Thursday, September 2, 2010

Don't fight the tape.

Lesson learned. Don’t fight the tape no matter how confident you are. I sold out of half my SDS position for a $1,900.00 loss. I’m holding 15 contracts heading into tomorrow but I am not overly confident about a decline. I still think this market is a house of cards, but unfortunately my opinion doesn’t really count for much.  

I hate losing money. But I guess that’s all part of the game. Keeping with this weeks Rocky theme. 

Now it’s back to saving for my long-term positions. I should be back to $10,000 within a month. I just hope there are some good entry points left.

My new prediction: Job numbers comes in awful, market will rally.

See you tomorrow.


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