Trading: Qualcomm ($QCOM), Linn Energy ($LINE), and Fusion IO ($FIO)

Yesterday my Qualcomm stop loss triggered at $63.63.  However, the stock did not continue the decent.  and today I bought half of the shares back at  $64.42.  I'm looking for the stock to fill the gap from the recent drop.  I expect the stock to return to $65 - $66 dollar range.

I was surprised to see Linn Energy down big today.  I searched for news to determine the reason for the drop.  I read that Barron's had made some negative comments about the company.  Having followed this stock for years, I knew it was on sale.  Therefore, I purchased shares of Linn Energy at $35.85.  This stock has a 8% dividend yield.

The news about Fusion IO CEO resigning was big news and the stock was down over 20% today.   Having sold this stock a couple of days ago, a decline of this magnitude seem to be extreme.  I entered a position at $13.27 because I thought this was a low risk entry point with a mental stop at $13.  The stock closed today $14.60.

Trading: Two days ago I sold my Apple and Fusion IO.

I had two call spreads in Apple (AAPL) Jan 15 390/400 and 430/550. I sold each of them and made a very small profit, but not enough to recover my previous call spread in this name.


I had a small profit in Fusion IO ($FIO) and I sold the Jan 15 15/27 call spread. I sold it because I was trying to free up some capital. In light of today's 20% correction, it seemed like a brilliant move. I assure you that it was a blessing, I'm not that smart.