I sold it this morning for 9.31, it was higher than that but then new of FSB being shutdown today came out this morning on NPR, so I got out. I don't know how significant a small state bank would be, but I figured protect the profit, I can always jump in again.
That news isn't making much waves in the pre-market. I think the market just wants to go up and there's no stopping it.
I did the same thing, I bought it at 9.10 in my IRA yesterday and sold it this morning at 9.30, was expecting to see at least a $9.50 opening but after I read the news about FSB being shut down needed over $4 Billion worth of FDIC dollars I decided to get the hell out as well. Trading at $9.22 right now, if it does prop up to $9.75-$10 today I will EXTREMELY SURPRISED. The news about FSB should be a total negative for the rest of the day for all bank stocks.
Its trading at $9.15 right now. I don't however necessarily believe that FSB is going to definately bring FAS down, I just didn't want to hang on to the risk that it might. I had nice profits this mornign and I wanted to protect them with the intent of hopping back on if things look positive. Chances are though that I am out of the market for the rest of the day and therefore the week because I don't have another day trade. If I enter, it's because something looks good close to the closing bell for a weekend hold, like I use to do with FAZ, I don't know which is will be FAS/FAZ or neither right now, but that's what I am looking for to see what might be good for a weekend hold.
Well assuming I don't enter any positions again today. I am +9.5% for the week, +52.51% for the month, but I am only +19.66 overall from account basis due to the fact I was - 21.54% the previous (and first) month. March 30th was my first trade but I just added that to May since it's only one day. +9.5% for the ain't bad, nothing to jump and scream about but it's solid earnings.