Limit/Regulation Clarification

[Mako19]

I understand that there is a "Daily Bag Limit" and a "Possession Limit."

Daily bag limit is self explanatory, number of fish you can harvest in one day.

My question is about the possession limit. This is the number of fish that you can have in your possession if checked by a game warden and not on the water.

So, say I am spending a week in grand isle during June and will be targeting red snapper.
Does this possession limit, which is two day's bag limit for 2014, mean that we must stop fishing once we have caught two days worth of limits?
That seems unreasonable but I definitely do not want to break the law.

Thank you in advance.