Jinx Isn’t Exclusively Mine

I know it’s probably more wide spread than I know it, that jinx plagues on other traders, too.  It’s just that I don’t get to read them.  Today TheFly documented his and vented his anger on his blog. (Caution: rated ‘R’.)

He was 70% long into the FOMC meeting as the yellow zone was touched.  Operation Twist was a disappointment and the market sold off.   The next day was a red-gap and a knock-out punch for him.   He took the 4% loss that wiped out half of his year to date gain.  The next day he went 20% short.  Today the market rallied 2.3%.  A nightmare indeed for him — so far it seems he had taken loss at the bottom, and then shorted at the bottom!

For me, I got what I wished – that the market bounces, allowing to reload some at better prices.  It was stronger than I expected so I only added 5%.  The MACD on the daily is obviously in the negative territory, the Money Flow is negative, and we’re still testing the first resistance (the top of  Friday’s gap); therefore, the bear case remains intact so far.   I plan to short more tomorrow on rallying higher.  Any rally higher on this bounce should fail on the 118 confluence of resistance — fingers crossed.

Portfolio Value: $133,600

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