I'm sorry for your losses. It hurts and I know. I've been there too many times. This is why I was preaching the capital preservation. I don't short stocks and I never have. I think shorting should be illegal. Either buy the stock or not. The SEC has allowed the retail sector to be victimized the way the current system operates.
The CEO of Overstock has testified numerous times about naked shorting. Companies can easily have more shares of stock sold than exist in the float. Since lobby groups run the country and congress operates on bribes and insider trading tips. They're fine.
The low of the year is $11.22 and I would use that figure as a final stop gap. If the stock goes any lower than that, it could really go into free-fall mode. The markets are completely corrupt and controlled with the SEC looking out for the interests of the hedge funds, not the individual investor.
"I think shorting should be illegal." HAHAHAHA - another clueless ignorant baby. You buy junk like KNDI and DANG, and then point fingers anywhere but inward when they fall towards their true valuations. And you're actually citing Patrick Byrne - one of the most unethical CEO's around - to help support your absurd opinions. Ugh... you're the WORST! Seriously - you are.
Unless you want us to continue taking your money, I'd suggest giving up on active investing. It is for elite minds ONLY. But you won't give up, will you? Ahhh, what a glorious phenomenon!
I am not selling my shares even if they reach they go below $11.22... If all the longs do the same then let us see who the real bagholders are.... The ones who sell non existent shares or the longs who own real shares and cn ask any price they like?