What a day. After nearly gaining everything back from yesterday, I ended up losing MORE than yesterday at the close. Two of my stops triggered--AZZ and CPA. It appears selling KRSL was a good decision since it backed off another 16% today. Apparently the third quarter results weren't as good as people were expecting. I wonder how much of yesterday's decline was insider selling.
Things definitely are looking sloppy now, and I'm losing my confidence in this market. I've got stops on everything now and I wouldn't be surprised to see most of them trigger by Friday.
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You're doing the right thing having stops in now. Only a few big caps leading, everything else is correcting. It could be a repeat of last years May to August correction again, Sell in May and go away. I've stopped out most of my positions already.
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