Subscribe Feed (RSS)Millions are made and lost now
January 22nd, 2008 by eyal | Filed under Day Trading. |
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Wah a ’surprise’ rate cut, but of 75bp.. I’m sure billions of dollars are exchanging hands, or more accurately accounts, right now. This is going to be one wacky day so hold on to your seat, it’s a rollercoaster on rocket fuel. I’m going to be ultra cautious of going either long or short. With this kind of volatility there are some great opportunities to make a killing, but also to get killed. I prefer my results to be less dramatic than that. Missing on making lots of money is quite a bit preferable to me to transferring a large chunk of my account to someone else. Maybe that means I’ll never make hundreds of millions, that’s ok with me, the thought of blowing up is far more disturbing.
P.S. Looks like Bloomberg’s site is struggling today with the traffic, it’s not loading up for me anymore. Briefing.com is still working ok though and based on that, the 75bp cut bounce back has already evaporated and we’re back to the lows.
