TELC
It was, as Tom Pope alluded to, a favorable arbitrage play, that lucked out. I have traded it before. Merger with WAXS called for .58625 shares WAX per share of TELC. At today's open, this would be $11 per WAXS share, with WAXS (a company that I like) trading at close to $14.
Well lo and behold, I'm checking quotes, and it is HALTED. My heart is in my throat, and then I check the news and see that the merger deal has been changed to a guaranteed $12 per share offer. Just plain dumb luck on the news, but I think it was a sensible play based on the arbitrage aspect. Anyhow, WAXS can cancel the deal if WAXS stock goes below $12, so I happily sold at $10. 3 1/2 points for 3 hours is as good as I've ever done.
AAPL
Thanks for the advice Scott. I did not hold, the profit was too enticing. I'll sleep better tonight, and tomorrow, I'll either kick myself or pat myself on the back.
At least I can say that for today, my focus was a lot better. |
