TGIF

When I run my weekly system scans this weekend...I'm afraid a few sell triggers will be issued due to disaster stops. Unless we have a good day tomorrow.

Losses hurt but are a part of business. A great take on losses is from Tom Basso's interview in The New Market Wizards book:

• "Think of each trade as one of the next one thousand trades he's going to make. If you start thinking in terms of the next one thousand trades, all of a sudden you've made any single trade seem very inconsequential."

• "I stopped looking at losses as problems and started viewing them as opportunities to elevate myself to the next plateau."

• "I sat there for a moment and thought about all the events and actions of the previous evening and that morning. I realized that there was not a single thing I would have done differently. Despite having just lost 15 percent in our portfolios overnight, I felt phenomonally good at that point."

Market note: The heavy-weights were back at it again today. Will they be back tomorrow? Doubt it. We should see some strength. But, watch the last hour of trading to gauge how comfortable traders are with holding over the weekend.

Everyone have a great Friday and enjoy your weekend.

Daily Systems

Sell trigger issued for QQQQ (VolSurgeDown) long system at Friday's market open. The signal issuing the sell is a time stop. Most of these QQQQ systems will be hitting time stops next week.

Current Open Systems:

Symbol	System	Entry Date	Exit Date	Profit/Loss%
WAG	BreakUp	1/4/2005	open	+2.30%
QQQQ	Tii100Low	1/5/2005	open	-1.58%
QQQQ	BBLower	1/5/2005	open	-1.58%
QQQQ	ATRBreakBB	1/5/2005	open	-1.58%
QQQQ	TrueRVolume	1/5/2005	open	-1.58%
QQQQ	VolSurgeDown	1/6/2005	open	-1.42%
QQQQ	Harami	1/6/2005	open	-1.42%
ACV	BreakUp	1/7/2005	open	-0.81%
			Total	-0.94%

Please read the disclaimer on the website. This is not a recommendation to buy, sell, or trade securities. Just a journal of my travels through Wall Street. I can buy, sell, or hold any positions mentioned on this website at anytime. So, be warned.