No fundamentals have changed since the 12-15% drop after earnings but I have to hand it to the power of rumor and big money to bring it back the 15% and another 25% on top as if earnings were stellar. Is there no decency.
Anyway, congratulations to all who played this right.
In the short run it doesn't matter if you're right or wrong as long as you have the funds and influence to back it up. First you get the money, then you get the power. Too bad I have neither.
Still expecting this to be in the 40's come the end of January, but I've been stopped out once again.
I would rather lose it all than allow price action to force me out of a trade. Stops are just a way of losing your money more slowly. The only way to make money long term in the stock market is to never bet more than you can afford to lose on an individual trade, and only change your mind when the fundamentals prove you wrong.
Stopping out of a trade is exactly what the floor traders want you to do.