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List,
Well we rode the market down, chickened out and closed out half our stocks
at a loss, and then rode it back up so that our remaining stocks are all
(but 1) in the black. What a wild ride.
We kept our long S&P futures position all the way. Looks like we'll make a
point or two, as our system has us going short in the morning.
I actually have no feel for this market and its wild swings. It looks like
it can go either way, but we have to go with our system and not second-guess
it. What's really scary, is that I'm fairly comfortable on the long side
now. Having been a bear all the way up, and holding on for dear life every
time we went long, I want to warn everybody that this might be an important
sign that we're near the top. When you couple this with my stock trading
this week (going long the day of the biggest NASDAQ drop in history and the
subsequent day), it appears that I have the kiss of death when it comes to
equities, and should stick to futures.
FWIW, we're closing all of our long stocks on the open (and not shorting
them I might add), reversing our S&P future positions and probably selling
the DIA,
Spy, and maybe the QQQ.
Regards,
Guy
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