Sold 700 Shares of BAC at 5.77
I sold my total long position in BAC at 5.77.
I went long BAC (Bank of America) on Feb 4th, buying 500 shares at 5.20 and later in the day 200 shares at 4.90.
Of course it would have been great if I had sold on Friday or Monday when the stock was trading in the high 6s and even touched the low 7s. I guess maybe I got greedy, or maybe I didn’t have a good plan going in, or maybe I bet too much on the bank bailout speech on Tuesday. I probably messed up on all 3 of those points. In the future, I’m going to be more careful to put in stop loss orders when I’ve seen such a large gain.
I’ve been growing more uncomfortable with my large Financial Sector exposure, and since I have a profit in BAC I decided it was time to sell.
Realized a gain of $437.97, for a return of 12.19%.
