Don't be afraid to take a loss. You can always go back later--after the stock has bottomed-- and make the money back. But to sit tight and allow the thing to "mow you down" as you so aptly put it, is a mistake.
I have notice in the last week or two of trading that things are getting very strange out there. Six months ago, when the Trannies were up 50 points and the Dow and the Naz were flat, you could count on both markets rallying later in the day. Not so anymore. FDX, UPS &c. are all passing on their higher fuel costs with surcharges, so that their earnings continue to look good. Meanwhile at the retail level--where the rubber meets the road--the end users, like Wal-Mart's customers, are getting whacked with those expenses and retailers stocks are behaving accordingly.
In effect, the stocks of retailers are acting as the perfect barometer of the drop in purchasing power as the fuel costs are offloaded onto J6P. Couple that with a drop in disretionary income-- because of the rising costs of a whole market basket of other items--and you have the makings of some bad times indeed. Wait until after the election when new taxes and a military draft are added to the mix!
schloss
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