Permagnus.com

I was right (well, many are right) that The Fed’s decision to slash its rate on discount window isn’t the cure that the market is expecting and Dow closes down around 30 points in a pretty low volatility session.

Out from 3 trade idea that I posted here, I only execute two of them which is the solar play WFR and SPWR. I didn’t short BSC because it didn’t gap up today nor does the Dow. Out of that two, I got burned a lot by SPWR because apparently it failed to break its pretty minor bearish resistance level. Nonetheless, I’m still keeping my eyes on this stock because it can break that resistance anytime soon and will jump back and trade above its med-term bullish support.

Two impulse trade saved my portfolio today and avoid losses (I manage to get some profit for pocket change). AMZN break its 2 weeks trading range, bought Sept ‘07 75 call @ $3.9 and sold it for $4.5 (the weird thing is, the stock closed higher than when I sold the options but the closing options price is a lot lower now @ $3.4 — does the Theta sink in that fast?). And playing some quick buck on INTC (bought it when the stock hits -1.5%, sold it around -0.5%). I’m going to post more trade ideas (only for day trading — the market hasn’t trending now) later today or early tomorrow morning.