Ouch, I've fallen (the most) and I hope that I can get up. That doesn't even sound right LOL. The goal of this contest as I understood it is to come in last, right? To get free silver, right?
To forgive is to free a prisoner, and to discover that prisoner was you.
@Wingsrule said:
Just remembered JohnnyCache had a reverse split, so he's really not doing as well as shown.
split should not change his portfolio balance. He now has twice the shares at half the original price. A split changes the price and at the same time compensates for the change in price by proportionately changing the number of shares held so that the dollar balance remains unchanged. When you calculate his balance from here out you have to calculate using the "new" number of shares held. Price changes (splits, rev. splits) are normally done to either get the price up to avoid de-listing on the exchange or to bring the price down, usually to bring in more investors.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@piecesofme said:
Long since out of these except for the OIH call. I rarely stay in any trade longer than a month, win or lose.
Keep in mind that this is not a game of who's the best trader. It is a game of who will be on top when the roulette wheel stops on Dec. 31. A contest of who was the best fortune teller a year ago. But still loads of fun and excitement. Thank you Wingsrule.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Agree with your statement, derryb, but my spreadsheet setup is now (incorrectly) comparing the 12/31 price to today's price to calculate gain/loss. I need to adjust the 12/31 price accordingly.
You're well on your way to getting that 1 oz of free silver from WR, but I may end up giving you a run for it lol. The goal for some here is to win this, while others is to be last for free silver
To forgive is to free a prisoner, and to discover that prisoner was you.
NEW YORK , Feb. 28, 2017 /PRNewswire/ -- Direxion has announced it will execute reverse share splits for eight of its exchange-traded funds ("ETFs"), as well as forward share splits for another seven ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
Eight Reverse Splits
Direxion will execute reverse splits of the Direxion Daily S&P 500® Bear 1X Shares, Direxion Daily Gold Miners Index Bull 3X Shares , Direxion Daily Junior Gold Miners Index Bull 3X Shares , Direxion Daily Junior Gold Miners Index Bear 3X Shares , Direxion Daily Semiconductor Bear 3X Shares , Direxion Daily Regional Banks Bear 3X Shares , Direxion Daily Russia Bear 3X Shares , and Direxion Daily S&P 500® Bear 3X Share. The splits are effective at the open of the market on May 1, 2017 .
A summary of the eight ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective May 1, 2017 ):
As a result of this reverse split, every two, four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value ("NAV") and next day's opening market price will be approximately two-, four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the "NYSE Arca") on a split-adjusted basis on May 1, 2017 .
The next day's opening market value of the Funds' issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical one-for-two, one-for-four or one-for-five reverse split anticipated for the Funds, as applicable and described above:
Seven Forward Splits
Additionally, Direxion will execute forward splits of the Direxion Daily S&P 500® Bull 3X Shares, Direxion Daily Latin America Bull 3X Shares , Direxion Daily Small Cap Bull 3X Shares , Direxion Daily Russia Bull 3X Shares , Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares , Direxion All Cap Insider Sentiment Shares , Direxion NASDAQ-100 Equal Weighted Index Shares .
A summary of the seven ETFs undergoing forward splits is as follows:
______________________________________________________________________________
| | |Forward Split|Approximate increase in|
|Fund Name |Ticker| | |
| | |Ratio |total number of |
| | | |outstanding shares |
|_________________________________|______|_____________|_______________________|
|Direxion Daily S&P 500® Bull 3X |SPXL |4 for 1 |300% |
|Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion Daily Latin America Bull|LBJ |4 for 1 |300% |
|3X Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion Daily Small Cap Bull 3X |TNA |2 for 1 |100% |
|Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion Daily Russia Bull 3X |RUSL |2 for 1 |100% |
|Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion Daily S&P Oil & Gas Exp.| | | |
|& Prod. |GUSH |2 for 1 |100% |
|Bull 3X Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion All Cap Insider |KNOW |2 for 1 |100% |
|Sentiment Shares | | | |
|_________________________________|______|_____________|_______________________|
|Direxion NASDAQ-100 Equal | | | |
|Weighted Index |QQQE |2 for 1 |100% |
|Shares | | | |
|_________________________________|______|_____________|_______________________|
As a result of these share splits, shareholders of each Fund will receive two or four shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund's issued and outstanding shares will increase by the approximate percentage indicated above.
All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the "NYSE Arca") on April 27, 2017 (the "Record Date"), payable after the close of the NYSE Arca on the payable date, April 28 , 2017. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on May 1, 2017 (the "Ex-Date"). On the Ex-Date, the opening market value of each Fund's issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the share split. However, the per share net asset value ("NAV") and opening market price on the Ex-Date will be approximately one-half or one-fourth for the Funds. The tables below illustrate the effect of a hypothetical two-for-one and four-for-one split on a shareholder's investment.
