Million Dollar Portfolio Challenge Update!

I've just completed about two weeks in the contest. Unfortunately, I haven't taken over any of the leadership positions yet but I'm still working on it. As of the close of the market yesterday, my best portfolio gained $114,069.00 or about 11.4%. Not bad for two weeks work in my opinion but still not good enough to get me in the top 25. I'm currently in the top 6.5% of all players and ranked at 46,305Th. The leader has gained $749,413. -Keep in mind, I started two weeks late- Never less, as you can see, I've got some mad trading to do to catch up. I'm viewing this competition as a marathon and not a sprint. So as long as I keep moving up and don't make any really bad decisions I should be okay. I currently have the following stocks in my portfolio:

1. MA
2. LDK
3. MTZ
4. YZC
5. ETN

Today I'll be adding positions of:

1. CRR
2. WIND

It looks like I'll be losing some ground following the market close today. Many of my holdings have gone down in today's trading.

Wish Me Luck!

CNBC Million Dollar Portfolio Challenge!

Let the Games Begin!

Since I'm confessing to other things I figure now is a good time to confess to one of my other vices. For the longest time, I was addicted to CNBC! You know -As in - I used to watch it religiously at every opportunity. After 3 interventions and successfully completing a 12-step program I was able to ween myself away from my daily fixes. I'm now down to about two or three times a week and shorter spurts. I used to wake up in the morning to Squawk Box and just power through the day. When I was sitting in my office I'd have it on for background noise. Okay, so yes I am exaggerating a bit but you get the point. Anyway, last year, about this time, CNBC announced that they would sponsor a Million Dollar Portfolio Challenge. The competition would allow individuals to trade a fictional portfolio of $1,000,000.00. They advertised and marketed the competition like crazy. So for grins, I signed up. It was a fun. I worked my way gradually up the ladder until I was in the top 3%. And that's when I pulled out all of the stops. In the last two weeks I knew I had to be very aggressive to win. After all, there was to be only one Grand Prize winner and that was going to be me. Needless to say, my aggressive moves didn't pay out and someone else took home the big check. Oh well, I told myself there was always next year.

Well next year is here and Monday I signed up again. The contest is a little different this year. They're allowing each contestant to trade 5 different portfolios. The plan is designed to allow $900,000.00 in stock and $100,000.00 in currency trading. They've had some issues getting the currency trading started. We'll see if they can work out all of the bugs. Nonetheless, I'm off to the races. My poorest performing portfolio is has me in position 508,016th. My best performing portfolio after 3 days has me in the top 14.4% and in game position 96,007th. So only about 96 thousand people to pass and approximately $400,000 in profits are required to catch up with the leader.

The good news is: After I win I plan to have a really big party and invite all of my Blog Friends! So wish me luck and send me your stock tips!

If you want to check it out or even play along..... Follow this link to CNBC -Million Dollar Portfolio Challenge!

Thanks in advance for your support and Good Luck if you decide to play along!