Only 2 home dogs today and neither are plays…..So we are getting a few days break from baseball plays.
The markets are up over .5% after gapping up almost 1% this morning.
Not much more to add.
I did receive the following comment:
Have been with you from early on and looked forward to your selected plays. As a former member on wall street, I traded a great deal and find that gambling but in what they call a white collar acceptable way. It is not a lot of sick compulsive guys day trade and get their head handed to them. There are a lot of very good traders out there and I learned to use the 10% rule on the downswide and get out. Let the profits run above 10% then if you are satisfied above that cash in. I am really writing this as a adios, since I no longer play the market and like sports and you seem to be spending a lot of time reading charts and not paying too much attention to sports, I will move on. Good Luck with all your adventures”
Surprisingly this is the first email I have receive with some disenchantment with the handicapping picks. Usually a large downswing brings out some pretty tasty comments:)
I pay as much attention to sports now as I always have. Its merely a downswing and now not many plays. Over the years this has come about before…so really nothing different.
As far as putting on a 10% stop loss. There is nothing wrong with that if that is your risk tolerance. The only thing you need to keep in mind is that with mean reversion strategies a stop loss over a long period of testing decreases your expected return.