Dropping Like Flies
Three more of my stocks stopped out today, iShares Brazil (EWZ), Atrion Corp (ATRI), and Helmerich and Payne (HP). EWZ had just been opened this week, it’s a loss, ATRI was bought in June under 92 and stopped over 103, and HP was opened in mid-March and around 30.50 or thereabouts, it’s booking a gain over 3 bucks. These leave me at 85% long, including the SPY buy. Since EWZ stopped out, I will buy a 5% weight in iPath India (INP) to take its place.
I got greedy and thought the SPY might gap and run today, when I should have stuck with the “2-day RSI of 10 plan.” Oh, bother. I’m in, but the original plan would’ve had me in with a lower price and a looser stop, and only time will tell if that would have been better. I will keep a (moving) target on the chart to sell at 2-day RSI of 70 and a trail that is the lesser of either distance to target or 2.50. Rather than bore y’all with posts about it, I will update the chart on the watchlist every evening ’til it exits.
Also, I’m tempted to put that remaining 10% cash raised today into another bit of SPY - if I do that, I will leave a comment or edit on this post and mark the chart, rather than make a whole post about it.


July 26th, 2007 at 6:22 am
Gonna do just the trail - calculate distance to RSI of 70 and put that as the trailing stop. If it runs, this won’t limit profits.