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Friday, March 23, 2007

CNBC Million Dollar Challenge

It is week #3 of the CNBC Million Dollar Challenge and I have good news. No, I didn't make the top ten, but I have moved up in the standings. Last week I was in the top 86%, this week I made it to the top 41%. My portfolio is now worth $1,028,941.17. If I were playing against the celebrity traders like Johnny Bench, James Cromwell, Judy Gold, Stephen Collins, etc., I would be in the fifth position.

I've gotten a little more aggressive and now buy up to 1000 shares of any particular company. I also sell when a stock goes up two points to lock in a profit. This week, though, I wish I had not sold my Morgan Stanley on Tuesday. I did make a small profit, but on Wednesday, it was up five points and I would have made more. Oh well, at lease I made some profit.

I've even correctly answered the bonus questions once or twice. Correct answers give you either $2,000 or $1,000 to add to your portfolio.

Someone once gave me this advice about the stock market. "You can be a bear, you can be a bull, but you shouldn't be a pig." Good words to live by.

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