Damn it. A trade gone sour. Ferro looked like it was about to rebound. But the bastard took a dive today. I got in yesterday when it spiked up on good buying support - at $1.68. It seemed like a good day. Plenty of strong buying support and it also had a technical analysis buy signal. But looks can be deceiving.
When it breached the 2% mark, I ignored it as market noise. But when it started hammering away at $1.63 today, I realized I couldn't ignore it. If it falls pass $1.60 it will fall away fast. I dare not hold on. I sold at $1.62, ouch. That really hurt.
It could still rebound off $1.60 super fast. But, for now, I'm putting Ferro in the too hard basket - same with Sunvic and Genting.
Also took a loss on Genting when it came off today and went pass $1.00. Got at $1.04- sold at $0.995. Ignored the sell signal when it hit $1.02 and got punished for it. Never ever made money on Genting shares- must be a sign of some sort. hahahaaaa.