Bought Jamba

I did decide to do a trade. I wasn't planning on it because I didn't have a stock I was watching very closely. That was until I looked at my regular portfolio where I own shares of Jamba Juice. I obviously watch the shares in my regular portfolio quite closely, and when I look at the action on Jamba, I like what I see.

I've owned Jamba for a while, and I've taken a bath in it. I've lost probably about 30% of my cost basis in that stock over the last few months. OUCH! But recently Jamba announced a deal with Nestle to sell Jamba Juice in stores. The stock reacted well to that news, but not that well. But since then, the stock is up 50%. Yes that's right 50%.

But the stock is VERY dangerous. It is a very volatile stock, but I liked the fact that it went above it's resistance of $5.00 today. I'm not sure it's a breakout yet, so I only put a small position on and want to watch the movement through the end of the week. I bought 496 shares of the stock at $5.03. I might buy more depending on what the stock does over the next two days. If the stock slips under the $5.00 mark and gets to about $4.50, I will probably close out the position having taken a loss of about 10%