Bear Stearns SOLD for $2/share

Wow! I am glad that I never even came close to this Bear Sterns (BSC). JPMorgan has officially bought Bear Stearns for $2 a share. What makes matters even worse is that the stock is currently sitting at $30!!! On top of that the stock was hit $27 down on Friday.

All this should be a lesson or wake up call to those messing with the financial sector. JUST STAY AWAY! Also don’t think because this stock is at $2 that there is no where to go but up. BSC will probably go nowhere.

Be very weary with the market tomorrow. I am just going to sit back and see what happens. Better to be safe than sorry.