As the Dow was sitting around 12100; around 2:55pm, one of the CNBC pundits came on the air and made some comments about a plan to assist mortgage insurer Ambac and turning a 180 point loss in the Dow to a 45 point loss by the close.
The sickening thing was the move stopped out our entire TWM position at 86.09 yesterday. So now we're 100% cash. Sad thing about all that was because of the number of bad hedge trades using long oil companies ate most of the profits on the TWM trade. The end result of was a measely .33% gain or just under $700.
It would figure the markets after initially rallying over 120 points on the fake ISM numbers are now down 40 points with 2 hours left in the trading day. The TWM is back to 87 so we're on the outside looking in until we find another setup.
YTD -4.73%
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