Market down, portfolio up

Now most who read that headline would think, "oh, you were shorting the market", but no. I was actually long all day today. How then could I make money today?

Well one, I followed my own rules yesterday and sold half of my positions for a nice gain. This morning, as the market reacted to Merrill and Amazon's announcements, I realized it would be a big up and down sort of day.

I kept track of the market as it dipped, and around 11am, the market seem to bottom, so I bought in. I bought both the Nasdaq Qs as well as Amazon stop, for basically the same reason. Technology stock I thought were being hit by a combination of profit-taking from the day before and a general feeling market sluggishness. I thought that the market was over reacting.

After lunch, I patiently watched the market fluctuate a little before inching its way up. I was happy to see the Nasdaq end up even and Amazon make some of its 17% decrease back.

What do I expect tomorrow? A lot of bargain buyers will be coming in to scoop up the cheap stuff, and the market so do well.