CNBC Contest First Week

I'm still doing pretty well in the CNBC contest but my position has slipped some recently. At the close of trading I was in 7,436th place which is in the top 3% overall. I'll probably be going down some though because I have all my money in Meritage Homes and it's down 6% today with all the subprime meltdown. Speaking of which, good thing I sold NEW after a one day gain of 10%. Since then it has entered the liquidity crisis death spiral and bankruptcy is starting to look inevitable. It was delisted today. And to think I nearly bought it for my actual portfolio. That would have been a big mistake. Here's what has happened to New Century Financial's stock price since the start of the year

Jan 1: $31.59
Jan 11: $32.06
Feb 7: $30.16
Feb 12: $17.21
Mar 2: $14.65
Mar 5: $4.56
Today: $1.19

That's a loss of about $1.6 billion dollars in a little over a month. Looks pretty bleak. But yeah good thing I took the quick gain in the game and kept my real money out of this. New Century may become synonymous with Enron when it's all said and done. Should be interesting to watch.