HDTVBG (52.05)

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New CAPS Pick Rules?!

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June 14, 2010 – Comments (10)

Okay, I seem to have missed the announcement but the revised help files confirm it. The old Pick Rules of a minimum $1.50 price and $100 Million Market Cap are dead. The new Pick Rules are a minimum price of only 50 cents plus $50,000 trading volume on the previous day, and a recent average trading volume of $50,000. This opens up a whole new world of thumbs up and thumbs down spec plays in the low priced arena. Did I miss the e-mail or press release? Something huge like this should have been announced in some way. The first time I noticed a stock was pickable even though it's market cap was below $100 million I even filled out a BUG REPORT!

Happy hunting fellow bottom feeders and bargain shoppers!

10 Comments – Post Your Own

#1) On June 14, 2010 at 3:24 PM, miteycasey (96.52) wrote:

It was posted to the site.

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#2) On June 14, 2010 at 4:22 PM, miteycasey (96.52) wrote:

http://caps.fool.com/Blogs/alert-caps-rule-change/397253

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#3) On June 14, 2010 at 5:10 PM, Teacherman1 (47.85) wrote:

Did this just happen today? I tried to open a pick that met the new requirement, but it would not let me. Said it had to have a minimum of $1.50 per share price.

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#4) On June 14, 2010 at 5:13 PM, Teacherman1 (47.85) wrote:

Is there a different set of rules for start limits than for directly picking a stock? If so, that makes no sense.

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#5) On June 14, 2010 at 5:23 PM, TMFCrocoStimpy (93.64) wrote:

Teacherman1,

The powers-that-be on CAPS (I am not one of them) are aware of the disconnect between the new rules and the front end process that controls limit orders, and a remedy is in the works. A fix is on the way.

-Stimpy

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#6) On June 14, 2010 at 5:52 PM, Teacherman1 (47.85) wrote:

Thanks Stimpy

I thought I was having a "Senior Moment" for awhile.

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#7) On June 15, 2010 at 11:56 AM, HDTVBG (52.05) wrote:

Miteycasey,

Good find, but a blog entry by TMFJake is not exactly what I'd consider to be due diligence on Motley Fools part. I think they should have made an effort to disseminate the change info to all CAPS participants with an e-mail push or sidebar note.

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#8) On June 15, 2010 at 7:03 PM, TSIF (99.96) wrote:

There were multiple blogs by TMFJake, floating and refining the concepts, but I agree a final notice with an alert or space on one of the pages might have been useful. I'm guessing that the plan was/is to get the "bugs" out of the new system before full broadcast. I am aware of many tickers that needed to be added, many that didn't sync, and the various bugs around Limit Orders and $1.50 that I also reported.

Not advertising the new features, should they have needed to be aborted or held due to bug fixes might have been the thought. I have seen several times the FOOL tried to innovate and had to balance chasing bugs within the full view/discomfort of the populace, but again I fully agree that soemthing more formal after the first few days would have been useful for the ol' guard who suddenly saw these type of picks opening up on players profiles.

Good luck!

Caution, sub-$1.50 picks carry a huge multiplier effect!!!

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#9) On June 15, 2010 at 7:21 PM, TMFCHarris (99.67) wrote:

Hey guys,

TSIF is right - we were going to announce in a blog post last Thursday, but there have been a couple of issues with picks below the old limits starting correctly and tickers not being ratable. The limit order fix may take a bit longer, and we'll probably announce before that is fixed, but we didn't want to trumpet the cool new rules until they were working properly.

Fool on,
Chris

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#10) On June 15, 2010 at 7:53 PM, TSIF (99.96) wrote: