We restarted a position in TriQuint Semiconductor (TQNT) Friday in the $6.30s on what appeared to be a breakout. This has since failed, reversed, etc. Therefore I will be cutting back the position by about 2/3rds... I also am eyeing a small gap below $5.80, which I also saw Friday - but the price action was so strong I thought perhaps it would be one of these run away movements.
Not this time.
We'll take about a 5% loss on this portion of the position and re-assess once we see how the stock acts around $5.70-$5.80 if and when.
Long TriQuint Semiconductor in fund; no personal position