So I have a record of it, and for those that didn't catch my Twitter update, I wanted to let everyone know that I've put a stop / loss order in for all BAC investments, in all of my accounts, at $12.20 GTC (Good until Cancelled - 60 days). So that includes the Challenge Project. It'll free up more cash for myself, and at the same time, frees up the amount of cash available in every investing account I have to hedge with the SDS on.
But the SDS is only that. A hedge position, because if the market pulls down here because of the real mover and shaker (the credit markets), I expect it will be a very, very ugly time for the stock market.
So the orders are in and working. I also wouldn't be surprised to see me move a bit of cash from the savings account to the investing account, to increase the size of my hedge with the investing account.
I know I said that I would never sell my BAC stock until zero? But guys, what's going on in the credit markets really, really has me freaked out.
Edit: Sold out of everything at $12.20. -$144.60 on a stock who had all but destroyed their dividends. The Challenge Investing Account now has $124.60 in cash. More can be moved in from a slush fund maneouver.
Further Edit: Just transferred $39.06 from the Challenge Project Savings, to the Investment Account, leaving the Challenge Investment Account at $163.66 of cash besides the shares of KO and JNJ, and $25.00 in the Challenge Savings Account
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.