SPDR S&P 500 (SPY)

[leftyg]

Fox..just an opinion about stops..especially tight ones. I know it is supposed to be the conventional wisdom to use them..but I have found them to cost me more times than not.

For those who cannot watch the market action, they do make sense.....in my experience, I often would get stopped out, as profit-taking by some players occured and the prices reversed..only to see the original trend continue.

I think stops make the most sense when applied to a long trend (multi-week), and the trend is obviously getting long in the tooth. Moving a trailing stop, say 3%, below the price seems like a prudent move in those conditons.

I may get slings and arrows for this opinion, and if stops work for you, by all means use them. Regards.