My link to the side, yeah, the Jonathon Hoenig one, yup, click it.  Read through the archives (which will take you a considerable amount of time) and you will have a perpective on the proper way of position trading (alliteration unintended).  This man is a Capitalist Deity in my opinion, I freaking love the guy.

So, forgive my bias, but he is a must visit.  Look through his comments, I always get a laugh reading them.  Seriously though, there is a wealth of information sitting there, for free, use it!

I will be taking much from Hoenig in this blog since him and Ayn Rand are my biological parents.

“When a stock drops from $50 to $25, I’m not of the mind that says it’s a great indicator it’s headed up to $60 anytime soon. ” – Hoenig.

 By the way, just as important for position trading is the Phantom of the Pits link.  I will comment on that later.