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Current DateTime: 01:01:27 08 Sep 2008
LinksList Documentid: 23371764
    • Thailand's SET to Correct?

        Emerging markets investment guru Mark Mobius told CNBC's Asia Squawk Box that he's bullish on Thailand as an investment destination long term. But he's also looking for a 20% to 30% correction in the market. Let's see whether the charts agree.

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Nearly 1.4 billion shares and over $16 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge.  The top currency trader has more than doubled his money making over $295,000 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:

  • In Wednesday's session, contestants made the most in the USD/JPY, EUR/JPY and USD/CAD pairs
  • Contestants lost the most in the NZD/USD, AUD/USD, NZD/JPY pairs
  • US Dollar: Today at 10aET Fed Chairman Bernanke and Treasury Secretary Paulson testify on markets before the House Committee and their commentary often proves market moving for the US dollar.
    • Bullish comments for the dollar would include a focus on rising inflation by Fed Chairman Bernanke and strongly worded comments on US dollar weakness by Treasury Secretary Paulson
    • Bearish comments for the dollar if Fed Chairman Bernanke focuses on risks to growth, mentions recession or comments on the instability of the financial markets
  • EUR/USD [$$EURUSD  Loading...      ()   ] The ECB Monthly Report is due today, and if it has a hawkish tone that focuses on inflation risk, that may indicate a rate hike, it could be very bullish for the euro.
  • GBP/USD [$$GBPUSD  Loading...      ()   ] The Bank of England rate decision is due this  morning, and consensus is that they will leave rate steady.  The decision may be a non-event because the Bank of England doesn’t usually publish comments if the rate is left unchanged, but no rate cut could be bullish for the pound on a short-term basis.

  • Ambac Financial [ABK  Loading...      ()   ] was again the most active stock in the contest by far with over 191M shares traded on Tuesday followed by Sirius (SIRI) at over 66M shares traded

  • AMR [AMR  Loading...      ()   ] & U.S. Airways [LCC  Loading...      ()   ] fell out of the Most Actives, replaced by Ford [F  Loading...      ()   ], which made it into the list for the first time & Washington Mutual [WM  Loading...      ()   ] 

  • Sirius Satellite Radio [SIRI  Loading...      ()   ] continues to hold the top spot in the Widely Helds with over 2.5B shares owned in the contest

  • Industrials continue to represent 35% of the top Widely Helds

Sample of Top Trades in the Leaderboard:

  • Oilsands Quest [BQI  Loading...      ()   ] if you bought on Tuesday before 4pET and held/sold on Wednesday, you made 6.03%

  • James River Coal [JRCC  Loading...      ()   ] if you bought on Tuesday before 4pET and held/sold on Wednesday, you made 5.75%


Sample of Losing Trades from the Leaderboard: 

  • Freddie Mac [FRE  Loading...      ()   ] if you bought on Tuesday before 4pET and held/sold on Wednesday, you lost -23.77%

  • Fannie Mae [FNM  Loading...      ()   ] if you bought on Tuesday before 4pET and held/sold on Wednesday, you lost -7.51%


Bets for Today (July 9th):

  • AMR  [AMR  Loading...      ()   ]

  • Northwest Airlines [NWA  Loading...      ()   ]

  • Yamana Gold  [AUY  Loading...      ()   ]

  • Barrick Gold [ABX  Loading...      ()   ]

  • Newmont Mining [NEM  Loading...      ()   ]

  • Johnson and Johnson [JNJ  Loading...      ()   ]

  • Procter & Gamble [PG  Loading...      ()   ]

  • Agrium [AGU  Loading...      ()   ]

  • The Mosaic  [MOS  Loading...      ()   ]

It's not too late to get started.  You can still get in the game to win the grand prize or one of these great weekly prizes.
Click here to play.

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