Daily Status 2008-01-22
Account Value $779.12
Money $29.12
Securities $750.00
As of 2008-01-22 at 6PM Pacific
Wow! The Fed cuts rates! Cut 75 basis points. That’s a huge chunk. That brought the Dow back from about -465 points to -128.11 points. Question is — is this a good sign or a bad sign?
The markets are responding by rallying after being pummeled today. However, what will happen tomorrow? Is this just a temporary rally? Gotta wait and see. There are still people weary of how the market will react. Currently, the global markets are recovering a bit.
In other news, Apple (AAPL) announced earnings and did pretty well… but the stock got hammered after it told Wall Street it’s cautious outlook.
Under Armour (UA) rallied along with other retail stocks. The UA call options rose more than 60% today to cover the initial lost and brought the portfolio closer to it’s short term target — back to breakeven. I’ve set a stop loss on the options to make sure I can get some profits outta the trade.
Another thought, many were thinking yesterday that the Dow could drop up to 600 points. The market would mirror such a fall. Thus, I’m quite disappointed that I did not set a sell order for the Harley Davidson (HOG) puts. Argh!!!
Screenshot available.
