Friday, January 29, 2010
The Day After Fed Day
Wow! What a week it has been.
We have seen an interest rate decision and Bernanke been finally confirmed. We have seen economic data galore, and if that was not enough we have seen hundreds of earnings reports. And what has been the upshot of all this information.
The markets have declined a huge amount and the selling has been relentless. Thursday saw the Dow fall 115.70 points closing at 10,120.46. The SPX lost 12.97 points close at 1,084.53. We were in the green and miles away from our stop loss but given the mood in the market, were beginning to move onto shaky ground.
The desicion was therefore taken to adjust the play and give us more downside. We did this and had to pay 35c for the pleasure of doing so. Therefore our maximum profit has reduced from $1.85 to $1.50.
So we now have more downside breathing room....just in case the bottom falls out of the market! Next time we will look to adjust is if the SPX hit 1040 in the next seven days or so.
Until next time.
We have seen an interest rate decision and Bernanke been finally confirmed. We have seen economic data galore, and if that was not enough we have seen hundreds of earnings reports. And what has been the upshot of all this information.
The markets have declined a huge amount and the selling has been relentless. Thursday saw the Dow fall 115.70 points closing at 10,120.46. The SPX lost 12.97 points close at 1,084.53. We were in the green and miles away from our stop loss but given the mood in the market, were beginning to move onto shaky ground.
The desicion was therefore taken to adjust the play and give us more downside. We did this and had to pay 35c for the pleasure of doing so. Therefore our maximum profit has reduced from $1.85 to $1.50.
So we now have more downside breathing room....just in case the bottom falls out of the market! Next time we will look to adjust is if the SPX hit 1040 in the next seven days or so.
Until next time.
# posted by Paul @ 3:20 AM 
