While the market has done nothing today Caterpillar opened down and has spent the rest of the session rallying. I put a very tight stop loss of only roughly $1 on the name to avoid any damage so I have now been stopped out for a just greater than 1% loss on the short position.
As I imagined by the time the mkt reverses down the computers will have snatched away all my stop losses allowing little participation in the downside.
I will shop the losers list this weekend to see which looks interesting to put on as a replacement after the "surprise" rally Monday morning.
Friday, September 17, 2010
Bookkeeping: Stopped out of Caterpillar (CAT) Short
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows