Wednesday, May 26, 2010

May 26 -missed opportunities

Wow. Tis market is moving fast. I watched WMT not move at all - contemplated getting out and did not. When the rest of the market was moving up fast and WMT didn't move at all in a very volatile market I should have taken the hint and gotten out. My stop loss is mental and just below yesterday's low. If the after hours is any indication, I will be getting out of this one tomorrow. But then again in this market who knows it may bounce right back up tomorrow.

I watched GDX bounce against resistance of the descending trend line. I would normally have taken profits there for a great 2 day move but I was going to try and let this one run. Maybe I should only let positions run that are going with the prevailing market trend which at the moment is definitely down.

On the other hand, my short verticals are benefitting from the sideways to down movement every day.

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