Are you making money? No way. Yesterday CMK was downgraded. Also Rio Tinto stopped its coal production later during the day. Why didn't the SP dropped significantly? Elementary Watson.
Institutions loaded up on CMK when it dropped big and there was no way they would dump and would get licked. So they sold by holding the loss to a minimum. I sold the whole lot and took a minor hair cut. Today is another story. They first sold by holding the SP close to yesterday's closing before bringing it down to reload low. I bought back at .255 and waiting to buy lower for the next two weeks.
Hey I can play the Big Boys' game. I sold at .265. The market is going to be shaky for quite a while and I will take profit at every opportunity. Good luck.