Took a position in QCOM on today's pullback. Bought 375 shares at 43.50. As you can see from the chart, the next resistance is at 45.50. I will likely sell if it nears this area, and reenter if it breaks out. A pullback on low volume could provide another reentry point. Their is some risk that it will fill it's recent gap. However, with the recent upward guidance, I'm willing to take the risk and expect that it could breakout over 45.50.

















Sold IVIL and BCRX for total losses of $548. It doesn't take much analysis to see where I goofed up. BCRX was simply a bad trade. The technicals screamed stay way or short, yet I got tempted by all the flu talk on CNBC. IVIL was in a solid uptrent, and may still be, but it spiked too much to merit a buy signal. Should have waited for the current consolidation to give me verification of a buy signal.

Trades like these have a tendancy to get me down, so I'm taking the approach that good NFL cornerbacks do . . .have a short memory and think only about the next play.