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Being relentlessly bullish on the indexes. Apparently when the Fed screwed up their announcement and their telegraphing of their injections (one was today), I didn’t see that as a reason to cover my longs. Not to mention my “system” should have had me short for weeks….ahhhhhh. A system doesn’t work unless you follow it dumbass, says the voice inside my head.

NDX lost  a whopping 5% and RUT lost 4%. What kills me is I should have been gaining these percentages today not losing them.

JADE – I dropped it this morning for a combined two day loss of 7%. Not bad when you consider JADE dropped to a low of down 16% today alone. That would have had me down in the 20% range if I didn’t cover. Cutting losses are good thing .

KONG – This worked today altho doesn’t justify a what worked today posting. I bought @ 6.52 after I saw the momo picking up and then when it couldn’t handle the $7 – $7.09 range I went to sell, but it dropped fast, got out @ 6.75. 4% gain. KONG closed at 6.29. Good trade.

Still long the indexes expecting a big bounce tomorrow……yeh sure.  GS reports tomorrow…

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