Tuesday, October 30, 2007

Still waiting...

The Nasdaq did okay today, but really, it's still waiting for the Fed to tell the market "Rate cut!" There's very little change for a 50bps cut, but that would be amazing.

My portfolio right now is doing okay, since the Nasdaq has been up, but my bet on Amazon has yet to pan out. My attempt to catch a market inefficiency is butting heads against another classic market issue, no matter how wrong the market is, if the market wants to go there, you can't fight it.

So far, my Amazon options have lost 50% of its value, which is about $1,300. Hopefully the Fed's rate cut will help boost the stock some, at least enough for me to recover what I put in.

1 comment:

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