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| 1. |
Free Registration |
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To enter the competition individuals must go online to Alliance Investment’s home page at www.allianceinvestment.com then click on the “Stock Wizard” icon.
From that page individuals will click on the “Registration” link to open the registration screen.
In order to register individuals must accurately complete all the fields on the registration page.
Registration is absolutely free.
Each individual should only register once.
Multiple registrations coupled with trading may result in disqualification.
If you experience log-in or registration difficulties, contact us immediately at stockwizard@allianceinvestment.com or telephone 960-4321.
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| 2. |
Trading Dates & Initial Cash Balance |
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The trading period begins on August 18, 2008 and ends on November 7, 2008.
The registration period runs from July 21, 2008 to August 30, 2008.
The initial cash balance is US$25,000.00 in virtual funds. |
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| 3. |
Inactive Accounts |
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Accounts which reflect no trading up to 5 weeks after the competition begins will be closed.
This means trading must be initiated by all competitors no later than Friday, September 19, 2008. |
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| 4. |
Trading Times |
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Trades made via the web will receive 15-20 minute delayed prices as long as the trade is placed after 9:30 a.m. and by 4:00 p.m. EST. Trades placed after 4:00 p.m. EST will receive the next day’s open price. Alliance is not responsible for trades that are not received or are incomplete. |
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| 5. |
Tradeable Securities |
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STOCKS: You may buy, sell, sell short and cover almost all NYSE, NASDAQ, and AMEX stocks (common and preferred) that are trading at $3.00 or more.
IPO’s are usually available the afternoon that the new stock starts trading on the exchanges.
All stock trades must be a minimum of 10 shares.
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| 6. |
Trading Terminology |
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Many people and books use different terminology to describe the same type of transaction. To avoid any communication problems which may occur during the trading process, please refer to the following list of terms that STOCK-TRAK uses to place orders for various types of transactions.
STOCKS: There are four basic ways in which stocks can be traded. They can be bought, sold, sold short, and covered. When "buying" a stock, you are taking a long position with the hope that the price per share will increase. "Selling" a stock refers to the closing of that long position. "Selling short" is selling a stock that you don't own (you actually borrow the stock from the broker) with the hope that you can later buy the stock back at a lower price. When you buy the stock back to close your short position, it is called "covering" your short position. You cannot hold a long and short position in a stock at the same time. |
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| 7. |
Volume & Purchase Restriction |
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- Individuals may not invest more than 30% of their initial cash balance in any one stock.
- Individuals may not buy or short sell stocks trading under $3.00 per share.
- The maximum number of shares an individual may trade is limited to the actual volume of the stock that day.
- Individuals may not hold short and long positions in the same stock at the same time.
- Occasionally prices may vary from one quote source to another. Adjustments will not be made because of price discrepancies, unless the price was outside the range quoted in the Wall Street Journal.
- Individuals may not buy and sell the same stock on any given business day, i.e. you will not be allowed to day-trade.
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| 8. |
Ticker Symbols |
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When making trades, you must know the ticker symbol of the securities to be traded. Stock ticker symbols can be found in The Wall Street Journal, in Investor's Business Daily, Yahoo Finance, Bloomberg, CNBC, CNN Money and on our web page. |
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| 9. |
Commission |
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A brokerage commission of $25 is applied to all transactions. Commissions will be charged to both opening and closing transactions. |
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| 10. |
Margin Requirements |
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The margin requirement for stock purchases and short sales is 50%. This means that for stock purchases you can borrow up to 50% of the total cost. For short sales, you must deposit an amount equal to 50% of the current market value of your short positions. Starting with $25,000, STOCK-TRAK may loan you another $25,000, making your total buying power $50,000 if you are trading marginable securities. |
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| 11. |
Interest Earned |
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Interest will be earned on all available cash balances and credited at the close of each day. Interest will be calculated using a money market rate, currently 3%. |
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| 12. |
Interest Charged |
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Interest will be charged on all loan balances and will be debited at the close of each day. The rate of 8% per annum will be charged on all loan (margin) balances. |
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| 13. |
Portfolio Evaluation |
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Participants can review their activity and ranking at any time during the competition. Please review your account activity and report any discrepancies immediately. Transactions that are disputed two weeks after the posting date may not be adjusted. |
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| 14. |
Calculation of Equity |
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A portfolio's equity or value is calculated as follows:
Cash - Debit bal. + Credit bal. + MV of long positions - MV of short positions, where
Debit = loan balance, Credit = short sales proceeds, and MV = current market value. |
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| 15. |
End of Competition |
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You do not need to convert all of your investments to cash on the last day of the competition. Your portfolio will be valued at the closing prices for that day. The official winner of the competition will be announced by a representative of Alliance Investment Management Limited within three weeks of the last trading day of the competition. |
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| 16. |
Competition Eligibility |
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Individuals wishing to be eligible to be declared winners must meet the following requirements:
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Must reside in Jamaica
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Be at least 18 years of age
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Have an email address
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Possess a valid Driver’s Licence, Passport or National I.D.
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Make at least 20 trades by the end of the competition but not exceed 100
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Staff and immediate family members (parents, brothers, sisters, children) of Alliance Investment Management, Stock-Trak and their affiliate companies will be permitted to enter the competition but are not eligible to win prizes.
Finalists who were awarded online accounts are not eligible to compete in the Stock Wizard Challenge for two years after winning or placing in that competition.
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| 17. |
Prizes |
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The individual with highest portfolio value at the end of the competition will receive an Alliance Investment Management Limited Online Trading Account valued at US $1,000.00. The next three individuals with the highest portfolio value will each receive Alliance Investment Management Limited Online trading Accounts valued at US$500.00 each.
Prizes may be claimed up to sixty days after the official announcement of the winners of the competition. If after sixty days a prize is unclaimed then the prize cannot be awarded as it has become null and void.
Online accounts awarded to prizewinners must be maintained for a minimum period of twelve months before closure or withdrawal of the initial sum.
Profits in excess of the initial sum can be withdrawn at any time.
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| 18. |
Disputes and Errors |
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When you make a trade, you will receive a confirmation. You must keep copies of your confirmations. If you believe an error has been made on your account, please call during our office hours. Please do not call without the confirmation number of the trade in question because nothing can be resolved if this information is not provided.
Representatives of Alliance Investment Management Limited and of STOCK-TRAK have the ultimate authority to settle disputes. All decisions made are final.
Rules are subject to modifications without notice.
By use of your account you agree to the rules stated herein and you agree that your name may be used by Alliance Investment Management Limited for marketing and promotional purposes. |
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