Wednesday, 7 July 2010

10% rule is a harsh mistress ...

... sometimes she will protect you from loss - at other times those gains will run away without you. I figured at this point in time the 10% rule has to be played ruthlessly

I made a good decision to long on DJIA at 9698 given the strength of yesterday's late rally.
Logged in at 3 to see a nice gain of 120+ points. Ummed and erred about setting the stop at 80 and just seeing how it went but with the fact I must log in at work and can only spend at most 2-3 minutes on this I just took it all off the table. Bear in mind yesteray the index opened up 200pts up on the futures and fell back
Well as it happens today was one of those days the index was out to crush the shorts and it rose and rose right up to 10000 without looking back.

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