StockPunk

Friday was a bit horrible. AMK declined nearly 30% before 9:00. I saw the signs of it premarket. I had a bad feeling about things the night before and realized I should have sold. I had several reasons:

1. A gut feeling of impending doom
2. The stock no longer qualified(for me)on the MACD (it had just gone below 0)
3. Friday was the day they announced their financial results.
4. The stock had been sputtering for about a week.
5. The stock was so thinly traded (averaging about 24,000 per day) that I knew my tight (3%) stop probably wouldn’t work.

All of my nightmares came true that morning. The good thing was that I was able to hold on until late afternoon when the stock started to rally back. I ended up saving myself about 12% by waiting and not panicking. Things could have gone the other way of course, but I’m glad they didn’t. I learned a lesson with this one and I need to be more cautious next time.