We are out.
Being unable or unwilling to watch the market all day means sometimes you get shaken out of a position right at the low of the day. This was the case in the model teaching portfolio, SPY stop, hit at the open. Since then, the market bounced as expected. Never the less, the stop worked as designed to limit the risk in portfolio volatility. If the market shows serious signs of resuming a sustained uptrend, you now still have capital available to re-enter.
An investor watching the market all day would have an advantage of pulling the stop, and watching to see what the market does before setting the stop again.
Check back later as we review the trade and the lessons learned in a complete video.