5/2/14

Decent day for me in the market.  Covered a little and bought some more.  Market had a crazy drop in it today.  I think it was in the neighborhood of 50 pts in the nasdaq.  It looked ugly on the chart.  Glad it recovered and my stocks did as well.  The crazy movement for me today was with WATT.  I had a small position in this in my optionhouse account and it was running wild yesterday in anticipation of a seeking alpha article.  That came out today but everybody was waiting for it and it was already priced in.  So it tanked at open and continued to for most of the day.  I also opened a position in my IB account.  I thought it had found a bottom when I bought, but I was wrong it continued to tank for a few hours.  I think it had a lot of shorts and a little squeeze at the end of the day.  Got me to the green for the day on the position but I did not sell.  This was definitely the stress creator for the day.  Thought I was doomed and forced to hold until the quiet period ended for them next week.  And hope for an announcement with a potential partner.  Did not happen and think it can continue up a little tomorrow.  I got a second life here so will most likely try to sell most quick.  May decide to keep a small position for end of quiet period.  This will depend on what price I can get out it.  Onto the recap

OH account
Sold WATT-sold right at open to lock it in.  I feared it would tank like it did, I didn't expect it to get as low it went though.

IB
Covered GLUU-very small gain on this but it is a profit.  Heard there was some newsletter buying in this near close today.  So happy to be out and not waiting for a drop.  Could be back in play on monday now.

Bought WATT.  This is when I thought a bottom was in place.  I was way off, dropped a good amount when stop losses went off.  Had little end of day run, that looks to continue next week.

Shorted SPWR.  Had a seeking alpha article out today that didn't move it much.  Was about its long term potential.  Hasn't moved much from where I shorted.  Will most likely get out on monday for small gain or loss.  Not moving enough for me to be interested in it right now.  Held to avoid a day trade going into next week.  Decision to not use a day trade breaks my new rule to not worry about that.

Looking forward to next week in the IU room for some ideas.  Also trying to catch most of Nate's dvd this weekend.