Hey Guys,
The market is bouncing all over the place. Yesterday after my daily email, the S&P 500 went down to the 4200 level and seemed like it could go down further, but then it changed course and went up 100 points from there. You just never can tell what's coming next. This morning, after all that, it's back to where it started the day yesterday.
The roller coaster yesterday triggered a number of stoplosses for me. One of the tradeoffs with using a stoploss (versus having no stoploss) is that the stock can go back up after it reaches the stoploss, and it did that yesterday for some of my positions. On the flip side, the stock could also of course have gone down further, and if you have no stoploss it means there is no mechanism to stop the bleeding when the price goes down. It's a tradeoff, and neither one is the perfect solution for every trading situation. The back test support both approaches over the long haul. So I stick to one approach and accept that sometimes it's not going to play out perfectly for me.
There are no new trades today. Yesterday was like a circus with trades triggering left and right, and it kind of emptied the cupboards of many of our potential trade opportunities. There are still some tickers left on the scan and watch list, but none have triggered yet today.
If you have any questions or feedback, I'd love to hear from you.