Million Dollar Portfolio Challenge: Trades of the Day
Nearly 2.2 billion shares and $45 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. 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 1.23 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. National City was the new financial added to the widely helds as of Monday, but it didn't do much for our contestants as it closed down about 0.68%. 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
- Western Refining, - If you bought on Monday before 4pET and held/sold on Tuesday, you made 7.07%.
- Cheniere Energy - If you bought on Monday before 4pET and held/sold on Tuesday, you made 5.45%
- Canadian Solar - If you bought on Monday before 4pET and held/sold on Tuesday, you made 4.74%.
Sample of Losing Trades from the Leaderboard:
- MF Global - If you bought on bought on Monday before 4pET and held/sold on Tuesday, you lost - 6.21%
Bets being made for today (May 21): Dominated by alternative energy plays
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