Nevermind.... Liquidate Steel or at least cut your stake in half...
Crap.... I've done the math and looked at the chart and the situation with my steel stock is that it's going to probably dropped to about $7 a share. That is if this momentum continues.
So.. Do I stomache $7 a share? Or do I bail out tomorrow first thing in the morning, stomache the massive loss, and then what? ? ? ?
Going back to an earlier article I wrote.. The only sector to invest your money in is the "FOOD and Beverage Sector." That's it. beverage sector or bust.
So.. I guess.. I guess I can live with dumping half of my stake or perhaps ALL of my stake and throwing the cash into Dr. Pepper Snaple Group.
Of course.. I still stand firm that this massive sell off on Steel and all of this crappy bad news about China Iron Ore pricing....It's all meaningless short term stuff... Hold the shares long enough and it will go back up.
But.. I don't think I have the courage to do this:-(
P.S. I am beginning to hate the stock market:-(