oversold stock market

Stock market has been oversold I believe. In just 2 weeks, my 401k gain went to 5.4% profit this year to 1.4% last night. Dropping like a stone, I am feeling bad. Not to mention my personal account, shrinked a lot this year.
 
I don’t understand why MSFT didn’t go higher until yesterday news came that it settled anti-trust issue with RealNetworks by paying more than 700 million? Geez, no wonder. Well, now that the bad news is out finally, but I don’t have money! I bought 5 MSFT OCT 22.50 calls @1.90 and quickly flipped it today @2.20 for some gain… little it is, but better than seeing my asset worth dropping everyday.
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