I'm delighted with the performance of my long positions today, however, I am keeping my positions on a very, very short leash.
- Anything that wasn't showing a profit first thing this morning was sold like a shot. If a stock can't perform on a day like this, it doesn't deserve to live.
- Other stocks have, by and large,stops set just below today's lows. Again, a very short leash!
- Aggressive traders may even look toward shorting the NDX, which is both under-performing the S&P 500 and is pushing up against a (relatively minor) retracement level already.
