligibility for the Contest. Initial Public Offerings that take place after March 2, 2007 will not gain eligibility for the Contest. 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.
When can I enter my trades?
A trade is defined as a single purchase of one or more shares of a single stock for âcashâ or a sale of one or more shares of a single stock for âcash.â Participants can enter trades seven days per week, at any time except during the period each day, if any, when maintenance is being performed on the Site. It is currently expected that such maintenance will take place between approximately 2:00 a.m. and 4:00 a.m. each day; however, such timing may be changed as needed. No commissions will be charged for trades. All Contest times will be Eastern Standard Time / Eastern Daylight Standard Time.
Is there a limit on the number of trades that can be entered?
Each participant can make a maximum of fifty (50) trades per day, based on the time the trade is entered by the participant on the Site, not the time the trade is executed. A day is defined as 4:00 p.m. to 3:59:59 p.m. on the next trading day. All times listed will be Eastern Standard Time / Eastern Daylight Standard Time.
How are trades prioritized?
Participants will have the ability to prioritize trades within a given day of trading; provided that, all sales will be processed before all purchases. If a participant does not elect to grant a ranking of priority, trades will default to prioritization based upon the time the trade is entered with earlier trades taking priority over any subsequently entered trades.
If a participant submits a trade that either exceeds the daily maximum number of trades or is otherwise inappropriate, such trade will not be processed. If a participant enters a trade to buy, and at the time the trade is executed, the participantâs account does not have enough available cash to purchase the number of entered shares, the participant will receive the maximum number of shares available to be purchased based on the participantâs available cash balance and in accordance with the priority of the stocks to be purchased. Stocks will be purchased in the order of priority until funds in the participantâs account are depleted.
How is the pricing of contest trades calculated?
Trades submitted on trading days (Monday through Friday, other than market holidays) prior to 3:59:59 p.m. will be priced at the stockâs closing price for such day, as such closing price is reported to the Site by Wall Street On Demand, an independent data provider, at approximately 10:00 p.m. on such day. Trades submitted on weekends, market holidays and after 3:59:59 p.m. on trading days will be priced at the stockâs closing price for the next trading day. For purposes of this Contest, the closing price is the price reported to the Site by Wall Street On Demand at approximately 10:00 p.m. and reflects trades that settled after the markets closed, but does not reflect after-hours trading. The official time for all trades will be determined in accordance with CNBC.comâs internal clock, maintained at CNBCâs offices. All Contest times will be Eastern Standard Time / Eastern Daylight Standard Time.
You can only know if a trade was good or bad for you at the end of the NEXT trading day.
Yup this is a long only works best in bull market type of competition where the winner loads up on coin toss explosive stocks and hits them.