I usually buy/sell just before the close, but today I have other things to do, and will not have access to Internet/computer for a few hours.
What was this trade based on? Since you hold overnight, and there is still the open question of what might happen to the bail out package, anything could have happened, or?
Yes, something may happen, its a risk you must handle. There are risks in everything. Buying dips is an alternative to buying and holding for 2 or 3 years. This has been profitable. Nobody may pick an exact bottom, tough.
Right now the market has moved sharply against me. A poor entry: tried to trade the bailout approval, despite the fact that the market anticipates news, not reacts. I don't watch the market all day long, but failed to get out when the market didn't rallied after the bailout passed. Now one asks what to do. The market is quite oversold as to sell and go short. Let's remember that this is an alternative to a long term leveraged buy and hold; and it worked. At 1250 I decided to go long term, but forecasted the market would go down further in the meantime. With 4:1 leverage, it would take the S&P to go 25% down to completely blowup my account. Not so with SSO, as it tracks twice the daily movement. For example Nasdaq index leveraged ETFs didn't blewup after the dotcom crash, yet the Nasdaq-100 index dropped more than 50%. So I started buying dips, and it worked, got almost 30% while the market went down. Now, while my account has the same $s, than two months ago, I have much more shares, therefore more upside potential; so I'm not calling this plunge a loss. So, being this an alternative to a long term trade, I'll hold positions.