So, my limit order went through today and I made my first $102.00.  After less than two weeks of trading, I'm up 9.25%.  I'm going to keep following CRNT for another chance to jump in.  After the CRNT company meeting on Wednesday (today is Monday), I'm sure the stock will either skyrocket or fall like a brick.  Whatever the case, it's bound to come back down to a decent price, at which time I'll jump back in.  I'm going to watch BLDP for a while and see what's happening there too.  I used to own stock in them years ago, but with the big push for 'electric' cars and fuel efficiency, they might be a good buy...I need to do more price research before investing though.  Supposedly, they're going to be profitable for the next few months, which might inflate the stock price.  I don't want to overspend...buy low, sell high, you know the rules.

I considered re-investing my money today after my CRNT sell limit order went through, but I didn't really see any good deals... The only thing I did notice was IDMI.  This pharm stock has ranged from $2.22 to $10.75 over the last year, and have had a huge sell off in the last week or two after one of their cancer drugs didn't get FDA approval.  After a little net research, it turns out the company has good fundamentals and a few other products 'in the pipeline'.  The stock is trading at $3.32 today.  I could have bought in, but I feel like the profit potential here could be long term (maybe February of next year? -- They have some new drug trial results coming out in 1st quarter 08).  Anyway, the sock appears to be a good buy at current prices, even though it could be a bit risky.  Rather than just buying in, I bought an option share for $145.  If the stock gets any good news at all between now and December 22, I'm bound to make a profit.  Right now, the option I bought was at $2.50 a share, and the stock is trading at $3.32.  I'm technically 'in the money' though not profitable right now.  If there is any good news between now and December, I see the stock hitting $4.00 easily (which is what I would need to break even), and I figure it hitting $8.00-$12.00 is not unreasonable if the news is good enough.  Of course, the reason I bought the option instead of the stock is because I want to make a profit rather quickly... Remember, I'm seeing how well I can do in a year with an $1,100 initial investment.  This means that playing the volitile small cap market will be much more profitable, if riskier, for me.  --But anyway, back to the matter at hand.  As it might be months before IMDI bounces up, if it bounces at all, I thought the option would be a good buy.  Not too risky, and if it does jump, I stand the potential to make a killing.  Also, i still have the bulk of my money (over $1,000) to invest in case I do find a hot stock that's on the way up. 

Basically, considering that 'IMDI' is an already 'in the money' option, I spent my profits today buying that option.  Even if I sold the option contract right now (for a loss), I'd still be profitable overall.  After my profits today ($102) and the option being 'in the money' by $80 right now ($2.50 option trading for $3.32 right now), I'd still be up.  However, I think the stock will bounce eventually, and then I'm going to make some money. :)

 --As for CRNT, my first pick, I did pretty well.  I basically made a 10% return in a week.  It'll be tough to find another good buy like that.  I'll probably have to be a bit more patient on making profits in the future...