So Trader Mike has a post about the late selloff being due to a GE report released late in the day. This report, or rather the report of the report, can be read here.
Hopefully, the rally upward continues slowly tomorrow. While the DOW closed red, the NASDAQ closed green which is good. S&P was slightly red. So hopefully, this is going to be a sustainable upward trend.
I have seen a lot of $1,000 – $100,000 or even $1000 to $1,000,000 type of posts on message boards and those always seem to be good for some hope but almost never seem to get anywhere. However, JROCK at HSM is having good luck with his experiment of $2,000 – $100,000. While this kind of posts have been good for daydreaming, they rarely teach the newbies anything worthwhile in terms of standing the newbies on their own feet. That is why my current goal is to simply attempt to do a $1,000 – $2,000. If that is possible then it’s a 100% ROI and more can be targetted. Currently, I’m 77% down. Hopefully, the markets will maintain the momentum and the options that I’m holding will be worth more.