Hey all,
The surge in stocks has hit a snag this AM and I am stopped out of our long position on SPY with the break of the most recent lows at or near 117.03. Loss on trade was just a little over $100.00. Considering we don't want to risk more than 5% of our stake on any one single trade, $100 represents less than 5% risk threshold so I am happy just moving to the sidelines. Having said that, I still believe this market wants to move higher and will continue to look for a re-entry on the position going forward.
That's all for this post,
Brian Beamish FCSI
The Canadian Rational Investor
the_rational_investor@yahoo.com
the-rational-investor.com
All appropriate disclaimers apply, DO NOT risk capital in options trading that you cannot afford to lose.
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