watching Fox News they made some points such as wall street is having a fit over this bail not getting finished. for the most part i do believe they are just having a fit, it is just gloomy and rainy right now, but one something is stuck and works for “everyone” not just helping bankers the sun will come out. everyone will be happy, inflation will rise, oil will continue to go up, the president will just talk jargon politics, and life will go on in America.
i have to admit watching the tv screen with the DJIA dipping below -700pts shocked me. i’ve never seen it dip so much. tis true though that the stock market crash of 1929 which everyone keeps referring to, including the president, says we are nearing a depression. well if that was true then the markets would have to drop -50%!!!! the markets have currently dropped between 10-20%.
i didn’t get in any practice trades today either. i would assume the market will keep falling until a bail is passed. i suppose anyone that traded RIMM puts before earnings made truckload of money. earnings are always 50/50. i’ve learned my lessons and anyone that thinks they no better will be humbled by the market when their time comes…
the market seemed to get more optimistic today. warren buffet’s edgy deal profiting from Goldman Sachs (GS) couldn’t hurt. without even looking at my charts i know that congestion would be shown with stocks starting to break out. after the market today Research in Motion (RIMM) dove down on earnings. it just shows how unpredictable stocks are releasing earnings. stocks across the board are down a lot and i’m curious if investors fear more after RIMM’s -20% drop. i do know also the Republican party threw out the bailout plan Democratics were happy with. i’m sure this creates some room for panic and turbulance in the markets as well. i will likely be practicing put options tomorrow unless the bailout plan is passed through law and okayed by everyone. should Fed bernaneke really be taken serious? if he just gave “why” an answer with “facts” rather then just vague statements i think everyone would take the Fed more seriously.
see below call option plays closed today:
September 28, 2008 | Categories: put and call option practice plays | Tags: aapl, bailout plans, big drop after earnings release, call option practice plays, congress, fed chairman bernanke, goog, gs, profit, rig, rimm, september 2008, swn, trading options, v, warren buffet | Leave a comment
my put option practice plays worked out well this week. i would have traded likely AAPL put options as a real trade if my account wasn’t at $0 currently. if i had $100k i would have traded all of these confidently. this type of trade is the trade i need to look for with a rush of buying or selling, bounce, then trading on the bounce for the following day. since my currently goals are to pay off my condo repairs i won’t be adding any free money to my account. condo first, trading second. i think once the new president is elected there will be some great fat profit plays. i can wait until then. for now check out these great put plays that worked out as i thought they would.
most recent practice plays:
all practice trades together: