Weekly Winner #2 Announced: It's Chuck Chow
First week winner Nancy Beaumont has some company. Chuck Chow is the Week 2 winner with a portfolio gain of 63.794%.
Chuck was conservative the first week buying and holding First Solar on 3/5 at $44.13 and not selling until 3/12 at $57.91 making $309,634.35. However, his gain on FSLR as of the end of week 1 was only half that.
He followed up with an all-in buy on Gymboree on 3/13 at $35.14 and selling out on 3/14 at $38.35 for a gain of $121,000.95. This trade also underlines that almost 30% of the trades that have occurred within the top 25 are in the retail sector.
Chuck's biggest winner, a very popular stock in the contest was the subprime play of Fremont General-- definitely the predominant stock of the first two weeks of the contest. He bought FMT on 3/14 at $6.66 all in and still holds it as of 3/16 where it closed at $8.90 for a gain of $487,901.12.
Fast Facts on Chuck:
Occupation: retired chemical engineer
Invests in the market for personal, not professional, reasons
His strategy for the week was to "go all in on one stock"
If he wins the $1,000,000 the first thing he will do is take a family vacation
The one stock that he picked that surprised him was FSLR
His favorite sport is golf
His favorite TV shows are 24 and Smallville
Chuck's name will be removed from the leaderboard.