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Thursday, January 13, 2005

Another day another loss. The Dow got pounded in the last hour and lost 111 points. Advance/declines were negative but not even 2 to 1. The volume was average. GE lost around 50 cents and I am getting killed. I am a fool to have held on to these calls. I should have bailed out as soon as the summation index went to the downside. The market was telling you what to do and I did not listen. What a fucking dope. I have no choice but to wait for the earnings next friday and hope for a miracle. What an idiot. The market is oversold and staying there. That is never a good thing. We have now broken to fresh lows and the support has been taken out. We never got through the down trend line and so that is still in place. Buy signals are not working. I've been wrong here and I've been wrong before but it doesn't make it any easier. However, I can always make the money back. Gold didn't do much, the XAU was down a point. The last hour sell-off is another negative. Inflation report due tomorrow and that could be another nail in the coffin. Not much else to say. Oil was higher but still below $50. The dollar was up a tad. Long weekend coming up and nobody will want to be long going into that.

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