CNBC Game

I'm taking part in a contest on CNBC's web site. Basically it's an investing tournament where the winner gets one million dollars. Actually it's not really one million dollars. Since it's an annuity, it's actually probably around $600,000-$700,000. Still, I'm taking part in it. And it's not really investing as I would really do. I'm mainly going to rotate my entire portfolio from one stock to the next and try to achieve the biggest returns. I'm off to a great start. I bought 219,278 shares of New Century Financial, which is a subprime lender that fell about 70% yesterday. It's up more than 28% today. Two bad things though.

1. I was thinking of buying some for real yesterday. That would have been a nice one day gain.

2. It seems everyone else bought some too, so I haven't seperated myself from everybody else.

I think the first round of the contest goes for ten weeks. There is a weekly winner each week who wins $10,000 and automatically is placed in the final round. It's the person who increases their portfolio by the biggest percentage during the week. They also add at the end of the ten week period the top ten highest people in total portfolio not among the weekly winners. From there, it's a two week sprint to the biggest portfolio size. Should be fun, although the contest is extremely awkward to use properly. If I continue to do well, I'll update every so often how I'm doing.