THE WORKS OF SMART MONEY!

I didnt expect the DOW to go down any further last night. It has been red for the past two weeks triggered by uncertainties in EU and the possible exit of Greece. Unfavorable economic/financial  figures too from the US and China had been making investors wary and nervous.  After the sell off, market is supposed to stabilize as bottom-pickers take advantage of the dip.


It turned out the sell off  wasnt over; probably more bad news had filtered in esp with JPM's 3billion loss in hedging. Or investors are still expecting for the market to worsen. Or the SMARTMONEY has gone to work again!


At any rate, i changed my portfolio position anticipating a recovery. The market indeed recovered and the DOW went up 40+ index points. So i went to sleep. But that was how far the market had gone. Soon as i hit the bed, it tanked and the DOW ended the day 12632 points, down 63.35.

I ended up too with a loss, with no choice but to wait till the market recovers - afterall, my call expiration is a month away still.