Sell WFR, Sell BNI

Sell WFR, Sell BNI
As the market tumbles, my gut instinct is to buy the dip. I think about past times I have wanted to do that and how that often turned out badly. So instead of buying, I sell and take my tiny profits, buying back the short puts on these two stocks.

My puts were still well out of the money, and there is a strong logical argument to stand in there, even if the stocks continue to decline. As bad a streak as I have been on, seems much wiser to follow the rule: never let a profit turn into a loss.

I continue to watch that list of tax loss stocks that I mentioned earlier. It includes names such as WAG, NYT, CC, KMX, WMT, LEN. A successful retest of the lows on some of these stocks might make a decent entry point. Other stocks that I might buy include MCD and T.