Sell Alert: Bank of New York Mellon (BK)

By Jim Pearce • October 25, 2017

TRADE INSTRUCTIONS
Date: October 25, 2017
Name: The Bank of New York Mellon
Symbol: BK
Type: Close
Limit: Sell at market

TRADE RATIONALE
We haven’t seen much movement in this holding since it was added to the portfolio three months ago, so I’m closing it down. We had a small profit in it until last week when the company released third-quarter results that came in a little below expectations. It’s still a solid holding from a long-term perspective, but it’s lost its share price momentum so I don’t see much upside potential in the short run.

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Rick

10/25/17 ‐ 4:14pm ET October 25, 2017 at 4:14pm ET

For those of you who don’t do options, this was a good one to pass. I closed my Dec $55 calls for $0.21. I bought them at $1.65. So, big loss – but fortunately I have won using options on most of Jim’s recommendations.

Dramatic License

10/25/17 ‐ 5:05pm ET October 25, 2017 at 5:05pm ET

Yeah, I was brutalized on this one with options, but at least the good news with options is that your loss can be contained.

Rick

10/26/17 ‐ 1:08pm ET October 26, 2017 at 1:08pm ET

Agree I limit the capital I risk on these option.

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