Stock Specific Trade Management SPY: With the Dow up 160 points (0.60%) just before the close, SPY is break-even along with the October $289 call. Nasdaq is down for the day. This is not good, not good for the market, not good for our calls. They have reached only as high as +33%, so I assume most subscribers (who took the trade) are still in. Let's move our stop up to break-even, I just don't like the way this trade is unfolding and don't want to take a loss. Stops @ 60% We have recalculated returns using 60% stops instead of letting trades run into expiration, thus taking a total loss on the trade if it doesn't hit any profit targets. The improvement in overall returns is substantial. If there ever was any doubt in using the stop, it's now gone. There will be an occasional trade that will be stopped out and then go on to a big win, but those occasional missed gains are more than offset by the savings realized by cutting losing trades short. It is now our official policy, exit trades if they incur a 50-60% loss. Expiration We will be moving into November expiration for most new trades, with the exception of any signals in VXX where we will be probably be using the weekly expiration to trade any Buy Signals. Housekeeping My apologies for the tardiness of Monday's update, we had technical issues (not our fault). Those issues affected our trades table, which will return tomorrow.
