CNBC Million Dollar Portfolio Challenge

The CNBC Million Dollar Portfolio Challenge begins tomorrow and just for grins, I've entered. In order to participate in the Challenge, I've created a couple of strategies that should cut down the time necessary for trading...still need to be able to work and pay the bills.

First of all, I'll be trading currencies and stocks...with an emphasis on the currencies. The daily and hourly time frames will be used for the currency trades because the slightly longer time frames (I usually use 1-5-30 min) will allow me to enter trades and then not check on them for at least several hours and maybe even a couple of days.

As for the stocks, I'll be using a short screen that I've developed in order to generate a list of potential shorts. I use MSN's Deluxe Screener...the most powerful free screener available on the web (at least that I know of). Here's a screen shot of the screener and the list that it generated for today (Nov. 16). I will most likely create a portfolio of shorts and update it once a week...not even going to try to make long trades right now, it's just not worth the effort. I'll post some routine updates to let you know how the challenge is going and I'll also update the short screener next weekend and post the results for those interested. Good luck to my friends and everyone else that is also in the challenge.

Good luck out there.

TLT

***UPDATE***

The portfolio challenge does not allow short selling! Unbelievable, you can trade currency but you can't short stocks. Never mind my wonderful short screen strategy...instead I loaded up a portfolio with leveraged short ETFs.