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.
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