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cnbc millionaire portfolio challenge

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October 15, 2011 – Comments (2)

just wondering how many fools are in this challenge??? it is totally against my long term fool investment thinking. i signed up sept. 20th & ranked in the 20 to 30 percentile for 2 weeks & thought wow i am dumber than i thought at picking stocks. then i realized that i did not have 3 to 5 years but 10 weeks. so i started trading daily & have climbed to the 93.07 percentile. any thoughts from my fool friends would be greatly appreicated as to what stocks you would pick this week to explode & also how my fellow fool friends are faring in this challenge. thanks in advance traderpat9 (aka) pat morris

2 Comments – Post Your Own

#1) On October 15, 2011 at 5:51 PM, rd80 (97.31) wrote:

Hi Pat,

I'm not too far behind you with my second portfolio at 91.94%.  I shifted to the second after blowing up the currency side of the first attempt - although that one's now recovered to somewhere in the top half.

I've been gradually adding to stock picks as the contest goes along, no stock sales yet.  I'm down on the currency side, but have confidence that the euro will find new problems to drag it down before the contest ends. 

My best stock % gain for the contest is Citigroup at just under a 15% gain.  ProShares UltraShort 20+ Year US Treasury is my biggest dollar gainer.

If you want a dice roll, BAC reports earnings on Tues.  As beaten up as it is, a postive report would likely spark a nice jump and a lot of the downside is already in the price.  Citi and Wells may give some clues when they report Monday.   I'm rolling the dice with Wells on earnings, but it's too late to get in before it reports Mon morning.

I'm like you on the time frame.  The game's kind of fun, but ten weeks doesn't fit my investing style very well.  I entered to learn more about currencies - so far I've learned you can lose a lot of money fast and that setting stops is both important and frustrating - seems I have a knack for setting them at exactly the right point to get stopped out just as the trade turns and moves in my direction.

Good luck to you. 

Russ

Disclosure:  Long WFC and C.

 

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#2) On October 16, 2011 at 9:22 AM, traderpat9 (74.52) wrote:

thanks russ for your ideas-i also tried the currencies trading. did well for 3/4 days then did some trading at 2am went to bed got up at 7 am & bang $38,800 gone. trading the currencies you almost have to go to bed with your laptop or ipad & set your alarm for every 45 minutes. this week i am going to use my $6,000 daily bonus bucks & try the currencies again. thanks & good luck to you russ & have a great week!!!! pat

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