Leading Stocks Crush The General Market This Week As IBD 100 Soars 2.2% While The NYSE Fell 1.3%

May 12, 2008

Who am I kidding I can not possibly pen a piece this weekend after that much driving in a car there and back and a night of rain and wind that thrashed our tent around making it a hellish night of sleep.

Basically, you are reading the writings of a man who has had six hours of sleep since Friday and there is no way anything that comes out of my mouth can possibly make any sense. However, as soon as I got home, I noticed a horrible trade made by a subscriber in the platinum chat room and also noticed he placed YET ANOTHER hard stop on the books after a whole one hour plus conversation this week about not doing this. What followed was something from the heart and something I was very serious about. I only hope the person that this is about realizes how important it is that he change immediately the way he trades or else the guy will be chasing mediocre results for his entire life. Considering that is this subscribers passion, it doesn’t bode well for a happy fulfilled life when you constantly set hard stops on the books on positions we are trying to hold for weeks, months, and years.

If you are at least a gold subscriber you must go here and read this lesson. If anyone reading this is using hard stops, have set hard stops, seen them get hit, and then watch your stock run and run and run and run, this is for you:

The perils of hard stops on the books and why I have not had a hard stop since 1999.

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