Daily Review 26th Nov

Breaking a streak of losses, the ASX gained yesterday, led by firmer commodities and the RIO takeover bid. Both the All Ordinaries and the ASX200 index ended the day 2.2% stronger. The ASX300 index gained 2.1%.

We started the week with a new "Weekly Top 10" group, currently lead by simplysimplesales, with a gain of 41.44% for the week so far. In second and third place are cyben with a total gain of 36.48% and nkup at 25.13%.

In the league table, Dangerous_Dave holds the lead with a total of $315,565.16 with more than half of still invested in stocks by market close. Now more than $40,000 below the leader is the second place holder McJames followed by show me the money and dsaw. These top four players are the only traders to have begun the week with the minimum $250,000 required for weekly prize eligibility. To be eligible for the weekly prize, and a place in the finals, traders must start the week with a minimum of $250,000 (see official rules).

In the high earners, danr had a mammoth gain of 19.0% in the day's trading to reach rank 17. wuppertal turned over 11.4% to make 38th place and Banksia also earned 11.4% to reach 103rd place.

In the rank movers, Banksia flew past 283 traders to reach the 103rd place. killingangel jumped 246 places to 253rd rank and Gomer leaped 238 places to 242nd.

Of the top 500 traders, 427 managed to stay in that list by the day's end. Of the newcomers to the list, Mrdirect jumped to rank 73, johnny jumped to rank 82 and nkup made it to rank 85.

Traders showed faith in more market gains yesterday with more traders willing to hold positions overnight. Only 19 (3.8%) of the top 500 traders were completely out of the market before the close, while another 68 (13.6%) players had less than $100,000 invested.

Also yesterday, the biggest group of traders sharing the same rank was reduced to 13. Each of these traders is now holding $210,000 and shares the 298th rank. That amount also happens to be the maximum amount reachable without making any trades in the competition so far.

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 leave a comment or email Jeff Johnson at tradingmatterschallenge@gmail.com.