Just didn’t wake up in time and felt lousy.  Stupid flu.  I hardly looked at the market.   So no trades for me today.  Michael has a nice paper profit on RIMM - should have copied him on that one. 

I didn’t make any moves today, but I am happy that what I thought was a bunch of bad positions wound up not being as bad as I originally thought. You can see my original post this morning pretty much predicting a bad day. Well, after a terrible commute to work…

Bernanke hinted the interest rates would be lowered (duh!) so the market is reacting with extreme higher upward pressure.  The funny thing is that everyone knows the Fed will be lowering interest rates, so why the massive reaction several people don’t get it, including me.

I made some purchases today, but didn’t sell anything.  I’m thankful that Dell didn’t report super well, helping to take things down after hours.  Now if only Bernanke would come forward and say “screw you all, I’m leaving rates alone”.  Ya… that would make my day and give me a shot of getting back into this competition.  Damn Lindsey..

I exited my JCP calls today.  There’s a good chance there’s more upside but I wanted to lock in the profit.  

RIMM again.  Yes, again.  I’m just not learning I guess.  There was a time that I was dead on with my guesses on RIMM and maybe I’m still holding onto that fact.  Today is not one of those days where I puff out my chest and talk about victory though.

Ya, SHLD stock dropped 15%, but that’s not a reason to expect the worst.  When the majority of the bears and bulls realize that another possible rate cut of 25 points will mean eventually devalue the dollar more, causing lots of “yuckiness” (that’s a real term, really).  I took positions a little early this morning, let’s see what happens…

Sears Holdings Corporation (SHLD) reported earnings this morning.  It reported net income declined to $2 million, or a penny per share, from $196 million, or $1.27 per share, a year ago. 

Today wasn’t the worst day I’ve had, but since the competition is not to lose my money faster than Lindsey, I’m not doing well.  Hopefully tomorrow I’ll have some more BP (buying power) and will catch a good deal or two. 

I placed a limit order for additional JCP calls and it filled.  This time I went for the Dec07 $45 call options.  I chose the $45 over the $42.50 because I decided I wanted more leverage- and the further out the call the more leverage.