Pimpin’ Bear Stearns From State To State
I didn’t bet the farm on this one, but it was one of those times where I wish I did. Heck, I only made $38 on the trade. But it’s a heck of a story.
I had heard rumors (not the Fleetwood Mac album, although it is a classic) that the $2 a share buyout of Bear Stearns by JP Morgan was going to get voted down by shareholders. Even Congress was starting to ask questions about it. Shares were already fluctuating well above the $2 level.
So on Thursday, I decided to buy a lottery ticket. I bought 10 shares at $6.20. By Monday morning in pre-market, shares were trading at around $10. I immediately sold it all. Yep, a $38 profit. Barely cab fare to make it home from work. But heck, not bad for 10 shares over a long weekend!
Let’s all just take a moment to bask in my pimptitude!
In the meantime, I made a little more trading a few shares of SLV. Not much, just more cab fare 
But every little bit helps!
Now if only we could do something about BAC 