Canslim does not tell you that it is ok to lose 8% in your portfolio. It tells you not to lose 8% on any individual stock. You have lost 30% on TIE. If you took your 8% loss (which is still too high in my opinion) you would be up instead of down.
This year has been my best...My yoy average is around 35%, no losing years, maybe 5-7 losing months total. I trade anything liquid. Like many people this year, have been following ETFs, OIL sector stocks, and i have been shorting real estate. I also use index options. I dont daytrade unless my stop is hit the same day. I find the best time periods for me are between 3 and 10 business days.
Nice job..that is impressive. Most traders find it difficult just beating the market and a lot fail in that regard. Anyway, the nasdaq is up a nice .5% and my picks are up overall, but this time GOOG is getting hit GOOG - .9% $382 TIE +1.8% $27.25 CHAP +.6% $70.7 AAPL +1% $64.5 HANS -.25% $45.9 Looks litke bears are trying to drive this market lower today (in the morning) but there is ALOT of good economic news keep coming out. Every number released is percieved as 'good news' bringing the market higher. If your short, hope you have a plan to bail.
Why? You're long and obviously had NO PLAN TO BAIL. Short is still the place to be until the s&p goes 2 or 3% above 1280. Then and only then will I be convinced the market is headed higher.
I am going to offer an alternative view on the market here and we will see which one turns out...Hope you can learn from this. 1. NOT a lot of good economic news. Oil (i.e. XOM) has great earnings that are bringing large dow compnets up to resistence levels. Look at XLE and OIH hitting resistence at 60, and 145 respectively. i dont see it as sustainable beyond tomorrow, but XLE has a decent chance of breaking resistence longer term. 2. I dont see any other positive news on my bloomberg other than durables. 3. I am not short, But I am once again looking for short to probably execute tomorrow (or safer on monday) after our recovery this week. that is basically the opposite of what you just said. i am by no means always right...but we all have times when we are in sync and outof sync with the market. we need to be able to step back and recognize the difference. Well see on monday.
Nothing drastic is going to happen until the fed meeting which is only 7 trading days away. Even if the fed does pause I don't see this market heading to new highs, but in my opinion there is no way they are going to pause.
I think either way it will be a downward reaction. a. Increase interest rates- "eek, slowing us MORE" b. Pause-"eek, we are so weak that they dont want to raise any more"
Update as of 11.13 AM Pacific As the nasdaq surges higher AGAIN a whopping 1% as do my stocks I sellected CHAP Now 71.2 Bought 70 Gain 1.7% Tie Now 29 Bought 35 -17% Hans Now 43.5 Bought 44 -1.1% AAPL Now 70 Bought 58 +20% GooG Now 375 Bought 412 -9% Average loss ~1% Not too bad for a so called correction. Maybe when the 'real' correction hits i'll start to lose more money. I dunno but im very close to being back in the black. Looks like the bottom has already been formed http://finance.yahoo.com/q/bc?s=^IXIC&t=2y&l=off&z=m&q=l&c= around 2080 or so and will rebound in a few months back to 2300. Should be no problem. Nice cup and handle. Also, all bad newses is PRICED IN. That means that the fed hikes and that nonsence doesn't have the same affect as b4. Thisis how you make money position trading. You buy some quality sotcks and hold on to them. Some do well and some may suck but overall you should do well. And this is jsut the start. Shoud the nasdaq rebound to 2300 I estimate an overall gain of %20 for all my picks so thats some good.