massive falls in the share price are usually followed by a 10%...

massive falls in the share price are usually followed by a 10% rise in the next trading session.
DYOR
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Even if that happens 10% rise at the current price (.43) is four and a half cents, which makes it still under 50 cents. Even if ELD was to jump by 30% tomorrow (unlikely) many of shareholders would not be happy.

My reasoning for getting out this morning was this;

- even if ELD recovers in 2-3 years from today's lows and even if I average it down by throwing in another 50K, I still would need to wait all that time based on a speculation. I thought I would be better off to invest the "leftovers" into a blue chip stock that would at least pay me some dividends.

A potential breaking even or making any profit in this stock would mean (besides the aforementioned time frame) I would have to ride it all the way up to $1.50-$1.70 level. With all uncertainty around the globe (potential double dip recession talk etc.) and just as ELD may have recovered a bit from this hammering, the next one would follow. I prefer a knock out in early rounds to being knocked down a number of times and then finished off when the whole arena is empty with no spectators.

So, I said to myself, stuff that!

After cashing in the leftovers I have repositioned some of it into QBE, ASX and NAB.

43.5 as we speak.