Centamin is down 14.7% from a high of 62.2 on 1st April to 54.2 today and Autonomy is down7.3% from a high of 1421 yesterday to 1324 today.
It's never nice when the portfolio takes a battering but all you can do is re-assess the current situation and trade on.
Autonomy is still in an uptrend and todays sharp decline was on low volume, indicating no real conviction in the move. I have moved my stop up to 1,300, meaning whatever happens I will collect a small profit.
Centamin is also still in an uptrend and fell aggressively yesterday in-line with the decrease in the gold price. I've moved my stop to 50, which represents a small loss.
I am learning all the time about how to trade over a long time frame and certainly with Centamin, booking a profit when the trade was 18% up, now seems like a missed opportunity. But I need to keep reminding myself that this is a risky play and that the market opinion of this stock is still postitive.
Lets see what tomorrow brings.
