Mar

06

2007

CNBC Stock Market Challenge

Comment:

I just went and did something unusual. I just entered the $1,000,000 challenge on CNBC. So now you have got to help me win. If I win, I will sign up for a lifetime membership with Self-Investors.

My Response:

Great! - people who win these things put all their eggs in one basket on highly volatile, bigger reward trades… much like the quick strike profit plays i highlight in the Stock Watch reports.  I’d say if you stick to the following you got as decent a shot as anyone!

1. stick to no more than a few stocks for your entire portfolio
2. buy stocks under 10/share, preferably under 5
3. pray that one or two of them double in price over the next couple months

With such a short time frame, this contest is about 20% luck and 80% skill.  But hey, you’re odds of winning a million dollars here are a heckuva lot better than buying a lotto ticket.. and it doesn’t cost anything.   Good luck!