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.