10/19/2007

The sellers were all over today. No one really knows what cause this small correction, it could be many factors such as, option expiration, 20th anniversary of the '87 crash, caterpillar's terrible earnings, weak dollar, record high oil, or mutual fund window dressing for the Oct's year end reporting. I believe it is just a combination of all of the above that just spooked the market. I basically gave up all my gains for the whole month in one day. But, I'm not fearful the market will continue to rally till year end. Bought slb after their decent earning it went down because of slower projects going forward. Bought at 101.42, it should come back next week, Wall Street just loves this darling stock. Covered all of isrg for -20/share lost, got slammed on this and was not a good gamble on my part. I still do not know why this stock is so very high in valuation, but I'm not going to challenge the momentum. Well onward to next week, the heavy earnings numbers( aapl, bidu) will continue next week.


Current positions/cost
Long vmw 84.50
vsea 48.6s
slb 101.42