Since when the U.S. Fed Cut Discount Rate 7:00pm EST Sunday Evening ?

[james_gsx]

I saw these and couldn't resist. Very limited risk in a what will be a very volatile stock over the next week. If it doesn't work then I'm not out much, but could be a good trade on the reward side. BSC is up about $1 since I got in on this trade. I only bought 2 contracts because it's fairly risky, and in case it doesn't work out I don't want to lose my shirt. But hey, if it goes up and I make $100 then I'm good with that too.

[thrunner]

A bit of shadenfreude with Bear Sterns. Someone stucked a $2 bill to the entrance.

[Soultrader]

	Quote:	thrunner
	A bit of shadenfreude with Bear Sterns. Someone stucked a $2 bill to the entrance.

haha yea read that in Reuters. Apparently the entrance is also visited by real estate agents offering cheap apartments for Bear Stearns employees who just had their stock options go down the drain.

[james_gsx]

Well, I bought a few more BSC calls at 35 cents yesterday morning. Just sold everything today for a $754 profit. Not bad for only risking $210 or something like that.

[brownsfan019]

	Quote:	james_gsx
	Well, I bought a few more BSC calls at 35 cents yesterday morning. Just sold everything today for a $754 profit. Not bad for only risking $210 or something like that.

Nice gamble ... er trade ... I mean.

Just don't get too cocky when this happens again, that's my only advice. It's easy to play the - if only - game when a similar situation comes up in the futures. And it will. Only next time the thing just might keep tanking.

So please just remember for what this was James - more of a gamble than anything. Trust me, speaking from experience. You always go light on the ones that pay off and heavy on the ones that fail miserably. Murphy's law in full effect there.

[james_gsx]

Oh I completely understand it was a gamble. In fact, I didn't even expect to make any money. That's why I immediately sold the second I saw the trade had worked in my favor. I could have held, and it would have been worth more. But by that point, I would be running off emotion and I would probably miss my opportunity to sell. It was a gamble, a risky one too. The only thing I had on my side was the risk/reward factor and the fact that someone could come in and make a higher bid (or a rumor, which is what happened). You should know that I'm probably one of the most conservative traders here, I learned my lesson last year after a few bad earnings calls. Hence why I only risked $200, I can stand losing $200.