Exited PALM and AMTD

The last few days have not been good for the Challenge account. First PALM jumped, triggering my stop-loss order on Friday. Then this morning I exited AMTD. All the while AMLN has been pulling back strongly. Here is the summary of the account. From the peak of last week, the account has been reduced by about $1000.

That is the bad news. The good news is that we have plenty of cash to enter two trades. This time, however, I will try to be more disciplined about my choices. It seems to me I have been rushing into some of the trades that are now exited.

As for AMLN, I think that the fundamentals are there, but we are short term overextended. The stock has now completed a zigzag from the top (look at a 60 min chart if you can. My target continues to be in the low 40's.