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

Thursday, May 9, 2013

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.

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