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> buying just minutes or hours before
> the Fed rate cut, and selling out within two points of the high over two
> weeks later is nothing short of spectacular.
Actually, it was one week. In hindsight, I probably should have taken
profits on Monday when it first banged on that overhead resistance but I
wanted to give it a chance to break through and my system gave me a
profit target slightly above there. Then I sat there cursing myself
while it dove. :-) When it gapped up into the same region on Wednesday
and stalled in the first few minutes, I said I'm outa here and bailed at
the market. It wasn't worth the risk to hang in there for the few extra
points the system said I ought to be able to get.
Right now, I'm long again and not loving it very much. I'm barely above
water and have been in the trade too long. This could well be one of
those bad trades and I freely admit it. Unlike certain list members, I
make mistakes all the time. I've got a stop loss order in today at
1225.75 and, if that isn't taken out, I'll crunch the numbers for
tomorrow and see where I stand.
--
Dennis
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