11/14 Kelly Letter Topics
Weekly market review
The bottom holds
Big bounce volume
Recession projections
The magic midpoint
LevMark Timer holds
Crocs is dying
Hope for Goldman
Importance of retest
While I still think is a good buy and was a good way to react to Katrina, the market is disagreeing with me and a little too strongly for comfort. I'm placing a stop order at -11%, which is $16.91. With the price moving as quickly as it has been, that might hit very quickly.
As much as it hurts to see something like this, investors must always be prepared to admit a mistake when it happens. We can recover from an 11% loss fairly quickly. We cannot recover from a 50% loss too quickly.
