A hedge fund manager was saying fiscal cliff is like sex. Before any resolution (good or bad) everyone is excited and erected. After the resolution, everyone will relax and market will drop.
I would tend to agree with you. At least about stops. Different strokes for different folks. I also don't use stops, but pay for it with reduced size. I kind of accepted the 95% lose myth, and thought about what 95% do. They read a book, put it on with a stop. I also didn't like getting stopped out just when I should be adding more. The stop assumes that most of the time the mkt trends. That has not been my observation. But sometimes it does. If I am properly hedged, I won't get hurt that bad if it trends against me, but I will make all my money if it finally trends for me. I'm not going to argue the point. This is what has been working for me. If something else works better, live and let live I always say.
yeah, I got out of that one stock, very tight quiet spread. so from a stock with possible profit potential to cash which is a guaranteed loser
all I can say is that some smart local probably made his year on friday! http://indexarb.com/avtceSP500MAR2013.html