So I bought SMD back in May b/c this fund manager had bought it at $3 per share and said he was "convinced it is still a bargain." At that time it was selilng for $.33 a share so I though, well, if this guy thinks it was a bargain at 10x the price, I'll buy.
So I bought $180 worth or some small amount like that (500 shares).
Yesterday I get back from lunch and have an alert from Scottrade that it hit my alert mark of $.66 (it has pretty much stayed in the neighborhood of $.30-$.33 since I bought it).
I look it up on Yahoo and it's at $.79.
I had forgotten my Scottrade acct # so I had to call them and then I got access and put in an order but it didn't fly. It was back down to $.32
My mistake was setting an alert instead of a limit order that never expires. Now if that sucker hits $.66 while I'm gone it'll sell. I still have no idea why it spiked.
Missed out on probably $150
My wife was bummed as well.
The spike