Yesterday I posted a blog saying downside potential for EBS is huge. I shorted EBS two days back at 17.99$, once it started reversing. I covered at 16.50$ yesterday taking 8.3% gain in 1 day. Playing it conservative and wanting to book profits, I covered.
However I missed another 11% drop today. EBS can continue its downtrend all the way till $13.75 where it might find some support.
Its frustrating to predict the right behaviour looking at the charts and still bailing out early. I guess this market is so crazy that if you dont take quick profits you will see your gains wiped out soon.
Rule: An important rule to follow here is that once you are out, never look back. Dont regret the decision you made. This potentially affects your game ahead and you end up making silly moves just to get back. No one can predict how high or low a stock will go. Everyone should have an exit strategy before entering a trade. If you stick to that exit strategy and you will just do fine.