Stops tripped. Time to hedge or exit.

Posted on Jul 03, 2010 by in Letters

The most destructive habit -- or decision, or characteristic or event or test of character-- in the markets is to contemplate  a stop long set, and to reconsider it.  Actually it's ok to reconsider it, but it's not ok to decline it.  Only if it were set in error should it be negated.  Error means a glaring error in procedure, or in computation.  The present stop is a valid stop.  Those who ignore it will end up like the owners of Enron.  The stop at 9729 is violated.

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