Snap!

Today turned out exactly the way I predicted, although the technical indicatiors definitely had their help in determining the direction of the market. At around 8:15am this morning, the FED announced they were cutting the discount rate by 0.5%, from 6.25 to 5.75%. The market rallied and opened up over 300 points. I was actually booting up the computer when the announcement was made on CNBC so we missed the first run-up but caught a good chunk of it on AAPL before the market opened. The market then relaxed thorughout the day and rallied into the close. We held AA long into the close, I think it should be going to 40 within the next couple of months. It was quite a hard day to trade, because of the dip and bounce, but we worked it out. RIMM had a whopper of a day, and we caught some of it, but not all. I tend to scalp the real winners which I have to get over. Let them run.