Cummins Engine (CMI) is breaking down below the 50 day moving average so we're cutting back from a 2.0% stake to 0.3%. The stock price is low $66.20s. We're just sticking to this same game plan and cutting stocks HARD the day they breach support, even if it means we are going to sell some stocks unfairly and/or they reverse and bounce on us. Until fundamentals are again respected in US stock markets, we'll stick to charts. We usually take a very incremental approach, building positions slowly or exiting slowly but not in this market.

Cummins is now trading at forward PE of 13 for 20% type of growth, and wonderful exposure to overseas markets - where they have been many years before the competition. But those are fundamentals and it's beyond the point. I see so many "cheap" stocks beaten senseless while people run into money losing operations such as airlines - it's gone from bemusing to a bit of a joke. But it is what it is, and I don't fight armies of quant hedge fund computers. (we tried for a few months; it does not work)

Shoot first, ask questions later continues. We'll preserve capital for the day sense returns.
Long Cummins Engine in fund; personal position