Stop losses in this market...
I'm buying small chunks down every $1...
No stop loss is like a high wire act without a net. If you are wrong... *SPLAT*
But I think we aren't done yet with oil dropping - we are just playing a rally.
Buying 500 lots all the way down. A couple of bearish days on commodities and you get your money back at least. But the point is you pick an arbitrary entry lower and if you get in you won't bleed as bad and if you don't then you lost an opportunity but you still have your cash. If I had 5000 shares at 28.75 I would hold it because you will be back there in not time if in fact not later today...
I am currently over bought so if we rally today I will lighten the position and only hold a couple thousand overnight.
Do I know anything more than any of you guys ? No way. But I concur with Specboy's comment about the trend is sitll down...
The really fun part is if the down trend is vicious, then we see $32 / $35 HOD... If not, we do what the rest of the market does every day in every other equity that hasn't popped or dropped, we waste our time.
GLTA