Pixelworks (PXLW)

Bottom line
-8%

PXLW Oops! PXLW had taken a dive in March, struggled back, and finally broken out the last week of April.

This was a case of jumping too soon. I bought on the day it broke past the $6.50 level. It was bound to come back down again (most probably), and it did so with a vengeance at the beginning of May. The size of the drop scared me off, and I bailed. (This pattern should have been familiar to me: PNG)

Because I bought at the top of the leap upward, my loss limit of 8% was easily reached in the debacle on May 5^th.

Lesson: Right idea at the wrong time.