DOW Drops 777 Points Today

By | September 29, 2008

In what became the largest single day drop in history, the DOW dropped 777 points today. Needless to say, my portfolio  (and many others) took a huge hit. I was expecting the market to rebound today, but instead the market gave me (and everyone else) a nice surprise took a long free-fall. Here is a nice article that talks about the consequences if $700 billion plan is not passed.
This is another example indicating that the market is unpredictable. When the market is expected to go up today, it took a nose dive.
There are too many regrets in my trading decisions lately. There are so many things I wish I would have done to prevent big losses in my portfolio. I closed out two positions too soon.  I sold my Goldman Sachs puts and GLD calls too soon, because I was anticipating a bailout approval. And I also bought XLF shares.
I’m listening to the latest news now. The feds are planning to cut rates (50 basis points) to help boost the market. Let’s see how it goes.

Leave a Reply

Your email address will not be published. Required fields are marked *