Let’s take a look at how the 32 starting teams fared after the first week of the Super Stock Pick Tournament. (The percentages you see are based on the one-week performance of each of the five stocks on the team. I add up the percent changes, but I don’t divide by five because then the numbers wouldn’t look as impressive. After all, what’s a tournament bracket without big numbers?)

It looks like the market was mostly up last week as only three teams finished down. As should be expected, the Spam Picks team composed of stocks chosen from e-mail solicitations took the biggest hit, closing down more than 73% and allowing the Vanguard VIPERs a free pass to the second round.

My wife’s picks were also down this week, due mostly to a sad performance by Revlon (REV). As a result, my own picks, up a little over 7%, move on to the Sweet Sixteen.

The closest contest last week was between the Vowels and the Planeteers, both up over 11%; but the Vowels came out on top by less than half a percent.

A few other noteworthy performances:

• Reader’s Picks were up almost 5%, making the Random AMEX selection the only one of the three market random picks teams not moving on to Round Two. Random NYSE and Random NASDAQ will face each other this week.
• The 1-Day Downgrades–five stocks labeled for bad performance–hammered the 1-Day Upgrades by almost a two-to-one margin, gaining over 50%–the most of all teams this week–thanks mostly to the strong showing by Sunterra (SNRR).
• Other strong performances included the automotive team of Car Wars (up almost 30%), CNBC‘s stock recommendations (up 41%), and BlogsOnTrading.com‘s picks (up 27%). Coming in second for biggest gain this week: the Cool Tickers team, soaring nearly 45%.

The battle for the Super Stock Pick Tournament crown is heating up. What will the market hold for these teams in coming days? Check back for Round Two’s results next week; hopefully there will still be lots of green up arrows all around like last week!