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CNBC Million Dollar Portfolio Challenge - Thursday, Week 8

[Scroll to the bottom for answers to today's Bonus Bucks trivia questions.]

Watch this space for today's updates, picks, and reallocation methodology.

Hideousness returned to Wall Street yesterday to ruin everyone's day once again.  Everyone except for a few of our intrepid readers, that is, who managed to add to their early week gains and maintain their spots atop the leaderboard.  For Week 8 (which, remember, ends today), we've got at least two fearless traders still on the board - Bill Bilkey in 2nd place with 17.9% and Fred Green in 7th place with 17.0%.

Today, Bill's in the oil basket and Fred's in the airline basket, so whichever way oil prices thrash (so long as they thrash big), one of them will have a very nice shot at the weekly prize.  Of course Steve Bournazos also has the luxury of playing negatively correlated portfolios, but the smart money's on our guys.

Go get em, fellas. Bring home that weekend of hanging out with a stranger in a Bentley!

We'll put up some picks for the first day of Week 9 (with a seat at the World Series of Poker on the line) today between 11:00 and 12:00 pm ET.  Remember that because of the holiday, your first allocations need to be set today to count for Monday of Week 9.

And since the market closes early at 1 pm today, it's possible that any trades made after that time won't get booked until Monday's closing bell.  The rules specify a trade cutoff 4 pm (not the closing bell) and they explicitly state that, "Each week will end at 4:00:00PM on Friday, other than Week Eight, which will end at 4:00:00PM on Thursday."  But I wouldn't risk it.

Update:  From CNBC:

REMINDER: In observance of Independence Day, equity and currency trading for week 8 will end today, July 3rd at 1:00pm ET. Currency trading for week 9 will begin on Sunday, July 6th at 5:15 pm ET. Equity trading for week 9 will begin on Monday, July 7th at 9:30am ET.

Not so much a "reminder" as it is a last-minute change in the rules, but there it is.  Make sure to book your first Week 9 trades by 1 pm ET.

Update:  This is going to be a very easy reallocation.  The only eligible earnings reporter between today and Monday's open is Brazilian pulpmonger Aracruz Celulose (ARA).  So for our participating portfolios, we'll stay split into airlines and oil stocks, but replace WDFC with ARA.

If you're joining us for the first time in Week 9, that means you're invited to establish the following allocation(s), according to the first letter of your last name, as follows:

• A-F: CAL, UAUA, AMR, DAL
• G-L: CLR, CHK, GMXR, GDP
• M-S: CAL, UAUA, AMR, ARA
• T-Z: CLR, CHK, GMXR, ARA

Important:  If you're using more than one portfolio for this project, kindly allocate the first portfolio according to the surname initial scheme, the next portfolio to the allocation directly beneath it, and so on, until you've reallocated all participating portfolios.

For example: If your last name is Varnsen, and you're using 3 portfolios, your allocations would be:

• T-Z: CLR, CHK, GMXR, ARA 
• A-F: CAL, UAUA, AMR, DAL
• G-L: CLR, CHK, GMXR, GDP

Make all trades by 1 pm!

And if you're arriving here after 1 pm and missed the chance to make your reallocation in time, I'd go ahead and submit the trades anyway, then email CNBC to gripe about the sudden switch, noting the relevant passages from the rules:

Participants can enter equity trades seven days per week, at any time except during the period each day, if any, when maintenance is being performed on the Site; provided, however, that trades will only be priced and executed as of 4:00:00 PM on market trading days.
...
Each week will end at 4:00:00PM on Friday, other than Week Eight, which will end at 4:00:00PM on Thursday.

Update:  Looks like the airline basket (with the WDFC kicker) fared best, gaining around 2.5% including bonus bucks.  That ought to put Fred Green over 19% once the system updates.  Will it be enough?  Can bear the suspense?

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 8:  Monday, Tuesday, Wednesday, Thursday
Week 7:  Monday, Tuesday, Wednesday, Thursday, Friday
Week 6:  Monday, Tuesday, Wednesday, Thursday, Friday
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

To receive additional updates by e-mail, drop a line here with the word "Subscribe" in the subject header.

---

Thursday July 3rd

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.

Daily Trivia:

Squawk Box:  "Question:  On July 2, strategist John Carter told CNBC he sees the Dow below 10,000. Where did he suggest putting your money?"

    Answer:  Both

Squawk On the Street:  "Question: According to "Warren Buffett Watch," the bear market bit Berkshire Hathaway. What was its Tuesday closing price?"

   Answer:  $120,100

The Call:  "Question: In Darren Rovell's post on Nike's "Air McFlys," what Back to the Future "science" term did he quote?"

   Answer:  All of the above

Power Lunch:  "Question: According to the Fast Money Trade School article, "All Or Nothing Options", who is expected to trade binaries?"

   Answer: All of the above

Street Signs:  2:00 pm
Closing Bell:  3:00 pm

The site now reads: Questions unavailable. Please check back later.

Presumably another half trading day issue.  I'll update with the answers to the Street Signs and Closing Bell questions, if and when they appear.

Update: In the comments, Diane points out the following note that has popped up on the contest home page:

JULY 3rd BONUS BUCKS UPDATE: Due to the July 3rd early market close, all contestants will receive a total of $12,000 bonus bucks for all July 3rd trivia questions and $2,000 Bonus Bucks for the week 8 weekly quiz. Enjoy your holiday!

