Still getting it wrong !

 

The substantial “long term” position, opened yesterday, on Excite (XEL) hit its stop loss this morning when the SP dropped over 5%.

 

Clearly I had thought that a stop loss of about 5% would have been prudent and unlikely to be hit in the light of the great RNS just issued,. Wrong!

 

As I write this the SP is planing along the level of that stop loss, which confirms that it may have been just that little too tight for a share as volatile as this one.

 

If it heads on down, I’ll still reconsider another position on XEL.

 

Current profit (LOSS!) -£1.45