Dec 1, 2004

Stopped out

Taking stops on some Dec puts here. I am feeling more bearish on the long term because of interest rates, the dollar, and more bad news out of Japan. My best guess is that there will be better short entries in January and for now it makes sense to try to play momentum where you find it.

Part of me feels like this top is just a bit difficult to time, like all the other tops this year, but with the breakout above the downtrend line in Nov. it is difficult to play that way.

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