Today's Action

Fed Cut rates by 0.75% today to 3.5%. Considering global sell of today, market recovered big losses of the morning(around 5% points) to loss of 1% at close. I am not sure but it could be small bounce rally becuase of interest rate cut. Let's see. I am not going to do any lswing positions, might do some day trading if find something to do.





I made little day trade today on SOLF. I gained about 60Cents on it before i was stopped out on it. Something is better than nothing and loss. I wanted to make second positing around here but couldn't do it because i was in meeting. I did put my buy order at 17.30 which never got filled other wise it could have been good profit of around $2.00/share at end of day.



I also bought SIGM put options (1 contract -- 45 for feb2008 @ 6.90) which gained about 16% in the morning in sell off and i sold my put for gain of $100.00 (@8.00) in the morning. I guess it was good call becuase SIGM covered its 12% loss of early morning. So nice gain of $100.00.

SIGM has been doing well for last two days. Let's see if it gives entry point for short or long day trade.

Today's Action

Federal Reserve Board Chairman Ben S. Bernanke said more interest-rate cuts ``may well be necessary'' after 1 percentage point of reductions since September to buttress economic growth.

It means economy is in trouble and further aggressive rate cuts may happen. Lets see how long this rally goes...........

YHOO position did good today on possible buyout my MSFT. Its up about 6.78% and i will bring my stops to today's low (22.83) which is about my entry point (23.63).

I missed afternoon rally on MDR becuase of meeting i had to go. But i will keep an eye on it.

I will also keep an eye on DSX and DRY for possible couple of days. Let' see.

MDR - Macdermott Intl. INC - FollowUp

I put possible break out of MDR above 61-62 limit. I did but couldn't hold on it and got sold off in year beginning sale off. Today it has created a long legged doji and i will see tomorrow if i can long position for short term or not.

It might give us short term uptrend as overall maket turned little positive after afternoon. It that postivieness carries over, this might provide little oppertunity.

Today's action

Today's action after continous selling for so far in 2008 provided some hope. But i am not sure it is bargain hunting or short covering. Federal chairman is about to speak tomorrow so may be shorts are covering their short just in case if Mr.Bernake surprise wall street. Earning season has also started and alcoa 4Q 2007 profits are up so let's hope earnings are good for rest of the leaders too.....

I don't think if uptrend starts, it will continue for long. I guess people will start unloading their longs in strength. Market sentiments are negative.

I am not good at shorting but i guess i need to start learning. It market goes little higher, i will buy ultrashort ETF in spy,russel and QQQQ.

Let's hope market provides some relief from selling......