I've been busy this last week and havent made any trades this week. This market is too hard to trade and i prefer to sit on the sidelines protecting my capital and wait till the dust settles. It might have settled for a short time today. Today felt more like a short covering rally than actual buying. Nonetheless, shorts will take a couple of days to finish covering which might prolong this rally a little more. Lehman reports earning before market opens on Monday. If Lehman says anything remotely positive about the economy/ mortgage writedowns/ their balance sheet/ heck even the weather...this market will have a HUGE GREEN day. I assume the shorts wanted to cover incase anything like this happens and hence the rally all day today.
I bought a very small amount of calls on Cognizant Technology (CTSH) today. I've been eyeing this company for a while and finally pulled the trigger today. Indian software companies seem to be on a rebound here after selling off for almost a year. I actually also bought stock in Wipro Technologies on the Indian market last week.
Remember, the key in this market is to protect you capital so you can trade another day.
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