I identified this stock as a potential long set up last Friday (refer this post), however as can be seen from the chart it never triggered the long signal. Poor news out today means this is scrubbed from my watchlist. This is why I never try to pick the bottom of a market - you never know if a retracement is simply that, or the start of a potential new trend.
The system logic gives a stock a certain amount of 'wiggle room' and allows for fluctuations like the small move up over the last few days, while keeping you in the predominant trend, or getting into a possible new trend too early. No system is perfect, and you still can get caught in situations like this, however in this case it has kept me out of what would have been a losing trade.