CNBC Million Dollar Portfolio Challenge: #107,526

OK, so the graphic may be a little over the top, but at the beginning of the week I was #1047 and now it seems that all there is left for me to do is to have some more fun with the earnings spike potential algorithm.

With 1,598,913 contestants in this crazy contest, I can still stake a claim to the top 7%, but at the rate my portfolio is sinking, my ultimate goal may be to try to scramble back into the top 100,000.

The final damages from yesterday’s ride on OTEX turned out to total a 3.8% loss. For today, I listened to the algorithm for a change and hopped aboard LeapFrog Enterprises (LF). So far this is my best pick of the week…(wait for it)…down a mere 1.6% today.

With the always thin weekend, one has the opportunity to take a flyer on an M&A target (maybe Options Doggy can sniff one out), play for some Dendreon (DNDN) news, or go my standard earnings route. The earnings pickings are slim, but the algorithm generated the top four picks for Monday as follows:

1. Flamel Technologies (FLML)
   
   
2. Delta Petroleum (DPTR)
   
   
3. Cogent Communications Group (CCOI)
   
   
4. Kinross Gold (KGC)

For the record, I think Delta is a fascinating exploration and production play that is a good fit for someone who likes to swing for home runs. I have owned it in my real money portfolio for over a year and have traded around it a great deal too. For what it’s worth, I have also owned and traded Flamel since last October and still like the prospects for this biotech/drug delivery play. Once again, I’m going to follow the recommendation of the algorithm and go with FLML for Monday.

Next week is the final week for the CNBC contest and I intend to finish on a strong note.