Conviction Position Added: SELL Bear Stearns

Today I went ahead and decided to place a SELL call on Bear Stearns (ticker symbol: BSC).  Bear's brand name is tremendous and, was without question, a premier franchise but they were the result of a terrible credit market.  But at this point I think we are at the current max point.  From a purely speculative standpoint, I thought buying calls on the Monday morning of the day it traded at $2 would have been a good deal.  And it would've been fruitful as it has quintupled since then.  However, it appears that this deal is going to close now and the stock should probably sit at $10 level from here on out.  With that said, I believe that this name should be sold into any bit of strength and would recommend avoiding the position from a purchase standpoint.