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All I can say about what the Fed did on Thursday afternoon is this: About
the most irrisponsible action I've ever seen. There are not more than a few
traders like us who woke up Thursday morning, went about their trading as
best they knew how, and ended up out of business at the end of business on
Thursday afternoon.
As I've told not a few fellow traders...if I wasn't busy answering an
inportant email Thursday afternoon, I would have been short going into the
Fed's surprise announcement. Am sure the loss would have amounted to more
than $25K.
Whew!
I know when I put on a trade I'm playing with the big boys...but I also
know all too well no one is going to bail me out like they did with LTCM!
Jim
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