Stock plays

Generally I am not for “trading” stock but however I spotted an extremely tempting opportunity yesterday I had to try out.

SCT dropped 75% yesterday on news of their CEO resigning and reports of a substantial loss this quarter. 75%… in one day? I saw this as a market panic and I couldn’t resist buying in a small position. The stock bounced back up 50% today and I’m locking in the gains . The only thing is I didn’t have much cash and I didn’t want to sell my other holdings so the 50% gain is on a $300 position. I was also afraid I might be wrong and would be kicking myself for unloading my other positions to lose money in a speculative play.