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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