Yesterday the ASX closed lower again, making two consecutive days of losses, led by falls in the banking sector. The All Ordinaries closed down 0.62% while the ASX200 index fell 0.64%. The ASX300 index was down 0.66%.
The "Weekly Top 10" list was introduced for the first time yesterday in the "Ranking" feature, listing the top 10 traders in terms of their weekly percentage gain. At the top of the list is 17KeyserSoze, with a remarkable 60.84% gain for the week so far.
In the league table, Dangerous_Dave has taken the lead with a total of $241,996.62 all held in cash by market close. Coming second and third are show me the money and McJames. Next week should be the first week to produce a weekly prize winner, as the top traders approach the required $250,000. To be eligible for the weekly prize, traders must start the week with a minimum of $250,000 (See official rules).
Other impressive results, ransom had a mammoth gain of 12% in the day's trading to reach rank 45. ronchi earned 11.5% to make 60th place and ericakelly produced 11.4% to get to the 61st rank. dleverett jumped an amazing 259 ranks to reach the 206th place. orphic_trader jumped 232 places to 200th rank and Allan Eberle leaped 207 places to 276th.
Out of the top 500 traders, exactly 400 managed to stay in that list by the day's end. Perhaps showing a lack of confidence in the market, 42 (8.4%) of the top 500 traders were holding no stocks at the market close, while another 83 (16.6%) had less than $100,000 invested.
ASX data can be obtained at the ASX website: www.asx.com.au
Contest results can be obtained at CNBC's Trading Matters Challenge website: www.tradingmatterschallenge.com.au
To contact the author of this article, please email Jeff Johnson at tradingmatterschallenge@gmail.com.
Thursday, November 22, 2007
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3 comments:
WTF?
How can this dude, leading the comp as at 8pm Nov 22, have zero in his portfolio? That is, zero holdings and all in cash. Not even one cent of holdings.
Did he sell every one of his shares to the exact cent?
Damn, he must be good to get that good of a fill - for every trade.
Give me a break.
More and more this game sounds like it is rigged. Bad credibility for CNBC. Not a case of sour grapes, just a healthy skepticism.
Might give me an excuse to phone my mate who works for one of Melbourne's big newspapers and get him to look into it.
1 Dangerous_Dave $253,989.51 $0.00 $253,989.51
Actually, thinking about it, yes, if he buys five issues and sells the same five for the same number of units he will have zero in his portfolio.
So, I take back my rant. My bad, as the yanks say. Even if it is improper England to use that phrase.
But I'll still phone my newspaper mate to dig into how Dangerous_Dave turned $100K into $253,989.51. Great interest to us stock market punters, I'm sure.
My mate owes me a beer, anyway.
No worries big al. It looks to me that Dangerous_Dave is a day-trader. With the market being so volatile at the moment, I think it's wise not to take overnight risk.
But all is good when a mate owes you a beer.
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