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Friday, April 20, 2007

CNBC MILLION DOLLAR CHALLENGE

It's Friday and that means it's time for my report on week #7. Wall Street has been very, very good to me.

I'm pleased to report that I surpassed last week's goal of the top 18% and total value of $1,073,400.75. I am now in the top 13% with a value of $1,099,451.35. If I were playing with the celebrities, I would rank at #4.

I've taken some profits today, maybe prematurely. But, I have locked in the profit and if I can keep answering the bonus bucks questions, my value will increase. Someone once told me, "You can be a bear, you can be a bull, but you should never be a pig".

My goal is to hold a stock for an increase of two points, then sell and take the profit. There are many companies I have sold for a profit, and they are still climbing. Sometimes I wish I had not sold, but, at least I made a profit.

I have a fair amount of available cash, so my new goal is to finish next week in the top 10% with a total value of $1,125,435.75. If the Dow keeps its momentum from this week, I'll be able to. I know it's due for a correction, but I hope it's not too much.

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