I accidently blinked twice and was taken out back today. I know I am not the only one.
Today Mr. Market mocked me, my stock picks, my words and my rules. That’s what I get for being haughty about them. I was hit hard by stopping out of nearly all my recent positions down from 3% to over 6% today. These include $ATPG, $LOGI, $MPEL, $MOV, $QTM & $ZAGG. I now have over 90% cash and part of my remaining small book is puts in $SSO. We lost support in $SPX at 1300 and then at 1290 which makes me feel that we go lower. From here I will stay light until a true bottom presents itself. There are a few support levels we could trip on the way down to the 200 day moving average at 1249.
My task is to get my head in a neutral place so that I can be objective going forward. I wish us all luck in this endeavor.
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sounds good! staryed buying today around 1290, will add at 1275, then at 1250, and then walk away until pnl becomes silly green 🙂 that’s my plan, if we drop in a straight line….
Lot of pain around lately. Here’s to a bounce very soon.
Good job making adjustments.
Thanks everyone.
your titles lack creativity and get old quick expand your vocabulary a bit. I find your constant use of the rape reference offensive.