14 March 2007


So nice turnaround with the screen lighting up like a Christmas tree...we got quite lucky today almost catching the exact low...strange action today leads me to think not much was really resolved despite the nice hammer that might be formed on the daily candles...if you've been watching the futures trade all day, you could see that the liquidity levels, especially here in the afternoon, was just not there as trades are going off all over the place. So just trying to say that this morning's trade was the trade and trying to chase this market up in the afternoon was a fool's errand. The lesson is to stay out when the odds are against you...it took me a long time and a bunch cash to finally drill that idea into my head. Flipped out of those Washington Mutual puts for a small, very small, profit as the break of support at $39 didn't give the kind of liquidation I was looking for...100% in cash...jfg.

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