Friday, September 17, 2010

Bookkeeping: Stopped out of Caterpillar (CAT) Short

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.

No position


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