Stock Trading Plan for July 12, 2007
So we indeed got a bounce. My holdings did continue there slide down in general or at worst stumbled a bit. So lot of them are sitting with narrow range bars for today. Meaning there could possibly be a reversal if the market strength continues. I should not be influenced so much by one day’s action. I COULD just follow my standard trailing stop rules and let the market take its course. Most of the open positions would be mildly profitable with that. However, if it is a choppy day tomorrow, my positions will get just chopped out with the market only to move again in the direction of my entry. Recent analysis showed that had I let my positions open without stops, I would have made double the money with a flat stop after 20 days. Sooooo, I think I am going to let them move around a bit and just move stop to BE.
Mood towards market: A little apprehensive but not too worried as most of my positions are in the green. It all depends on the market going forward. If it goes into the green, taking out recent highs, I will have to cover all the shorts in a hurry.
