If you bought ANR or any coal stock based upon a looser EPA, thanks to a potential Romney win, you must sell coal today. You must sell, not because the share price is doomed and it’s going lower–but because the catalyst for higher share prices is gone with the Romney defeat. This is the crossroads between making it a trade, based on a strong catalyst, and making it a longer term investment based upon stubbornness.
I made a ton of money in ANR over my past two trades, not this one.
I booked the loss this morning, market orders, not giving a fuck about where it was trading–because my initiative has been lost.
Also, I sold out of DECK, as promised, taking advantage of the post earnings dead cat bounce.If you enjoy the content at iBankCoin, please follow us on Twitter