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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