What I like or love about most people that trade stocks is that they always tell you how much they are making or how great their last trade was but never show you. If you really want to cut to the chase with these hero's, ask them one simple question and that normally ends the conversation. Can I see your profit and loss statement year to date? Most will give you a deer in the headlight look to which you just smile and walk away. Without that data, it's just words.
Today the stock market was down .8 to 1 % on most indexes. Since those indexes are made up of several stocks, it doesn't seem so bad. So when you own individual stocks, it sometimes can get brutal. The 5 stocks that I show above are all owned by me and they were all down. The range was .5 to 4.3%. Ouch! I really only had one stock get pounded into the ground and that was DMND down 4.3%. The rest were 1.5% or less.
As you click those stocks above you will see a green dotted line which represents my entry price and then a solid red line with a flag showing my trailing stop. None were hit today and I can only hope that this is just a temporary selloff that will rebound tomorrow. I was just starting to digout of my last hole, so I would like to keep that going. The one thing that has me concerned is that the Dow30 and Transportation are starting to tank and that could be a sign of things to come in the very near future. Oh, we also have Uncle Ben speaking tomorrow. I expect that he'll do nothing and I expect that we might have another selloff because of that.
Below is a chart of the S&P500 and it is starting to show signs a warning is warranted. I use a Count Back Line to help me take the emotion out selling stocks because my discipline is not always the best. But when it comes to my retirment money, I like to stay on top of things. You will see below that we are approaching my first warning level and that is the Count Back Line in Red. Price is stll above both the Exponential and Simple moving averages and both averages are still rising. Lastly, price is also above the current green uptrend line. I would have to see price close below the 50's and break the the uptrend line before I would pull my retirement money out of this current market uptrend.