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Tuesday, February 27, 2007

Wall Street Woes

Today, the market tanked. Although I'm an optimistic person, I did think it was going too high too fast, but I never expected it to fall so quickly.

There is one bright spot (see, I said I was an optimist). At one point the Dow was down 546 pts., but it did recover a bit and closed at 416.

My virtual portfolio did take a hit today, but I did manage to sell two stocks for a total profit of about $2000.00. I sold when the market was down only 200 pts. Now I have cash to make some buys.

In spite of the plunge and all the red numbers, the one stock that I sold short is still above my selling price. I can't believe it, and it's not even a good stock.

There's always tomorrow. Let's hope the Dow follows the trend of late afternoon. The Shanghai Exchange is trading lower now. Remember, it's not a loss until you sell. Now's the time to buy.

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