WeTrader Competition: Round Two Wrap-up

Friday, October 18’s market close marks the end of the second round of the WeTrader Paper Trading Competition, hosted by the zero-commission trading platform Webull.

For those in the dark, the WeTrader Competition offers traders the chance to build their best-performing portfolio with $100,000 in simulated capital every week until the closing bell on November 1. The top 10 performing portfolios each week will receive an Amazon.com, Inc. AMZN gift card valued between $100 for tenth place all the way up to $5000 for the first-place portfolio.

Successful traders will also contribute toward a donation to Shriners Hospitals for Children of up to $50,000.

Finally, the top ten winners from each of the four weekly rounds will also be entered into the final championship round in which they will compete for the chance to win either a $40,000 student loan payment or a Tesla Inc. TSLA Model 3.

Account Returns

This second round of the competition drew in 3,689 participants and saw the paper traders post roughly $1.6M in simulated profit, raising an additional $1,646 for the Shriners Hospitals for Children. The total donation amount for the competition now sits at $3346.

Individually, the top ten participants generated between 14.98% and 24.60% in profits, almost 60% higher than the contestants' performance last week.

Market Update

The major indexes each finished the week up this week between 0.1% and 0.8%.

Despite the modest performance of the broad market, the competitors’ managed to find profitability thanks to the start of earnings season this week.

Results from the major banks were mixed on the quarter, with Bank of America Corp. BAC and JPMorgan Chase & Co. BAC offering strong numbers while the figures from Wells Fargo & Company WFC and Goldman Sachs Group, Inc. GS were less than stellar.

Other big reports from the week included FANG component Netflix Inc. NFLX, which popped on a bottom-line beat but has since traded lower thanks to another quarter of disappointing subscriber numbers, and healthcare sector names like UnitedHealth Group Incorporated UNH and Johnson & Johnson JNJ, which both surprised on the upside with impressive bottom-line numbers.

The Next Round

The next round begins at market open on Monday, October 21 and runs through Friday, October 25. There are so far 4192 participants signed up for the third round.

On the economic data front, competitors can look forward to September's new-home sales data from the National Association of Homebuilders will be on tap for Tuesday, while the National Association of Realtors will deliver the month’s existing-home sales data. Apart from that, The U.S. Census Bureau will report September durable goods sales on Thursday as well.

As for earnings, next week looks to be jam-packed. Logitech International S.A. LOGI TD Ameritrade Holding Corporation AMTD and SAP SE SAP all report Monday. Tuesday will see numbers from United Parcel Service, Inc. UPS, Lockheed Martin Corporation LMT, McDonald's Corporation MCD.

More tech and industrial earnings are slated for Wednesday from the likes of Microsoft Corporation MSFT Tesla Inc. TSLA and The Boeing Company BA. On Thursday is Visa Inc. V Intel Corporation INTC and Amazon.com, Inc. AMZN. Finally, Anheuser-Busch InBev SA/NV BUD Verizon Communications Inc. VZ round out the week.

Of course, if you have a winning strategy around any of these announcements, it's not too late to sign up and enter the fray.

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