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More interesting contests, please?



January 28, 2009 – Comments (3) | RELATED TICKERS: SPXS , FAZ , TZA

The short-term underperform contests have turned into "Who got luckiest with the timing of their 3x Bear ETF's?" contests. See, the market is always going up and down. At some point, the S&P 500 has reached its nadir for the duration of the contest, and at that exact point, 3x Bear ETF's are guarantied to win, because they'll go down something like 30% while the S&P goes up about 10%, for about 33 pts each, times however many picks are allowed, with 100% accuracy. And all the poor shmucks who have unluckier timing are just contributing a warm body to (potentially) increase the dollar value of your prize.

Yeah, it's as much my fault as anyone's. I've got two accounts with all 3x and 2x Bear ETF's in the current contest.(Is that against the rules? I honestly don't know.) Anyway, it would be nice to have contests that are more skill oriented. Thanks!

3 Comments – Post Your Own

#1) On January 28, 2009 at 2:32 PM, FleaBagger (27.42) wrote:

Oops. That post was overedited: for wahtever reason, I rounded up the % estimates, and forgot to adjust the points accordingly. 40 pts each. Ha ha ha.

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#2) On January 28, 2009 at 3:08 PM, Gemini846 (34.77) wrote:

A better contest would be to find 5 listed or nasdaq non fund companies and be bullish.

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#3) On January 28, 2009 at 3:25 PM, goldminingXpert (28.83) wrote:

I want a comp where you can only pick underperforms, and they must all be on 5-star stocks. After riding 5-star piece of junk TGC Industries down from 10 to 2 and change, I feel that this would be a useful contest for the community as most people don't have the guts to swim upstream.

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