AAPL, C & the Market tanked

The market tanked yesterday. Dow broke the Aug 2007 Lows again and closed lower. The S&P 500 and Nasdaq composite index almost test last week lows. Until these 2 indices broke the Aug 2007 Lows convincingly, the Bears and the Bulls will fight it out. In the meantime, the market will be very volatile.

At the stock level, Steve Jobs did not managed to impress market watchers at MacWorld 2008. As such, AAPL tanked almost as soon as Steve Jobs started his keynote address. Lost some money there. C also tanked on such a bad earnings results. Closed my positions yesterday with mixed results.

• Closed Bull Put Spread AAPL Jan 175/170 Put @$3.40. Loss at 48.4%
• Sell to Close C Jan 27.5 Put @$0.73. Profit at 87.2%

- PersianCat (Millionaire-in-progress)