I had added back to Riverbed Technology (RVBD) just last week in the $29.80s so much of this stop loss (60% of position) in the $28.40 area is the offset to that position. (4.5% loss) It just triggered in today's selloff.

id=BLOGGER_PHOTO_ID_5472701396544884770

Looking at the day's range it appears my price was the bottom for the day!

This will leave the fund with one position of serious girth, F5 Networks (FFIV) - longer term readers might recall the day the market bottomed (or the previous day?) in February '10 the last 3 of my material long positions all were stopped out. Not saying it's the same situation now but we're seeing a lot of stocks break key (50 day) support.

p.s. I plan (i.e. I am selling into the close) to sell the SPY puts I put on earlier in the afternoon into the close, not because I think the market is going up but I hate the premarket markup which can ruin a position for no good reason. NAV for fund should be near all time highs at the close today, so after a struggle about 3-4 weeks ago, the past 2 weeks have been a positive - especially relative to the market.

We still need to (a) retest recent lows and (b) have a very ugly morning of panic - to put in a more believable bottom but with the premarket games of mark up it is hard to get this to happen. I nice -2% premarket would actually be much more constructive to wash out the people we need washed out.

Long both names mentioned in fund; no personal position

x