Had I not pulled my ($1.22) stops off (seconds before they triggered) I would have been automatically selling into 63 cents. Instead, and under the influence of palpitations, I bought at 65 which has now dulled the pain somewhat...
I see now, how automatic stops will cause overreactions...
We all knew the news was coming, we expected it to be bad, and it was worse than bad.
Often, in those circumstances, counter-intuitively; the SP will rise. In this case though, that "Halt" prevented the fall on rumour that would have preceded the fact. Thus the whole fall on rumour, react to fact, thing occurred in seconds instead of days.
Quite surgical really - like having your testicles removed by a knife instead of the usual meat grinder...
CDA Price at posting:
83.5¢ Sentiment: LT Buy Disclosure: Held
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