Monday, August 6, 2007

CVX - Chevron, BSC - Bear Stearns

CVX
Updated my stop order from 1.6 to 2.0 since CVX continued on its wonderful downtrend. This will protect an additional $1000.00 in earnings for this mornings trend.

CVX Close
My stop order filled at 2.0 and my mid-day gains were protected. Im glad I set this stop order. CVX was actually up to 2.7 per option contract at one point mid morning.

Total Realized Gain (2 days) for CVX $2,674.92


BSC
Wow! How often does an opportunity like this come along? Bear Stearns already coming off bad news makes a Sunday announcement and ....WHAM! What an opportunity I missed here. BSC opened and immediately fell by $3 a share and as of 11 EST it is down $8.

BSC close
Sounds like a few folks decided to call in a favor or two. News late in the trading day cause the market to rally and specifically comments supporting Bear Stearns liquidity position. Note to self: Set stop orders intra-day in volatile market trading (did that on CVX).

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