This was a stop run for fools and suckers. Let them play me this morning. In my hind trader brain, I knew it was a fake out. But stops, stops, hard stop levels is so force fed into our DNA. At some point, hard stops (especially if you are not overlevered can be a hinderance). If I have a position off the daily, usually my entry is good enough where I don't feel much more drawdown than an ATR stop on 60 minute bar even though I'm trading the daily bar, so my hard stops are not really under a lot of pressure. This morning was more of a 60 minute violation that I've had all year, so I stopped out instinctively. I felt like it was a bad decision to do it, but I did it.
Still got a lot of dry powder. This morning cost me 3.90 vs. 5.40 of profits with the XOP/GDXJ profits Monday. Don't ever get it twisted.