Worst Day Ever

I have to say I don't think I've ever taken a hit like this. Not so much because of the market's move, but because I am so heavily invested and exposed. I didn't see a reason to panic here, and still don't. I tried to take advantage of it and it has cost me.

I still have one more trailing stop loss order in for CMG. Except for PVH, where the tsl order didn't execute correctly, the other positions are new after I plowed the cash for earlier stop loss sales into them. Oopsies. Unless my perception of the situation changes, I plan to hold tight and catch the rebound that will come. Lets hope that capitulation occurs quickly.

I suspect that tomorrow morning will probably be pretty ugly after everyone gets home tonight and checks their portfolios and 401(k)s. The towels will go in tomorrow. Mutual fund redemptions will follow. The remaining stop loss orders will avalanche.

DNS -513, -137, -60.

Trades:

My play on HUN didn't quite work out when it dropped 25% off the bat. It started recovering so I bought some calls on it. Later a low-ball limit order filled since it dropped 30.5% for the day. Good pick, eh?

CMI calls were sold, -31.6%.

VRTS and TW shares hit their trailing stops; +8.8%, -5.3% respectively.

Reversal alerts: (57). Most seem to be false positives from the hlr script. The reversal scripts don't fare well in a falling market.