I got wacked today by SQNM. was hold some at 6.24 when it got halted. I bought more at 2.97 in the after hours and sold everything in the premarket for a nice sized loss. What irked me the most was the stock ripped out of the gate and I could have halved my lost if I just held on for 30 minutes. I exited at 3.34 and the stock never saw that price again after the first 2 minutes of trading. I was spooked by the downgrades to .50 and 1.50. In the end they may be right, but for today with the shorts covering and the bargin hunters and non-believers buying up stock, it was a perfect opportunity to trade out of the loss.
This loss was my fault, as I had planned to exit this positon for a few weeks now and had many opportunities to. I really should have dumped after 3 or 4 spikes above 6.10 were smashed with selling over the last 2 weeks. In hindsight it was a good sign and I will remember if for next time.
I has chances to make back the loss today but was not into it and took time to relax and go see my daughter run a cross country race. The best lost money ever spent.
I'm re-focusing now and plan to make back the loss and some by weeks end.
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