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Another proposal, how about we allow investing in companies like ITE, but not trading, ie no sell option for ITE?

Patrick - I would support you proposal. I don't know of a trader in his right mind that would want to trade ITE as volumes are low and price movements are normally gradual. Another suggestion is that you limit buy and sell orders against that days volumes for the day - if you buy/sell volumes greater than those traded for the day then you will only have your order executed up to the volumes traded and at the price that the shares traded at not your order price
Just my views

Thanks Aragorn, seems reasonable enough to me, ABSA shows a 2.5% spread, I'd say we add it. Any more comments from the rest of the players?

ITE does not seem to be a high traded counter and does move sometimes quite a bit 40 cents at a time. The shares are tightly held by the Ravazzotti clan. I bought these shares over 3 years ago and they pay reasonable dividends. It seems that the price over the last 12 months has had a low of R 5.50 and a high of R 8.00 but it does hover around the R 7.60 price for long periods. As a counter I think it should be in the competition, but as a stellar performer I think you may well have to look elsewhere

You need to concentrate over the next few weeks on constructing rules and regulations which bind the club. You need to address the issues of what happens when one of the members decides to bail out of the club in the future - will they be allowed to take their initial investment, will they get paid part or profits on exiting, and will they have to pay in where the club has sustained an overall loss. Since its a club the chances are there will be some churn on your investments and you may well sell shares which you have not held for a SARS prescribed 3 year period which then categorises all profit as revenue and tax will be paid at marginal rates. You may have to register your club to avoid having to pay tax at private individual marginal tax rates.
I think there is a lot of ground work that you need to do before you even contemplate transacting as a club

From this thread and the other on frequency of traded stock, here is something to consider.
The objective of the competitors is to win the competition at year end; the objective of the moderators is to ensure everyone gets a fair shake at winning and that unjustified trades are taken out of the equation as the specific counter may not have sufficient trades.
This is an option to be considered
1) All shares are included on the list of shares one is permitted to purchase/sell
2) Orders to buy/sell are subject to sufficient volumes of the counter being bought/sold having traded on the day. If insufficient volumes then the order is rolled back totally or the buy/sell order is limited to the volumes that went through that day. This infers that the competitor can not buy or sell shares in a low volume counter greater than the shares traded on that day. Thus the buy/sell order would take up the maximum number of shares and the unexecuted volume would revert to cash in the competitors trading account
3) All sales effected are subject to 40% tax and are to be lost in the ether of the sale and this tax is to be taken at the time of the sale. Thus those people who buy and hold their portfolio to the end of the competition would not incur any taxation, but those who buy and sell frequently will suffer capital losses each time they sell. Competitors would then look very carefully at the net result of selling out of a counter either fully or partially. 

The competition was set up as an investment competition and not as a trading competition, but it does allow those who want to "trade" to do so it just means the tax will hurt them when they sell more frequently
This is not the only solution but is an option for the competitors to consider and then decide the best way forward

do you get the bid and offer prices?
That would be closest to reality IMO

I don't know that the bid and offer prices are closer to reality than the real transaction prices. In some cases the highest bid/offer price would be a few cents off the transaction figure. By the same token in a choppy market the bid and offer could be quite substantial. The fundamentals of the exchange are that at a point the bidder and offeror agree a price at which they are prepared to buy/sell and the transaction is concluded. So my view is that we need to stick with the last transaction price 

I agree with Bundu and Tgg. Not with the gambler and wannabe cheater gcr. At this stage I have not even bothered to enter the competition and will not do so. I cannot compete against cheaters.
This is purely an INVESTING for CLIENTS in a MANAGED ACCOUNT and not TRADING. If you want to trade then go to a trading website. Leave us investors alone to do our investing.
To avoid scalping, the only way to go is to use closing or opening prices only. Same as ShareNet does. The starting gun has been fired and should be fired again to get all back to the start point.

 

Orca - you really need to watch your mouth especially after 6.30 p.m. 

Quote from: aae on January 07, 2014, 12:55:32 pm

and griffin sells at 11.29, price dropped on jse at 11.11.

not very sporting

very unsporting! I can't help but wonder, if that is also the tactics he employed when buying last year.....

I don't believe griffin is unsporting at all - he saw a gap in the process/system/and rules and exploited it. The only way you get a robust system that caters for the majority is letting lose some mavericks to test the system and find the gaps. I get live prices on my broker system and I too watch the price being used by this system and buy in when there is a difference in price, and I will do the same when selling - its called playing the odds

Six of the top 10 are penny share holders of which 5 are 1c that doubled to 2c. This already tells you that 1c stock holders will always be in the top 10. If this is allowed then most participants will in future buy 1c stocks and make a mockery of the competition and the genuine investors will not bother to partake.

By the same token those who have bought penny stocks to win the competition may well also not participate next year because of the rules, so it makes sense to split the competition in two - the serious investors are happy and the gamblers are happy