Roy, I have to agree with you on the use of stops. I don't set them too
tight in fear that I will be stopped out and then miss a big rally. So I now
use a 5% trailing stop. The market is too volatile for 2%. If I decide not to
set stops and I am long, I will buy out-of-the-money put options as a hedge against
a big decline. I did at one
time publish a stop set point, but I think the set point that you need to use
will depend on your risk tolerance and other financial factors.