The market made an about turn due to crude oil prices dropping and also Fed Reserve comments that calmed the storm. Dow was up 1.4% and so was the S&P 1.7% yesterday.U.S. stocks on closed higher as crude’s biggest price dive in last 3-4 months to about US136 per barrel helped by comments by the Fed that reduce fear of bankruptcies.The Dow Jones Industrial Average closed at 11,384.21 up 152.25 or 1.36%. Dows 30 components had 23 of them posting gains.
S&P closed at 1,273.70 up 21.39 or 1.7%.
Well, my portfolio went into the red as expected, first from me over-paying the premiums and second, by the upturn in market. MCD and PG look precariously close to taking out my stop so I might just close them out for a small loss. It will be a few more days before new positions can be determined.
Stay tuned … :).
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