Market Down - Getting Burned Defined

I am big fans of the website www.motleyfools.com and their investment geniuses. My friend told me recently about their recent admissions of loosing tons in this recent market sell off. ( Down 2000 points in a couple of months) I have to admit my mistakes also.

I lost big folks! I lost 50% of one of my portfolios value in a horrible series of panic moves.

1) I identified the stock that was doing the best in my portfolio
2) Sold all the stocks that had less than impressive gains
3) Put all of that money into this stunner penny stock
4) The next day the stock tanked
5) I hopped for a recovery the next day and it fell even further

Mostly everything waslost in the two day drop and recovery of Biosolar. I panicked and sold at its lowest point. As like magic, it started to rise started after I stopped looking.

Heres what my portfolio looked like before the crash. It will never ever look like this again. This is the eggs in one basket mistake!