Hooray for Stock Market Blood!

There was a very nice 300 point drop on the DJIA today. Why am I pleased about it? I have been becoming somewhat savvy with trading over the past few weeks, that's why. I pull up the charts on Yahoo Finance, see where the support and resistance levels are, and make a hypothesis for as to what the price of the stock could go to. I have been reading lately, articles by people that are more knowledgeable than I, that there is going to be volatility in the market for quite some time. So, in anticipation of the market dropping off again, I put in some GTC (Good 'Til Canceled) stop limit orders and limit orders for my more volatile positions (DRYS, WFR, UPL), and just limit orders for positions that I wanted more shares of (BEAV). We will go into a bull market soon enough, which might be as soon as the next FOMC meeting (03/18/08).

I knew yesterday that the move on Crystallex was just hype, so I put in a stop limit order for it, which ended up selling some of my shares. I now have a limit order for it at the price that I bought it last time. I'm confident that it will get there, unless Hugo signs the permit before then.