A limit order for an extra 1% allocation in TriQuint Semiconductor (TQNT) at $6.78 has just hit. This fills a small gap created in late February, and takes us just over the 50 day moving average. Poor stock cannot get any traction despite what I consider good news almost every month. Strictly a trading stock as trends don't hold.
If the stock bleeds through the $6.50s area I have to cut back, but for now am happy to buy the pullback.
I am covering the American Superconductor (AMSC) short created March 4th, for a 6.5% gain. While I think more downside could be ahead, Larry Summer has me frightened of my own shadow in terms of shorting. Or better put I have to take my gains quickly; this was a 2.5% allocation.
I will reshort AMSC on any bounce, but in the meantime am looking for (2) new candidates to short in individual equities that are just now breaking down.
Long TriQuint Semiconductor in fund, no personal position