CNBC's 10 week trading contest $1,000,000

[Uncle Max]

No entry fee, no downside other than a serious reality check.

Last years winner put up returns of 400% in about eight weeks.

There are certain restaints regarding the trading rules (you can only go long, no margin, and stocks must have market cap of $500M by 3/2/07), but as the Frog in Geico commercial eloquently states, If someone offered you the chance at $1,000,000 with no risk, would you say No thanks, I dont like the rules???

http://contests.cnbc.com/milliondollar/main.do

 

[Eddie]

Put a reference on me so you can get your referral fee, Max.
I'm in.

 

[Uncle Max]

I'm not going to collect references I don't think additional 2-3K will make a difference while betting $1 mil aiming at a 400% return

 

[Andy Nguyen]

I'm in too. Just another chance to earn positive return with no monetary investment. This is why they call America is the land of opportunity. \\:D/
Thanks, Max. [also clicked Thanks]

 

[Uncle Max]

Here is a story of last year's winner:

Ko and the other contestants started in early April with a virtual $1 million portfolio. Ko's portfolio was worth about $2 million when he put the entire amount on Escala Group (ESCL, news, msgs). The stock had had hit a 12-month high of $35 in February but fell precipitously after Spanish prosecutors declared its majority shareholder and only major customer -- Afinsa Bienes Tangibles -- insolvent after raiding the company's offices in an investigation into a stamp-investment program. He bought near the bottom, around $4, and his portfolio surged as Escala rapidly recovered.

He ended the contest with $5 million -- a 400% gain.

Full story at: http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd15/P2/Strategy.aspx

 

[Andy Nguyen]

He bought near the bottom, around $4, and his portfolio surged as Escala rapidly recovered.

Wow, a classic case of "buy low, sell high". I should look for some stocks that at the bottom now and pray that it rebounds when the competition ends.

Anyone knows any pending lawsuit ?

 

[Eddie]

We no longer have a delete option of our posts?

 

[Uncle Max]

Wow, a classic case of "buy low, sell high". I should look for some stocks that at the bottom now and pray that it rebounds when the competition ends.

Anyone knows any pending lawsuit ?

First one to go (suggested by Curt Ward as an example):

New Century Financial Corp. NEW

Was traded more than $50 per share last May, $30 per share this February;
As for now it's: $3.21 per share.

Good luck!