NONFARM payroll Number at 18000 rocked the markets and we did not enter any new trades. However, we closed our last trade of 2007 with a marginal 1.58% gain ( enough to pay the commissions ) and that helped us close the year 2007 with all winning trades.
Jan 04, 2008 12:52:30 AMZN Sell Jan 90 Put $2.56 ( Avg )
Time: 9 Days
Return: 1.58% or $4.00 Per contract
Selloff was brutal and all day long and recession worries are revived. Dow tumbled 256 points and NASDAQ plunged 98 points, biggest one day loss since September 17, 2001, the first day the markets opened for trading after having been closed in the aftermath if 9/11.
Let us wait and watch for Monday opening .. exciting times ahead.
Enjoy the weekend.
Harry
