Tuesday, February 9, 2010
Taking Hits
The market has not followed through on Friday's reversal thus far and my account is taking a big hit. This is telling me that my bullish stance after friday may very well be wrong. I was tempted to close both positions yesterday but my hands are tied because of the PDT rule. I already made one day trade within the past 5 trading days so closing out the two positions in SPU and NEP that I initiated yesterday would have triggered it. Hence I will stand my ground and take my losses should the markets continue to sell off.
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I sold my two overnight positions early in the session and went to 100% cash. $VSAT I took a flat on after being up nicely at Tuesday's ...
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Although in some ways the PDT rule can be a curse in that it limits you from making more than 3 day trades in a rolling 5 day period. The li...
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