Sorry was not able to update yesterday as I was busy. Anyway, I have cut my long positions on market open yesterday. No regrets even if the market rebounded today as we DO NOT know that the market will rebound today.
What IF the Dow dropped another 300 points? Then you will be devastated and would not be able to sleep for the whole night!
The question of the Big IF. What IF this and what IF that. In this realistic world, there is no IF. Either you do it or you don't!
When you cut your losses, your loss is realized and you preserve your capital so you will be able to come back and fight another day. The greatest enemy is YOURSELF. You are worried that IF you sell now, it will rebound.
Like the Chinese saying, IF there is IF, there will not be any beggars. :)
Opened Positions
Closed Positions + P&L
ChinaAngel
sold 40 lots @ 0.675 -$800Lian Beng
cover Shorted 40 lots @ 0.44 +$2400
Lian Beng
sold 40 lots @ 0.425 -$1400Penguin
40 lots @ 0.245 -$600