Nearly 1.42 billion shares and $16.9 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. The top currency trader has more than doubled his money making over $289,000 since currency trading began. Check out Sue Herrera's currency tips here and for daily currency analysis, go to Currency Updates.
Contest Widely Helds and Actives:
- Among the top currency traders, the EUR/USD and GBP/USD pairs continue to be favored. The top currency trader executed over 160 trades prior to the holiday weekend, and continues to be consistent with his scalping strategy.
- The top currency trader currently holds the top 4th position in the overall leader board.
- The currency trader holding the second spot on the leaderboard profited the most by holding on to a long USD/JPY position over the holiday weekend.
- Currency traders willl pay attention to the G8 meeting in Japan, which will be held from July 7 to July 9. Comments from G8 officials on the weakness of the dollar could push the greenback to strenghten.
- Ahead of Thursday's Monetary Policy Meeting by the Bank of England, investors will continue paying attention to the pound sterling following last week's negative data in the service, manufacturing, and construction sectors.
- Ambac Financial and Rite Aid stayed ahead of Sirius in Monday's Contest Most Actives with a volume of 138M and 101M respectively. UAL climbed to the fourth spot, followed by AMR.
Sirius Satellite Radio continues to hold the top spot in the Widely Helds with almost 2.5B shares owned in the contest
Industrials represent 35% of the top Widely Helds followed by Financials at 20%
Sample of Top Trades in the Leaderboard:
- Yahoo if you bought on Thursday before 1pET and held/sold on Monday, you made 11.99%
- Cash America International if you bought on Thursday before 1pET and held/sold on Monday, you made 16.07%
- Hansen Natural if you bought on Thursday before 1pET and held/sold on Monday, you made 12.99%
Sample of Losing Trades from the Leaderboard:
Lehman Brothers if you bought on Thursday before 1pET and held/sold on Monday, you lost -8.80%
Sandridge Energy if you bought on Thursday before 1pET and held/sold on Monday, you lost -6.09%
Bets for today (July 8th): Dominated by Energy
James River Coal
Helen of Troy