CNBC Million Dollar Portfolio Challenge - Thursday, Week 6
[Scroll down for answers to today's Bonus Bucks trivia questions.]
Watch this space for today's updates, picks, and reallocation methodology. [See updates below]
In the mean time, let's take a quick poll on the June Business Outlook Survey, due out from the Philly Fed at 10 am. The index, which measures business sentiment among manufacturers, increased from -24.9 to -15.6 last month. Economists expect it to rise again, to an estimated -10.0, which would be the highest reading this year
What's your prediction?
Update [10:00]: Wa-waa.
The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased slightly, from -15.6 in May to -17.1 this month.
Looks like the pessimists (25% of you) were right.
Update [10:45]: Onto the business at hand. Anyone with Pier One (PIR) is yesterday's allocation is getting murdered today, as the retailer posted a quarterly loss 2/3 larger than Wall Street expected. It looks like we may only have 1 or 2 groups (out of yesterday's 6) who wind up adding to their gains today, but there's only one reallocation left in this
atrocious challenging week anyway, so everyone's scores get reset tomorrow (for purposes of the weekly prizes, anyway).
Alas, there aren't any contest-eligible stocks reporting earnings after today's close or before tomorrow's open anyway. So for those of you with PIR-less portfolios, let's just split them down the middle and go all in with our airline and oil baskets.
Tomorrow is a quadruple witching day, so it could be a volatile one. And no matter which way it shakes out, one of these groups ought to do quite nicely, while the other equally suffers (which - it can't hurt to repeat - is how the crowdsourced strategy is supposed to work).
Last Friday, the boys got the oil and the girls got the airlines, so this week, let's switch it up.
Of course, if you're using more than one portfolio, you get to play both. Just split your participating portfolios evenly between the two allocations, with any tie going to your gender. Make sure to enter all trades by 4 pm (Eastern) today.
Update [2:30]: Indeed, it's looking like 2 of yesterday's 6 groups will enjoy net gains today, with the best performing group being #6 (CCL, PRGS, DVN, IHS), which is looking at a respectable intraday gain of 2.4% (3.4% including bonus bucks).
Consider all of the above to be for entertainment purposes and not meant to be used as real-world investment recommendations. The goals and strategies of the Portfolio Challenge are not to be confused with those of sensible investing.
See all related posts in the CNBC Portfolio Challenge archive:
- Week 6: Monday, Tuesday, Wednesday, Thursday
- Week 5: Monday, Tuesday, Wednesday, Thursday, Friday
- Week 4: Monday, Tuesday, Wednesday, Thursday, Friday
- Week 3: Monday, Tuesday, Wednesday, Thursday, Friday
- Week 2: Monday, Tuesday, Wednesday, Thursday, Friday
- Week 1: Monday, Tuesday, Wednesday, Thursday, Friday
- Week 0: Pre-game
- A New Fly In the Ointment
- Currency Trading Resumes
- More Technical Difficulties
- Prize Poll
- The Airing Of Grievances
- Technical Difficulties, Orders Cancelled
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Thursday June 19th
Throughout the contest, each day's answers will be at the top of the CNBC Portfolio Challenge archive as soon as the questions are published, so bookmark accordingly.
Squawk Box: "Question: CNBC.com managing editor Allen Wastler enjoys a stogie in his byline photo. What brand of cigar?"
Answer: Cuvee Blanc Churchil
Squawk On the Street: "Question: In "Health Care Stocks: Schwab's Rx" why did Paul Alan Davis praise Express Scripts?"
Answer: It's "part of the solution"
The Call: "Question: In the story, "Crude? So What? These Characters Still Find Work in Ads", which figure is called a "contemporary...icon"?"
Answer: Stewie the baby
Power Lunch: "Question: In "Energy Plays: How to Profit From the Oil-Price Boom" Jordan Kimmel offered his "excellent" stock picks. Name one."
Street Signs: "Question: Web video hunt: In "LeFrak's Stock Picks," Richard LeFrak joked that FedEx should shift from what to what?"
Answer: Airplanes to smart cars
Closing Bell: "Question: In Fast Money's "Web Extra: Nat Gas Plummet?" the traders also discussed solar energy. The following stock(s) were mentioned:"
Handcrafted by Flip on June 19, 2008 |
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