Market Sell off Closed AZO calls, RFMD + 25%

After a bounce yesterday, the markets opened down big on news of a Portugal bond situation and talk of the end of QE.  Pre-market every thing was very, very  red.

Preservation of capital time. 

I knew this meant AZO would pull back and would not breakout today.  As my call position depended on a breakout today or at least movement toward that direction, I knew I needed out. So I got out at the open.  I used to the increase in Vol. to get a better price and got out at .60 for a very small loss.

Likewise, I decided to get out of RFMD.  There was a bid Pre-market that I felt would be at least .10 higher than it would open so I hit it and got out at 9.47.

RFMD is a position I've had for several months and the chart shows why:

I bought at $7.47 on March 5.  and sold @ 9.47.  So I end up with a 25.8% gain on the trade.  Obviously, there was a very nice trend.  I got a little hesitant as there was a lower high.  From a fundamental side, RFMD will soon be merging with TQNT the new company will cut a lot of overlap and it will be an interesting one to watch.  That being said,  I would anticipate that there may be some "final period" issues that will be reflected in quarterly earnings and growing pains as the companies merge. I don't see this position as one that I would be able to hold to next march without a substantial risk of a pull back.  For that reason I'm outta here.