iTulip Community Credits

[Jim Nickerson]

Re: iTulip Community Credits

I used up some credits to purchase a few short funds just before the close today. I don't expect to be in the money tomorrow, but you never know. As I've written before, the best experience I've had buying these short funds is to buy the bounce. The bounce may not be over, but it seems to me that unless the Fed jumps in, I'll earn some serious credits before it does. Of course, if the Fed does jump in while I'm still short, I'll get my ass handed to me. But then my gold stock and ETF positions ought to hedge that somewhat; hard to see how the Fed can drop rates from the current low base with the dollar still poking around 80 and oil still near all-time nominal highs without getting a pop in gold.

This is, of course, not "investing" per se. It is speculating. Then again, in a speculative market, now crashing up and down like a airplane that's lost its tail, all investing is speculative. Most of my money, as I've said before, is in CDs and cash.

So I surmise there is someway to invest the credits, where?

Yes, the trading system.

[Tet]

Re: iTulip Community Credits

This is, of course, not "investing" per se. It is speculating. Then again, in a speculative market, now crashing up and down like a airplane that's lost its tail, all investing is speculative. Most of my money, as I've said before, is in CDs and cash.

It's not a matter of being right or wrong, long or short, this market action is accomplishing what Wall Street wants, we are either in or we are out of the market and Wall Street definitely wants us in. I've gone from 30% cash to 20% cash in the last week and I don't like that one bit.

I seriously doubt Bernieboy is going to help out Cramer tomorrow with a rate cut or even help out with the wording and it wouldn't shock me to see this up/down action run for a while longer, I'd be more worried about Cisco if I were betting short than be concerned about the Fed. Good luck.

[Jim Nickerson]

Re: iTulip Community Credits

It's not a matter of being right or wrong, long or short, this market action is accomplishing what Wall Street wants, we are either in or we are out of the market and Wall Street definitely wants us in. I've gone from 30% cash to 20% cash in the last week and I don't like that one bit.

I seriously doubt Bernieboy is going to help out Cramer tomorrow with a rate cut or even help out with the wording and it wouldn't shock me to see this up/down action run for a while longer, I'd be more worried about Cisco if I were betting short than be concerned about the Fed. Good luck.

If investing isn't the matter of "right or wrong, long or short," come back, Good-buddy, and try again to tell us what it is about.

[Tet]

Re: iTulip Community Credits

If investing isn't the matter of "right or wrong, long or short," come back, Good-buddy, and try again to tell us what it is about.

Sorry, just badly trying to point out the the casino doesn't care if you're winning or losing, just that you're playing, the House knows the odds are on their side. If all you're money is on one of the numbers at the roulette wheel, sooner or later the House takes all your money.

[lobodelmar]

Re: iTulip Community Credits

So Fred, what is the real motivation for this credit program?

Is it to:
-try to increase the frequency of posting?
-give kudos to the most verbose poster? That could be a disincentive for readership.
-Increase the sticky factor for coming back to iTulip?
-allow bragging rights for those who call the market (or more likely, invest in risky bets that pay off?)
-reward those who post/contribute most often?
-teach valuable lessons about investing? (kinda agree with Jim N on how this won't really work well).

I already use yahoo finance "fake" portfolios to watch stocks long term, to satisfy my urge to gamble, er, I mean, adding a stock to my portfolio based on some random news story/hot tip from Uncle Louie/friend from b-school's recommendation, so I am not sure I would get much from the investment contest here...and like DemonD or Jim N says, it might not be that helpful without real skin in the game...

-reward quality contributions? There might be a better way to do that...clearly there are many fantastic minds on this board, and the chartaholics and clever analysts that I enjoy reading so much are certainly invaluable for the discussion. I know there is already a shadow fed, and there are sections where some of the top contributors have their own "columns"...I think going more in that direction is probably more effective.

But if it is just "for the love of the game," then I say, play on...

- lobodelmar

[FRED]

Re: iTulip Community Credits

So Fred, what is the real motivation for this credit program? - lobodelmar

Is it to:

-try to increase the frequency of posting?
-give kudos to the most verbose poster? That could be a disincentive for readership.

The purpose of the credits is to provide a currency for the trading system. But, as long as the credits system has all these other features, we're trying to figure out how best to use them. We changed the settings based on Jim's and other's feedback that longer isn't necessarily better. The system now does reward frequent posting.

-Increase the sticky factor for coming back to iTulip?

The trading system/portfolios have a "sticky" factor. But it's the quality of the posters and an environment where everyone can enjoy constructive discussion, with a sense of humor, that's the main attraction.

-allow bragging rights for those who call the market (or more likely, invest in risky bets that pay off?)

No doubt that will change over time. Sure will be interesting to see whose ideas actually work, won't it?

-reward those who post/contribute most often?

Yes.

-teach valuable lessons about investing? (kinda agree with Jim N on how this won't really work well).

We think that over time the system will do just that.

