What a wild wide with L&L Energy (LLEN).  As I pointed out when it was purchased a week ago Wednesday:

It's a small cap Chinese name so can rise or drop 10% on any session for no particular reason

And true to form in the time I bought it, it jumped sharply in the first day or two, and then has dropped sharply reversing all gains... all on no news.

I had a stop loss to dump half the position if it fell below $11.40 which happened this AM.  The stock has now fallen all the way to the 50 day moving average, where it is currently resting.  If it does not bounce here, I will dump the rest next week simply because it's not acting well.

I don't think there is any specific news or reason (the company sold a small subsidiary today)... as I wrote in my original piece on this stock, I doubt it was held in strong hands and when a stock full of retail traders begins to break down they will leave, especially the momo types.  There need not be any change in the story.

I took about a 9% loss on the half I sold and the rest sits at a 13% loss.  This is really the only losing position I am sitting on.  (I was +8% on the position the day after I bought it...that's how quickly these small cap Chinese stocks can turn on you and why they are not to be used as a base for a portfolio, only as speculations)  I still like the story.

p.s.an aggressive trader can buy the stock right here at support and stop out if it breaks down.

Long L&L Energy in fund; no personal position