Redemption of Fractional Shares and Tax Consequences for Each Reverse and Forward Split As a result of the reverse or forward split, a shareholder of a Fund's shares could potentially hold a fractional share. However, fractional shares cannot trade on the NYSE Arca. Thus, a Fund will redeem for cash a shareholder's fractional shares at the Fund's split-adjusted NAV as of the Record Date. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder's fractional shares. Otherwise, the reverse or forward split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.
"Odd Lot Unit" Also as a result of the reverse or forward split, the Funds will have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an "odd lot unit." Thus, the Funds will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.
Linn Energy (LINEQ) went bankrupt and emerged with the bondholders owning
100% of the new shares. The existing unit holders
received nothing. The loss was 100%. The price shown on some
websites is the last reported price. It is now worth zero.
@s4ny said:
Linn Energy (LINEQ) went bankrupt and emerged with the bondholders owning
100% of the new shares. The existing unit holders
received nothing. The loss was 100%. The price shown on some
websites is the last reported price. It is now worth zero.
Congrat. Did you replaced JohnnyCashe in last place for the free silver?
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I don't deserve much credit. LINEQ was already in bankruptcy and there was
not much chance of recovery by the unit holders.
If I designed the contest, I would not allow options (long or short)
and shorting shares priced under $5.
@s4ny said:
I don't deserve much credit. LINEQ was already in bankruptcy and there was
not much chance of recovery by the unit holders.
If I designed the contest, I would not allow options (long or short)
and shorting shares priced under $5.
Be a lot easier on the score keeper if it was limited to stocks, metals and ETFs; limit of three, longs only. In addition contestant should be responsible for notifying score keeper of splits and reverse splits.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Even though I used options for the 1st time in the contest(looks like it will go down in flames ;~), I agree with S4ny, on options..I'd probably do away with 3x ETFs, as well, maybe keeping 2x to keep some leverage.
Comments
Pick of the week: ETRM from 2.00 to 9.19
Unpick of the week: LINEQ (short) from 0.10 to 0.137
Cracked the top 10! Woot!
See now if this was the real world, which it is for me lol, I would have/did cash out my 13% 4 day profits and keep the original $9k in play.
Gimme a year
Pick of the week: ETRM from 2.00 to 9.19
ETRM over $17 per share today, ( note that this price is after the recent 1 for 70 (!) reverse split
congrats SNMAN! (ring the bell!
)
Liberty: Parent of Science & Industry
Pre-market over $21 this morning, nice.
SNMAN's portfolio just broke the $100K barrier. Not bad for Day 10 of the contest!
My calculations show around $38K. Still amazing!
My Adolph A. Weinman signature
Whoops! Assumed ETRM was his only pick.
I'm off to the races.
I can't believe this dog didn't die last year.
I guess it's not a dog but a greek cat with nine lives
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
Ouch, I've fallen (the most) and I hope that I can get up. That doesn't even sound right LOL. The goal of this contest as I understood it is to come in last, right? To get free silver, right?
2 weeks and 200% up on a 3 pick, nice.
I suck at this. May have to stand on the corner with a cardboard sign, soon.
Hey, I went up two spots! Sad thing is I backed my picks with real trades!
Don't follow me down!
Just remembered JohnnyCache had a reverse split, so he's really not doing as well as shown.
Drat!
I'm losing money.
My political play picks need some love, otherwise I'm shooting for that last place silver!
after hitting near bottom, PLUG jumped up 39% today to bring me close to break even again.
Long since out of these except for the OIH call. I rarely stay in any trade longer than a month, win or lose.
split should not change his portfolio balance. He now has twice the shares at half the original price. A split changes the price and at the same time compensates for the change in price by proportionately changing the number of shares held so that the dollar balance remains unchanged. When you calculate his balance from here out you have to calculate using the "new" number of shares held. Price changes (splits, rev. splits) are normally done to either get the price up to avoid de-listing on the exchange or to bring the price down, usually to bring in more investors.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Keep in mind that this is not a game of who's the best trader. It is a game of who will be on top when the roulette wheel stops on Dec. 31. A contest of who was the best fortune teller a year ago. But still loads of fun and excitement. Thank you Wingsrule.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Agree with your statement, derryb, but my spreadsheet setup is now (incorrectly) comparing the 12/31 price to today's price to calculate gain/loss. I need to adjust the 12/31 price accordingly.
wanted risk on-> gold fall
Seems like risk on and many big commodities up
(Check cocoa chart, tho)
BTW, I want the #1 spot not #last
Overall portfolio down about $250 over the last 3 weeks, even with multiple new record highs in the markets.
I'm sorry...my picks were $172 of that loss
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I'm killing it! lol
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
You're well on your way to getting that 1 oz of free silver from WR, but I may end up giving you a run for it lol. The goal for some here is to win this, while others is to be last for free silver
DRYS declares it has money for a 7cent dividend!
At other end of spectrum, still have stocks I've held 20+ years, real estate 25 years, and some silver for well over 40 years.
