Thursday was a dud of a market day.

(NT) like I called last week, finally fell down to $0.25/share and apparently hit $0.24. I dont know when this happened as my open order still stands at that magic price, unfilled. However, I might lower that just to ensure I can get a better price if available. There seems to be resistance at a quarter/share so if this stock can break that barrier, maybe there might be further reductions to the stock. But with the volume patterns, this might just hold out and rise as the changes for a take over come into light. Nortel has assets and can get easily taken over.

(RIMM) showed an increase in revenues during its earnings call. It beat estimates with almost 67% gains! Funny thing, there was a huge spike on the after hours and like I have said, DONT GO IN WITH OPEN ORDERS!, but somebody got a really bad buy price. This stock ended down on the after hours . It will probably go lower based on over all economic data. It will be nice if it came down to $36/share as that is my buy price.

(XOM) was another loser I was watching. OPEC slashes production and still the price of crude falls. In basic terms, that means that the economy looks to be in worse shape that we all want to believe. If supply is cut and still there are not any buyers, its bad.

There was also rumors that GM and Chrysler might be getting married in a merger but that has been debunked. It looks like Bankruptcy is about to go down and I’m glad in a way that I sold my position in GM (except for the remaining “free” shares I got floating). Lets see how this plays out or will Congress pull some magic trick? who knows.

Overseas, Japan has slashed its lending rates and after a down market, the Asian stock market has rallied a bit. Its on the plus but I’m sure that wont last. There is a buzz at the moment that GM might actually get a loan, I know in the last paragraph I said something else, but wow…news changes all the time!

Also, there are changes for Americans that own credit cards, its good news and maybe Canada and other larger economies will follow. Here is the video link with explanations:

Friday is an off for me today. I don’t see any chances of being in front of my computer long enough to make any big trades. If (NT) goes through for me, I will be happy. Otherwise, gonna get out of the ‘office’ early today haha…

Seriously, I need to start putting in more hours towards USMLE so that really needs my attention today. Hope you all make some strong moves today.

Finally, since its Friday, thought I would cap the week off with a funny video. This just shows that we all need to have good negotiation skills in order to succeed in business and in life :)

Happy Investing!

Aman, MBA

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