The Best-Laid Plans...

of monkeys and men often go awry. The very signals we were trying eliminate came back to haunt the CMI today. CMI will close this quick, unprofitable trade at Friday's opening price. I'll continue to hold this position only if the market looks like it wants to reverse direction to the upside tomorrow; otherwise I will be out before 10 a.m. Better to keep aligned with the CMI. Remember that half of last years trades were not profitable but the end result was worth the small losses during the year.

I'll update the YTD results Friday or this weekend after the dust settles. Most traders could use the practice taking small losses. Apparently my coconut is still half full.

Looks like the January effect will be pointing to another bearish year unless the market goes bullistic in a big way tomorrow. (See the post from a few days ago). If that is the case, all the QID trades will be given a little more 'latitude' than the QLD trades.