Thursday, November 1, 2007

Bad day for the market / bad day for me

Well, not a really horrible day for me, just more frustration in missing big moves. I was not totally focused today as I had to leave the house for a good part of the morning. Also, while the Dow and ES trended downwards, the NQ was sideways for much of the day. Unlike many other days I can't even do much "woulda shoulda" today because following my rules there were not too many missed trades. Only did one trade early for one small loss and then was reduced to an observer the rest of the day.

Interesting how I got shaken out of my extra SDS yesterday (although at least at a small profit - and the small QQQQ sale looked ok today). My experience was likely duplicated many thousands of times by others who were worried into the Fed action and then covered shorts or got rid of hedges later in the afternoon when the market appeared to be "OK." So now that everything looks dark and bearish we should have a bounce tomorrow..... unless it crashes! ES daily touched a newly formed trendline.

6D Tnote reversed sharply a TY closed up a full point at 111-00. Need to trade this system with a stop loss.

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