I've been stopped out of a number of positions today………..HON, AAPL, GENZ, FLR, and a few others. My index puts (and most of my other positions) have been getting tossed about the room. Worrisome!
The intermediate line in the sand on the IWM, for me, is 70.49, and my stop on the $RUT is anything above 705.99.
I am following my "make it, then take it" rule I set up for myself at the end of 2007 – – – that is, after banking some good profits, I take it out of my account and shove it into my pocket. It's crude, I know, but it works. I'd rather keep my account size pretty consistent instead of trying to build it into something huge and then losing a big chunk on a big error. Days like today make me glad for such discipline. Remember: MAKE it, then TAKE it!
