Definately... my own fault. Should've stayed away from retail. KSS is a bad stock for me anyway. It sure doesn't trade like a stock which averages over 3 mil a day.
No reason to get rid of a stock just because it moves 30 cents in two prints, every stock on my list has done that. MRK has been a consistant big winner for me and MRK did that twice in one week to me in December. IMHO the key is to know when to get out fast and when to ride it out for the quick come back. More and more my open orders are going against me quick, i usually wait for a pullback and get out. The open is a very volatile time about once a week i get i print through in my favor in one print that moves 10 to 20 cents. no fills today
I agree but every situation is unique. KSS looked weak. I actually held it for a minute or two waiting for a bounce, but then it started ticking down again so I dumped it. I like to see a quick reversal but it couldn't get back up right away. I think if there was more volume in the market the stock would have bounced quicker... but today I'd rather take the loss and focus on the stocks that were in the money. I was watching the tape and it looked weak. I figure it gapped down fifty cents then it dropped another fifty cents it wasn't what I would consider a good candidate. I also made good money on MRK a few times over the past two weeks.
I took a look at the KSS time and sales and it was ugly. If you waited for the pullback and played it perfectly and got luck to get filled you might of lost just .25. The opening print was for only 22,100 shares, not very large. I bet a lot of open only traders caused the open to be a bit too high because there were not many sell orders at the open. just my 2 cents.