Shmolt: RGMI:
The answer is no. As I said yesterday, it had to open at $.49 or less for the trade to go through.
Either we have this rule (which protects against people taking advantage of a "fake" price which they could not take advantage of in the real world - thus the numbers would not be valid) or we have a basterdized contest IMO - which is totally unacceptable to me.
Therefore, the trade didn't go through.
As to futher PSL's we either need to determine some minumum volume amounts OR we have this rule. But, the problem with minumum volume amounts is that it is one more thing we have to fart with when we are picking and monitoring those picks AS WELL AS it doesn't guarantee that this couldn't happen anyway.
Maybe a stock has decent volume for one month prior to the contest, but during the contest the volume falls off to nothing and this type of thing happens. So, I suspect the rule will be permanent.
Len
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