SPY

Hi Mr. Marty.

My largest position is in SPY and have a pending % Stop-Loss of 3%. Now that the ETF has breached it post high and is currently trading 2.74% above its daily 21 EMA. I wanted to enter a more conservative stop-loss. Perhaps you can suggest a better way of managing my gains? As always, thanks for sharing your wisdom 🙂

Jay,

First of all....CONGRATULATIONS! We must celebrate our successes!

I recall you asked a question regarding this ETF a few weeks ago?  I may be mistaken? But, your entry price is critical to your stop loss. Obviously we cannot take more than a 5% loss. However, if you have been holding this ETF for weeks, and it is your largest position I imagine you have built some nice gains. I would let it ride as the indexes and leading stocks can go much higher than anyone may think. It just broke out of a base, and I believe it is going much higher.  If I were to place a stop-loss it would be below last week low of $591.89!