CNBC Challengeby RaginCajun on May 16th, 2008 at 11:30 am |
Can it make you money?
Earlier this week I almost took a position in (BBI: 0.98 0.00%) for two reasons. First, Notable calls had a good note on it. Second, CNBC was claiming it was the most widely held name in their challenge. After reading the second reason, one might think this is absurd, but I remember a lot of names running in correlation with CNBC’s game.
I was hesitant to take a position in BBI and missed the small run it had. However, earlier today CNBC mentioned (SOLF: 2.68 0.00%) was a widely held name. This time I said, “What the hell, let me take some down.” Sure enough a few minutes later, I was up a quick buck.
This probably means nothing, it might just be because everything I touch turns to gold, but it is something I will monitor. I may put the most widely held names on the screener just to see if I notice anything.
Update: Make that $2 bucks on (SOLF: 2.68 0.00%)
Rich people with gambling tendancies and big egos want to win this for the pride… They will try to manipulate prices.
May 16th, 2008 at 11:56 amAt least that’s a theory
Ant & Sons is using SOLF and ETFC in their CNBC portfolio … I on the other hand was looking at CSUN and instead went with ESLR …. Doh!
A & S is ranked #3027 and I am right behind at #3144 with my Short Oil Plays but getting the homo-hammer today.
http://www.antandsons.com/wordonthestreet/
$1.095M
Total Portfolio Value*Top 0.5%
Game Rank*3144th
Game Rank Position*-12,721 (-1.2%)
Gain/Loss, Intraday94,529 (9.5%)
Gain/Loss, Weekly*94,529 (9.5%)
Gain/Loss, Overall**As of 5/15/08 at 4pm EST.
AMRAMR Corp$9.16$193,571-6,76221,132.220%CCLCarnival Corp$39.62$96,252-1,8032,429.510%VLOValero Energy Corp$47.68$138,6911162,908.814%WLKWestlake Chemical Corp$16.99$141,714-2,4198,341.014%YRCWYRC Worldwide Inc$18.52$143,029-2,3177,723.015%SOASolutia Inc$12.91$149,63946411,590.915%
ESTRank Name Portfolio Value
1 Thirumurugan Chandrahasan $1,249,498.59
2 mien hoang $1,230,379.51
3 James Fox $1,227,446.78
4 Bunthen Vin $1,219,290.44
5 Bryan Phillips $1,214,025.11
I thought about closing out this position but there is more upside reward if oil drops here than if it goes to $140 … I’m way behind the leader board so this week is over and it’s just a matter of preservation of capital going forward but I will stand pat with these stocks for now.
May 16th, 2008 at 12:39 pmFinally sold DRYS… still long TBSI
May 16th, 2008 at 1:01 pmNice win Hattery
May 16th, 2008 at 1:01 pmThanks, might look at DRYS again if it flags near new highs… now I gotta figure out what to do with this extra cash
May 16th, 2008 at 1:04 pmI think someone (I think “lol) pointed out on the comments somewhere that he likes CAKE for a straddle.. looks pretty good, think I’ll look for more neutral positions and straddles right now being as the market is approaching the pyschological dow 13000, although wouldn’t be surprised to see a break on good volume.
May 16th, 2008 at 1:23 pm