The big news today was that GTAT declared bankruptcy and fell 90% from over $10 to under a buck. I heard the news and immediately looked to RBCN. Down .04 I shorted it @4.46 and then the really fun began. This was a total avalanche. I covered at 3.62, which turned out to be pretty darn close to the bottom.
Why did I cover @ $3.62? When a stock encounters aggressive selling and then that action slows and some bids come in I find it best to close the trade. It worked.
18.8% (.85 R)