Comments

CNBC Million Dollar Portfolio Challenge - Thursday, Week 8

[Scroll to the bottom for answers to today's Bonus Bucks trivia questions.]

Watch this space for today's updates, picks, and reallocation methodology.

Hideousness returned to Wall Street yesterday to ruin everyone's day once again.  Everyone except for a few of our intrepid readers, that is, who managed to add to their early week gains and maintain their spots atop the leaderboard.  For Week 8 (which, remember, ends today), we've got at least two fearless traders still on the board - Bill Bilkey in 2nd place with 17.9% and Fred Green in 7th place with 17.0%.

Today, Bill's in the oil basket and Fred's in the airline basket, so whichever way oil prices thrash (so long as they thrash big), one of them will have a very nice shot at the weekly prize.  Of course Steve Bournazos also has the luxury of playing negatively correlated portfolios, but the smart money's on our guys.

Go get em, fellas. Bring home that weekend of hanging out with a stranger in a Bentley!

We'll put up some picks for the first day of Week 9 (with a seat at the World Series of Poker on the line) today between 11:00 and 12:00 pm ET.  Remember that because of the holiday, your first allocations need to be set today to count for Monday of Week 9.

And since the market closes early at 1 pm today, it's possible that any trades made after that time won't get booked until Monday's closing bell.  The rules specify a trade cutoff 4 pm (not the closing bell) and they explicitly state that, "Each week will end at 4:00:00PM on Friday, other than Week Eight, which will end at 4:00:00PM on Thursday."  But I wouldn't risk it.

Update:  From CNBC:

REMINDER: In observance of Independence Day, equity and currency trading for week 8 will end today, July 3rd at 1:00pm ET. Currency trading for week 9 will begin on Sunday, July 6th at 5:15 pm ET. Equity trading for week 9 will begin on Monday, July 7th at 9:30am ET.

Not so much a "reminder" as it is a last-minute change in the rules, but there it is.  Make sure to book your first Week 9 trades by 1 pm ET.

Update:  This is going to be a very easy reallocation.  The only eligible earnings reporter between today and Monday's open is Brazilian pulpmonger Aracruz Celulose (ARA).  So for our participating portfolios, we'll stay split into airlines and oil stocks, but replace WDFC with ARA.

If you're joining us for the first time in Week 9, that means you're invited to establish the following allocation(s), according to the first letter of your last name, as follows:

• A-F: CAL, UAUA, AMR, DAL
• G-L: CLR, CHK, GMXR, GDP
• M-S: CAL, UAUA, AMR, ARA
• T-Z: CLR, CHK, GMXR, ARA

Important:  If you're using more than one portfolio for this project, kindly allocate the first portfolio according to the surname initial scheme, the next portfolio to the allocation directly beneath it, and so on, until you've reallocated all participating portfolios.

For example: If your last name is Varnsen, and you're using 3 portfolios, your allocations would be:

• T-Z: CLR, CHK, GMXR, ARA 
• A-F: CAL, UAUA, AMR, DAL
• G-L: CLR, CHK, GMXR, GDP

Make all trades by 1 pm!

And if you're arriving here after 1 pm and missed the chance to make your reallocation in time, I'd go ahead and submit the trades anyway, then email CNBC to gripe about the sudden switch, noting the relevant passages from the rules:

Participants can enter equity trades seven days per week, at any time except during the period each day, if any, when maintenance is being performed on the Site; provided, however, that trades will only be priced and executed as of 4:00:00 PM on market trading days.
...
Each week will end at 4:00:00PM on Friday, other than Week Eight, which will end at 4:00:00PM on Thursday.

Update:  Looks like the airline basket (with the WDFC kicker) fared best, gaining around 2.5% including bonus bucks.  That ought to put Fred Green over 19% once the system updates.  Will it be enough?  Can bear the suspense?

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 8:  Monday, Tuesday, Wednesday, Thursday
Week 7:  Monday, Tuesday, Wednesday, Thursday, Friday
Week 6:  Monday, Tuesday, Wednesday, Thursday, Friday
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

To receive additional updates by e-mail, drop a line here with the word "Subscribe" in the subject header.

---

Thursday July 3rd

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.

Daily Trivia:

Squawk Box:  "Question:  On July 2, strategist John Carter told CNBC he sees the Dow below 10,000. Where did he suggest putting your money?"

    Answer:  Both

Squawk On the Street:  "Question: According to "Warren Buffett Watch," the bear market bit Berkshire Hathaway. What was its Tuesday closing price?"

   Answer:  $120,100

The Call:  "Question: In Darren Rovell's post on Nike's "Air McFlys," what Back to the Future "science" term did he quote?"

   Answer:  All of the above

Power Lunch:  "Question: According to the Fast Money Trade School article, "All Or Nothing Options", who is expected to trade binaries?"

   Answer: All of the above

Street Signs:  2:00 pm
Closing Bell:  3:00 pm

The site now reads: Questions unavailable. Please check back later.

Presumably another half trading day issue.  I'll update with the answers to the Street Signs and Closing Bell questions, if and when they appear.

Update: In the comments, Diane points out the following note that has popped up on the contest home page:

JULY 3rd BONUS BUCKS UPDATE: Due to the July 3rd early market close, all contestants will receive a total of $12,000 bonus bucks for all July 3rd trivia questions and $2,000 Bonus Bucks for the week 8 weekly quiz. Enjoy your holiday!