At the moment…a loser.
Earnings were average, guidance was horrible. Stock tanks 16%+ currently. At the moment I’m letting the open settle and then I’ll have a look at how bad the damage is.
I’m starting to manage the trade now. It’s still ugly, but I’m reducing the damage. What I really need is a bounce in the price. That probably won’t occur [if it ever does] until about 1030am US time, so, right about nowish. If I get a bounce, then things might work out.
The collapse in price is slowing now. At its peak [so far] price collapsed 24%. The market may adjust price back a little higher. ATM I need about $22.60
Market is bouncing a little here. I’m starting to make back some losses.
Added to my position. This may be reckless trading. It’s definitely a gamble. Market really needs to hold here. Anything above $22 and I’m sound as a pound….below and it’s ugly X2
I think this is [was] the bottom today.