Trade: Raytheon (RTN), BP PLC (BP)
On Monday, I closed out my position on Raytheon at a price of $169.50 as I mentioned looking to do in my earnings recap, here. This close out may have been a bit premature, given the stock is another $6 higher than my sell point, but there was no way knowing that and I wanted to close out the position quickly to avoid any further losses, given the truly sad outlook the company provided for 2019. In an effort to put money back to work that I have collected from my sales, I have purchased a 25% position in BP PLC, an oil stock yielding over 6% at the time of purchase. I've been wanting to buy this stock for a little while now, but with earnings so close, I decided it best to wait, plus I wanted to get rid of something before I added more. As a result, BP posted impressive numbers on Tuesday morning and the stock took off. My purchase price was $42.75 and while I'd like to get the stock priced more at $40, I'm not sure that will be possible any more without a signif