[Tryst]

1) Since the data shows the US in a Stage 3 and we should be acting "more defensively"... I have three major positions (holdovers from IBD) that have under-performed (one's down 4% and the other's down 9%). My conundrum is that both have broken trend but neither have violated the 30 wma (although my gut tells me that it will happen soon enough with the way the market is going). In your opinion, would you hold and wait and see what happens or cut ties, take a loss, and move forward?

Like, Isatrader stated, it is ultimately your decision.

Though I would ask myself this if (and I am a lot) in your position. Are you clinging onto your trade in hope that it will bounce...although you do have a valid technical indicator holding out to stick to. Though if everything else around the trade is bad, then you need to be emotionless with your trading and make the call.

One of many useful tips from Mark Minervini's book, 'Trade like a stock market wizard', he states that if soon after you place a trade and the trade doesn't act as you expected it too then get out. If the trade changes direction and then does what you initially expected it to, then you can always get back in.

That is easier said than done mind as I am in a very similar position with PGD. I am down about 10% and it is right on critical support. I know if this breaks on a weekly close I will shut out my position.

The Mark Minervini book is brilliant I think as it touches on some core trading traits which I can relate to in past experience. I am meaning to write a review on it under the journal section soon.