Saturday, January 19, 2008

US Market Summary 18 Jan 08

Dow 12,099.30 -59.91 -0.49%
Nasdaq 2,340.02 -6.88 -0.29%
S&P 500 1,325.19 -8.06 -0.60%

When Bush finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.
This shows the displeasure by Wall Street by the size of the economic growth package.
I feel that unless Fed comes out with confirmed news of rate cut, US Market will continue to continue its decline next week.

If we are able to see Asia market stay strong in the morning, sell your stocks or index call warrants on rise.
Gather some puts to hedge as I predict a rough ride next week which might inch more towards the downside unless a more concrete plan is introduced by the Fed.

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