Eurasian Natural Resource Corporation, Nighthawk Energy
Eurasian Natural Resource Corporation - gapped down over the weekend - due to selling down to £4.60 - a price low. Buy sell pressure is even so does tend towards buying. Watch for learning and interest.
Nighthawk Energy - down to 46p - even more value...Buy. 3% requirement achieved early morning. Still buy pressure so don't sell just yet.
I am pleased that again I have picked a profit stock but may not realise a profit for holding too long. I did this based on overall buy pressure but perhaps should have discounted those trading both sides of the market - then the pressure was to sell. This though is also learning.
There was also weekend news about mining and commodity stocks falling which also would have countered against ENRC. Stop loss for Nighthawk Energy triggered but will hold to recover misjudgment re profit exit. If I had a trailing stop I would have locked in profit e.g. would have sold soon as price dropped - so even though did not discount players on both side of market would have gotten away with it - had I done this I would hav made about £165. Against that is managing the exit by reading buy sell pressures. Today I made a loss doing that but because I did not discount those on both side of the market.
All of the above in the context of the FTSE 100's biggest ever points fall with not one stock in the 100 finishing up!
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