Well, today I violated most of the rules I've learned in 38 years
of trading.
When SOLF was being popped around in the pre-market, I realized that
they would almost positively take it under 30 to clear out some
nearby stops. I wrote the orders to sell it and when the market
opened, I watched it fall like a stone. Now, inside each of us who
have been doing this for a very long time resides a little intuitive
voice and my little voice said "do nothing" The stock plowed
through 30, through 29 and then steadied. I had no feeling of panic
or loss or wrong decision .. I just did nada! How this works out
will not be known for a while but of all the rules I follow .. rules
I set for myself and which have stood me in good stead, the rule
about listening to that little voice is high on the list. I can't
teach it or explain it or even define it .. intuition is a plus in
this game and I don't ignore mine.
Several people have asked me to keep them up to date on my activities
with this particular issue so I have done that but I will stop these
posts now and only report when I sell the position. I apologize for
boring many of you with it and especially the commodity traders who
couldn't care less about some equity.
Bob