Wednesday, September 10, 2008 2:24:05 PM
Sorry, Roy, my first chance to answer.
You know me. I always use stops. What I was saying yesterday was that I was entering a long term position that I wasn't interested in stopping out of yesterday. So I wasn't placing a tight stop that might take me out. I want to watch the position for a few days, let it bounce around the $150 mark (which I believe will represent support...I might be wrong about that), and then set a stop. But I'll watch with a looser "mental stop" in mind, of course. I'll never lose more than 5% on any entry.
Hope that answers your question.
Dave
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