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Re: Frank Pembleton post# 18163

Thursday, 01/15/2009 10:25:09 AM

Thursday, January 15, 2009 10:25:09 AM

Post# of 19037
Well I'm glad your back. Thanks for sharing your story. I'm guessing that you've been trading longer than I have and I have a good deal of respect for your trading so I was curious how you handled it. I didn't know why you left - just saw you gone one day. I think the good traders know there's no shame to going to cash and that every once in a while one's FA/TA/EW picture does not match w/the market. The bad traders keep trading, the good one's take a break and realize they're only human.

Some market, slow grind down right thru various support pts leaving no obvious entries for new shorts. Still very high cash overall right now. On a risk/reward basis some of the currency ETFs look decent here (FXE, FXC). Long term I know that I should set up a true forex account as these ETFs may melt in a true crisis.

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