To place price alerts in the sim, the first thing you'll need to do is to make sure that in your settings, under the notification tab, you select how you'd like to receive those alerts (keep in mind the sim is not set up for SMS alerts at this time). See screen shot below.
Once you've selected how you'd like to receive those alerts, you can then refer to your Price Alert widget. Click on "Add", and then you'll be able to set up the price alert. Once you have the desired alert settings, click "OK". See screen shot below for
You have now successfully set up a price alert, and you'll see the alert you have set up show up in the Price Alert Widget.