I already use yahoo finance "fake" portfolios to watch stocks long term, to satisfy my urge to gamble, er, I mean, adding a stock to my portfolio based on some random news story/hot tip from Uncle Louie/friend from b-school's recommendation, so I am not sure I would get much from the investment contest here...and like DemonD or Jim N says, it might not be that helpful without real skin in the game...

I dunno. I have some bets up there and I already feel like my rep's on the line. Rep is more than money, to most folks.

-reward quality contributions? There might be a better way to do that...clearly there are many fantastic minds on this board, and the chartaholics and clever analysts that I enjoy reading so much are certainly invaluable for the discussion. I know there is already a shadow fed, and there are sections where some of the top contributors have their own "columns"...I think going more in that direction is probably more effective.

That's not going away. Thing is, for every ten posters there are 1,000 lurkers. How to draw them out?

We got a surprise coming for the chartaholics by the way. Stay tuned!

But if it is just "for the love of the game," then I say, play on...

There's that, too. This is just one of many things we plan to add.

And if all of our market bets go bad and we all go broke? Well, heck, we can inflate out way out of it, JUST LIKE THE FED! We'll issue everyone 1,000,000 New Credits. Woo hoo! Just kidding.

Thanks.

[Jim Nickerson]

Re: iTulip Community Credits

Hey, Fred.

I just logged into the http://itulip.com/forums/vbtrade.php?do=main to see what may be what.

After one places one's purchases, I assume somewhere there will a member's names with his/her positions. How does one look at that, if that exists?

I see the lists of top investors, but still see no link to how they may be invested.

Okay, I see the magnifying glass, so don't answer my questions.

[Jim Nickerson]

Re: iTulip Community Credits

So where does one transact a sale of a position or part of a position?

Now it is 7PM EDT, and I just put in a quote for RYSBX and it doesn't return a price--what is that about? And it is the same for the opposite fund RYWBX.

[FRED]

Re: iTulip Community Credits

Hey, Fred.

I just logged into the http://itulip.com/forums/vbtrade.php?do=main to see what may be what.

After one places one's purchases, I assume somewhere there will a member's names with his/her positions. How does one look at that, if that exists?

I see the lists of top investors, but still see no link to how they may be invested.

Okay, I see the magnifying glass, so don't answer my questions.

ok, I won't!

[FRED]

Re: iTulip Community Credits

So where does one transact a sale of a position or part of a position?

Now it is 7PM EDT, and I just put in a quote for RYSBX and it doesn't return a price--what is that about? And it is the same for the opposite fund RYWBX.

Hmmmm. Just used the trading system to do a search and got:

RYDEX SERIES FDS (6:02pm:RYSBX) N/A (+0.11) 24 +0.45% 8/7/2007

RYDEX SERIES FDS (6:02pm:RYWBX) N/A (-0.13) 28 -0.47% 8/7/2007

[Jim Nickerson]

Re: iTulip Community Credits

Hmmmm. Just used the trading system to do a search and got:

RYDEX SERIES FDS (6:02pm:RYSBX) N/A (+0.11) 24 +0.45% 8/7/2007

RYDEX SERIES FDS (6:02pm:RYWBX) N/A (-0.13) 28 -0.47% 8/7/2007

Yes, but do you see there is no price quotation. If you put in HSGFX you will get the closing price plus the other stuff you posted.

I own RYSBX, and if I get around to putting in my portfolio later this evening, that there is no price there, that will negate my putting in that position, I suspect, but do not know fer shure.

[Tet]

Re: iTulip Community Credits

Yes, but do you see there is no price quotation. If you put in HSGFX you will get the closing price plus the other stuff you posted.

I own RYSBX, and if I get around to putting in my portfolio later this evening, that there is no price there, that will negate my putting in that position, I suspect, but do not know fer shure.

Interesting, that's one I hadn't seen before and the one on the Real Estate Short fund was also interesting. I would think the RYSBX fund would be off a lot more than .7%, what am I missing here, d0llar is off more than .7% YTD isn't it? Thanks.

[Jim Nickerson]

Re: iTulip Community Credits

Interesting, that's one I hadn't seen before and the one on the Real Estate Short fund was also interesting. I would think the RYSBX fund would be off a lot more than .7%, what am I missing here, d0llar is off more than .7% YTD isn't it? Thanks.

It is not clear to me where you are getting the "0.7%" number. At any rate look at chart, that should help you answer your question.

[Tet]

Re: iTulip Community Credits

It is not clear to me where you are getting the "0.7%" number. At any rate look at chart, that should help you answer your question.

This is what I see. http://finance.yahoo.com/q?s=RYSBX

Off seven tenths of one percent Year to Date. I thought the d0llar was off more than that YTD.

[Jim Nickerson]

Re: iTulip Community Credits

This is what I see. http://finance.yahoo.com/q?s=RYSBX

Off seven tenths of one percent Year to Date. I thought the d0llar was off more than that YTD.

OIC -- Oh, I see, thanks. I'm hanging with RYSBX (SB = strong buck) moves +2X US$ index, partly because of this http://www.buythebottom.com/cot_charts/usd.html (sorry can't get image to import).

partly because there is such a large short position in the bonar, and partly because I believe Ka- has not arrived.