What a day on the Street! Many portfolios got trimmed today. J.Jill, the stock I bought today was down to $15.05 the last time I checked. Energy was down too! All US Industry Indices were down. It is true that the Bull Market is getting "long in the tooth." (side note: When horses were sold, the teeth were checked to tell how old they were. As they aged, their gums receded and the teeth appeared to be longer.) As you know I don't forecast. I listen. Right now I am listening to stocks moving south. I won't hesitate to sell some holdings if the Market continues to breakdown. Lets hope the bloodletting stops tomorrow.
On a side note, I would like to mention that any "trader" is doing themselves a disservice if they are judging each trade as if it is their last. Back to my football analogies. The game is not decided by one play. The game is made of many plays by each team. Just because one team throws and interception does not mean the game is over.
So, be sure to base your trading performance on intervals of ten trades. Only then can you see if there is a true flaw in your system. Only then can you see a big picture.
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