NDX finishes down for the day

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September 20, 2005

A wild ride brought the NDX down from its highs of 1604. Whatever the reason the NDX finished down .49% or 1% in leveraged funds. If the NDX came close to touching the 50dema yesterday, we closed on its face today.

Market tends to bounce after the Fed day if the close is down and vice versa so tomorrow has high probability for being up. The stocks I shorted are garbage and shouldn’t rise with the tide if the market goes up tomorrow.