Its not a Bright World after all!

Nothing can describe the digust with myself with my trade in Bright World (I will spare you what i think about its management). I entered the trade yesterday morning and cut at pre-open this morning. While my equity account is still positive for the month of August, i was actually very angry with myself for this stupid trade. Usually i avoid holding a stock for its result announcement unless i am very sure it will exceed the expectations. I pulled the trigger in Bright World for the following reasons:

• My good friend visited the Company in June in China and gave me a glowing report on the management and company's operations for Q2. His view is that the company will likely exceed the expectations of the analysts.
• Most analysts painted a rosy picture (DBSV and OCBC).

What came out was beyond expectation (you can see the company keep its emphasis on 1st half result and not the Q2 result). The results for Q2 was totally unexpected. The top line hardly met 50% of the analysts forecast (downward revision soon?) and the bottom line for Q2 sucks!!

Last night i already know i would need to 'cut' this morning.... and here i go, cut cut cut. :( No hesitation no second thoughts...