Today was FerroChina's Day. A beautiful comeback. The chart says it all.
There was even an opportunity for people to jump in at $1.75 this morning. There was a chorus line of brokers screaming buy recommendations. Its amazing that it didn't punch thru $2.00. But a 10%+ climb on a single day is still pretty good.
I should have got in - but I was still feeling sore over my loss last week. That's what u get when u look too closely at the stock price and also when u don't follow the 2% stop loss rule.
I just wasn't able to standback and see the larger picture- the daily volatility just scared the pants out of me.
Yeah... this is the Big Picture. What next? More positive movement I reckon. But I had to get some distance from the stock. I just wasn't able to be emotionally detached from it. Sounds strange, I know. But that's the life of a trader.
In hindsight I should have observed it as it hit $1.60 and bounced around- it did it before when it smashed pass $1.40 during that mini-crash a few months back.
Then purchased some at $1.60+ and then some more today in the morning. It pays to try and find a good price to get in= everyday people are selling for various reasons and good opportunities abound.