Million Dollar Portfolio Challenge: Trades of the Day
Nearly 1.2 billion shares and $16 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. The top currency trader has more than doubled his money making over $222,000 since currency trading began. Check out Sue Herrera's currency tips here and for daily currency updates, go to http://www.cnbc.com/id/22618039.
Contest Widely Helds and Actives:
Currency Traders have profited the most from trades in the EUR/USD ,USD/CAD, GBP/JPY
*Euro gains were fueled by a higher than expected increase in German retail sales for May, and a slightly better unemployment rate at 7.8% for June from a previous 7.9%.
**As of late Tuesday, the euro has appreciated about 1.54% against the USD for the past week.
Other top currency trades are in AUD/JPY pairs as contestants are shorting a low-yielding currency such as the Japenese yen for a more high-yielding Australian dollar. This has remained a profitable strategy due to decisions made by the Federal Reserve Bank of Australia to keep rates unchanged at 7.25%, denoting a more stable Australian economy.
Rite Aid edged up as it traded over 89 million shares,beating out Sirius Satellite Radio for the Most Active stock.
Sirius Satellite Radio continues to hold the top spot in the Widely Helds with almost 2.5 billion held shares, and Washington Mutual moved up two spots with about 331 million held shares.
- Industrials continue to represent 30% of the top widely helds followed by Financials at 25%.
Sample of Top Trades in the Leaderboard:
- Clayton Williams Energy if you bought on Monday before 4pET and held/sold on Tuesday, you made 6.48%
- SandRidge Energy if you bought on Monday before 4pET and held/sold on Tuesday, you made 4.77%
Sample of Losing Trades from the Leaderboard:
- UAL Corp. if you bought on Monday before 4pET and held/sold on Tuesday, you lost -11.88%
Olympics Steel if you bought on Monday before 4pET and held/sold on Tuesday, you lost -7.18%
- Bets for today (July 2nd): Dominated by financials:
MGIC Investment Corp
Alliance Resource Partners