What a sell off! BIDU went down nearly $25 today, my 250 March put options now worth $13. I could have made a killing IF I don't sell last friday. Again, it's a big IF, that's what happened when you play with stocks, you never know the future. One of my friend sell this morning since it started to creep up again after down about $13 in pre-market, I mean I would do the same thing if I was him and would not wait until mid afternoon like now. Anyway, I'm still glad I don't sell it at loss last Friday otherwise I could've regret it much.
On the other hand, Bear Stearns went down to $3 range from $30 on Friday and mid $50 last Thursday. This is really crazy! JPM Chase try to save the failing company by buying it at $2 / share, I don't know if it's a good deal or wrong move by them. Over the weekend, the emergency move by Fed to cut discount rate by 25 basis points doesn't seem to help that much and the global market also experience sell-off due to concern with the U.S. market. We'll see how the stock market will react in the next few months.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment