First, congrats to Corky on an outstanding run she’s put together. She has a few portfolios that have done very well, including one that had reached higher than 400th place. That’s simply outstanding out of 750,000 portfolios total. With just over a week to go, she still has a shot. Anybody else?
For those who don’t know, CNBC offers an annual contest with a boatload of prize money. This year it’s a 10-week game with the winner getting a $500,000 prize, and the next five finishers taking home $50,000 and up. Each entrant gets five portfolios.
One of my portfolios began doing quite well from the start, then just kept on going. A simple portfolio, just four coal stocks. Well, about three weeks in, I hit the leaderboard in 24th place. Once I peeled myself off the ceiling, I kept watching things continue up from there. A few days later I landed in a money position, 6th place. I ended up bouncing around between 6th and 2nd place for the next 3-4 weeks. With ¾ of a million other portfolios out there, I knew this was a once-in-a-lifetime opportunity.
So what to do? Stick with the strategy that got me there? Or take profits and get off before it hits a brick wall? I decided to keep riding the wave. After all, there were only about two more weeks to go, and the signs looked positive. And then it crashed. Last Wednesday, coal stocks suddenly fell 15-20%, out of nowhere. I emerged in about 200th place with a ton of real estate between the leaderboard and me.
I’m holding out for a coal rebound, and so far it’s taken me back to 67th place with seven sessions to go. It’s still possible to get back in the race with a good run. There’s still a chance. Either way, it’s been a real thrill. (Though WSS is still a better game!)
Thanks, Survivors, for sending any good vibes my way. I could really use it! And go Corky!