Daily Report(10/13/2008)

Last week was the worst one week in US stock market history. Stock market decline in 8 consecutive days and dropped 22%. Last Friday was the most volatile day in history. DOW swung 1019 points in one day. VIX also in historical high over 50. Global effort to shore up financial confidence didn't seem to work. Even though I think it's good opportunity to get in but almost all my capital is stuck in the market. My IB portfolio lost 30% last week. I was wondering whether BDI will drop below 3000 last week, and today, it dropped 245 to 1976!! What a bloody fact. I apparently bought dry shipping companies a week too early and it's a fatal error.

Today market up 570 today in the morning session due to global bailout plan. My portfolio also post about 10% gain so far but still has about 20% loss. Following is a snapshot of my IB portfolio:
Symbol   Shares   Cost
AGU      100       47.05
CF         100       69.18
MOS     100       45.51
TRA       200       21.01
DRYS    200       34.51
DSX      300       21.11
EGAL    300       12.51
GNK     200       31.35
SLV       400       11.47
DGP      200       18.01

All have lost except for TRA. DGP and SLV are for hedge but didn't work as expected.

Today DOW up 976 to 9418. Hope market finally bottomed up.