Million Dollar Portfolio Challenge: Trades of the Day
Nearly 3.2 billion shares traded yesterday in CNBC's Million Dollar Portfolio Challenge. Portfolio values are now up to a combined $67 billion. Here are the bets being made today...
The most widely held stock today remains Sirius as contestants continue to buy on hopes of news of the pending merger with XM , with over 1.13 Billion shares held, dwarfing the next widely held, E*Trade by over 800M shares
Financials continue to shore up their position taking over 30% of the top widely helds, followed by Information Technology and Consumer Discretionary both at 15% of the widely helds. Contestants are still betting that the volatility and beaten down prices in the Financial sector will work in their favor for large percentage gains. Note: The Financials are the worst performing sector in 2008 down almost 11% YTD.
Sample of Top Trades in the Leaderboard: Dominated by alternative energy and solar companies
- Solarfun continues to be a top trade and holding in the Leaderboard assuming contestants are waiting on Solarfun's earnings due out Wed before the bell; if you bought on Friday before 4pET and held/sold on Monday, you made 10.25%.
*Some of our leaders have held Solarfun since the beginning of the contest. SOLF is up 68.54% since May 12.
- Canadian Superior Energy reported earnings last week. If you bought SNG on Friday before 4pET and held/sold on Monday, you made 5.88%
- LDK Solar if you bought on Friday before 4pET and held/sold on Monday, you made 7.47%
Sample of Losing Trades from the Leaderboard:
- First Solar one of the biggest losers in solar today - if you bought on bought on Friday before 4pET and held/sold on Monday, you lost -4.90%
- MEMC Electronic Materials - if you bought on bought on Friday before 4pET and held/sold on Monday, you lost -4.43%
- Volcom - if you bought on Friday before 4pET and held/sold on Monday, you lost -2.79%
Bets being made for today (May 20): Dominated by alternative energy plays
- The9 Ltd
- Dycom Industries
- MF Global
- Suntech Power
- Evergreen Solar
- Canadian Solar
- JA Solar
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