I don't blame anyone, just myself for overweighting.
After first hit piece I set up a buy order at 3:56pm for a few shares.
Then AFTER execution I realized I had added an EXTRA ZERO to the number of shares -- was distracted watching level 2 and trying to pick a bid price during volatility that day.
So right off the bat I owned 10X the number of shares, but didn't want to sell it after hours.
Next day I wanted to sell the excess on catching the dead cat bounce, but I missed the peak while I was taking my son to the bus stop.
Attempting to sell again later that day, I could not come anywhere close to making back my buy-in price, so I sold merely 1/3 of my position at a small loss. I thought I could always sell another day.
Then Muddy Waters' hit piece came out, lowering the price dramatically from the mid-16s to low 11s, and at that point I made ANOTHER mistake to average down big time (despite being overweight beforehand).
Lastly, a week or two later I dumped a bunch of OTC.BB stocks that had started to show weakness, and then put that cash to work in CCME on a day when there was YET ANOTHER hit piece.
So from one starting mistake with a decimal place, then inability to catch the bounce, then following up with betting too much by averaging down, I ended up breaking all the rules. Thus, over merely a one month period, my CCME position went from 0 percent of portfolio to 74 percent portfolio.
Uggh
