JBX Jack in the Box

JBX Jack in the Box up on earnings. JBX saw a pop on Monday after TV comments by Jim Cramer, and had a nice pop at the open today (3-month-chart).

Another Cramer mentioned stock, and one that I had a position in, AAPL Apple, slides on news of AMZN Amazon launching a music download service. I covered my short near the all time high of 110 on Tuesday and now it is in the 105 range :(.

Mistakes are average, losses are going to happen. No one bats 1000, except perhaps a few specialists that get out immediately after they get in and have access to the order book. The only others that bat 1000 are those paper traders that post their entry and exit well after the events have taken place.

Traders, in particular, need to recognize that losses will happen and not take any one loss or gain to heart. It still hurts when something like this happens. The best thing for a person to do is look at the entry and exit objectively and try to learn from the experience.

My personal style is to cut losses, usually very quickly. Other traders and investors can be, and have been successful with other styles.