On the day I bought this stock (one month ago) it jumped $1.25 to $61.15 on the very second I pushed the "buy" button (bought at "market" like an idiot).
That was realy bad luck because it was at the exact moment when the stock spiked on some rumors and it stayed high all the day.
Then credit worries continued and the stock slipped but unexpectedly recovered to $69 after the rate cut.
On the day it reached $69, I didn't see it because a lightning broke the telephone line and I stayed off-line for a few days. Never mind, the day after I called my father to take a look and told him to sell it.
The time he figured out how to enter the order on the broker website, the stock fell to $68, then $67 and lower and lower and lower until $62 and the "sell" order wasn't filled.
That's not only bad luck: I had to set an open order in advance.
That's for the little story.
Now why MS?
Because it has been oversold in the credit crisis but doesn't have that much exposure in mortgage especialy subprime.
The reported a profit fall of 16% mostly due to a write off while other bankes warned of much worse results (Citi: -60%, BS: -75% etc).
Without the 1Bln write-off, incomes are improving.
When Citi (C) made their profit warning, I thought MS would fall under $60 at the open.
What a surprise to see that the opposite happened: It climbed $3 in two days. The reason is that Citi also said that they expect the situation to go back to normal soon.
Finaly I don't regret being in a bank stock today.
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