Have a difficult time letting go of things
Liberty: Parent of Science & Industry
some PM ETFs are going to split
NEW YORK , Feb. 28, 2017 /PRNewswire/ -- Direxion has announced it will execute reverse share splits for eight of its exchange-traded funds ("ETFs"), as well as forward share splits for another seven ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
Eight Reverse Splits
Direxion will execute reverse splits of the Direxion Daily S&P 500® Bear 1X Shares, Direxion Daily Gold Miners Index Bull 3X Shares , Direxion Daily Junior Gold Miners Index Bull 3X Shares , Direxion Daily Junior Gold Miners Index Bear 3X Shares , Direxion Daily Semiconductor Bear 3X Shares , Direxion Daily Regional Banks Bear 3X Shares , Direxion Daily Russia Bear 3X Shares , and Direxion Daily S&P 500® Bear 3X Share. The splits are effective at the open of the market on May 1, 2017 .
A summary of the eight ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective May 1, 2017 ):
As a result of this reverse split, every two, four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value ("NAV") and next day's opening market price will be approximately two-, four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the "NYSE Arca") on a split-adjusted basis on May 1, 2017 .
The next day's opening market value of the Funds' issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical one-for-two, one-for-four or one-for-five reverse split anticipated for the Funds, as applicable and described above:
Seven Forward Splits
Additionally, Direxion will execute forward splits of the Direxion Daily S&P 500® Bull 3X Shares, Direxion Daily Latin America Bull 3X Shares , Direxion Daily Small Cap Bull 3X Shares , Direxion Daily Russia Bull 3X Shares , Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares , Direxion All Cap Insider Sentiment Shares , Direxion NASDAQ-100 Equal Weighted Index Shares .
A summary of the seven ETFs undergoing forward splits is as follows:
As a result of these share splits, shareholders of each Fund will receive two or four shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund's issued and outstanding shares will increase by the approximate percentage indicated above.
All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the "NYSE Arca") on April 27, 2017 (the "Record Date"), payable after the close of the NYSE Arca on the payable date, April 28 , 2017. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on May 1, 2017 (the "Ex-Date"). On the Ex-Date, the opening market value of each Fund's issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the share split. However, the per share net asset value ("NAV") and opening market price on the Ex-Date will be approximately one-half or one-fourth for the Funds. The tables below illustrate the effect of a hypothetical two-for-one and four-for-one split on a shareholder's investment.
Redemption of Fractional Shares and Tax Consequences for Each Reverse and Forward Split As a result of the reverse or forward split, a shareholder of a Fund's shares could potentially hold a fractional share. However, fractional shares cannot trade on the NYSE Arca. Thus, a Fund will redeem for cash a shareholder's fractional shares at the Fund's split-adjusted NAV as of the Record Date. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder's fractional shares. Otherwise, the reverse or forward split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.
"Odd Lot Unit" Also as a result of the reverse or forward split, the Funds will have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an "odd lot unit." Thus, the Funds will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.
Gold is down a few dollars. Silver is down a few cents. Tomorrow is another day on the trading floor. TGIF.
Not a good couple of weeks for the metals ETFs. Holders of those picks are expected to drop a few spots next update...
Liberty: Parent of Science & Industry
Go PLUG! Should break into the top ten next go around.
Sweet! sitting on a 2X right now!
bloodbath for me
but with multi-rev-splits the drys long is looking good to take the loser prize (it just had a 1-for-4 yesterday)
New blood at the top!!
Thanks for the update. What is surprising, less than 1/2 the players are still in the black.
Linn Energy (LINEQ) went bankrupt and emerged with the bondholders owning
100% of the new shares. The existing unit holders
received nothing. The loss was 100%. The price shown on some
websites is the last reported price. It is now worth zero.
Congrat. Did you replaced JohnnyCashe in last place for the free silver?
Actually, it's the other way around. He was short LINEQ so he is guaranteed a double.
Nice call s4ny!
Liberty: Parent of Science & Industry
Ah so, thanks for the up date. JohnnyCashe continues to be a shoo in for the free 1 oz silver.
I don't deserve much credit. LINEQ was already in bankruptcy and there was
not much chance of recovery by the unit holders.
If I designed the contest, I would not allow options (long or short)
and shorting shares priced under $5.
Be a lot easier on the score keeper if it was limited to stocks, metals and ETFs; limit of three, longs only. In addition contestant should be responsible for notifying score keeper of splits and reverse splits.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Agreed.
Wingsrule is way too nice and lenient. I would scope it simple, as mentioned above.
All in all though, kind of fun to watch what others think and research.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Things have improved at least.
The first year, some of the assets chosen were milk, lumber, and postage stamps.
Liberty: Parent of Science & Industry
No matter what, kudos to Wingsrule for periodic updates... especially the next few
Liberty: Parent of Science & Industry
Yeah, Appreciate the time Wings puts in on this.
Even though I used options for the 1st time in the contest(looks like it will go down in flames ;~), I agree with S4ny, on options..I'd probably do away with 3x ETFs, as well, maybe keeping 2x to keep some leverage.