Our first trades were placed at market open this morning. We chose:
AA (Alcoa)
AAPL (apple inc.)
C (Citigroup)
HOV (Hovnanian)
SIRI (Sirius XM Radio Inc.)
QQQQ (Nasdaq Powershares Trust)
Each trade was accompanied by our basic stop loss that has been set at 20,000 loss (2% of account equity) for each position. However, since we had no position sizing technique, each position was opened to be valued at 50,000. This is an obvious hole in the risk management system, and one that should be addressed this week.
You can see the portfolio at http://www.updown.com/Losers-non-anon-anonymous/group/4224
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