If you bought BSC at $70, buy some more at $2 to average down (or up).

You cannot lose with "buy and hold" and DCA.

the NYSE still has BSC listed

The shareholders at BSC still have to approve the deal.
Also BSC may find a different buyer to buy at a higher price.

Whatever it is, BSC is too risky to buy or short sell. 

I lost my a** a year ago with a similar deal.  I sold aftter stock had gone from 70 to 10.6.  3 months later all common and preferred div had been stopped & it was selling at 3; 6 months after that it was at 1.10 on the pink sheets.

Best of luck.

Lets hope that this thread marks the end of cocky, arrogant posters like the one who started this thing. Just how "stupid" (as the original poster suggested) was anyone who didn't follow their advice? I'd extend this hope to the "penny stock mavens" who sometimes haunt these boards, attacking anyone who disagrees as a "penny stock basher" or worse.

(long - civil discourse)

Bear is at $6 now. 

If you listen to me average down yesterday (at $3), you are up 100%.

After that you made the remark that it was too risky to buy or short, xeonogear. (yeah, I know you were being facetious).

Besides, I'm the one that predicted the Dead Cat Bounce, LOL 

Putting in a stop-loss order on BSC Friday near $30 share would not have helped, and this shows one of the weaknesses of stop loss orders. The stock opened near $3 on Monday, a gap down. Shareholders really got creamed here. Only the purchase of puts would have helped, but at the time, they looked expensive.

OK Guys...BSC was not the best call I've ever made but what I put into BSC was/is less than 0.60% of total portfolio..not even 1%.  Although, in total I am overweight financials...I like them and this market is not going to recover to its October 9, 2007 highs and go from there without the financials participating.  And we will get back to 10.09.07 highs this year and it will happen quickly. This whole "mark to market" business for investment banks is crazy in accounting terms as 97% of homeowners pay their mortgages on time. 

Also, doing away with the "uptick rule" when shorting a stock has increased the voiltity in the market; it has turned the market into a trader's market rather than an investor's market.

Plus, JPM is not going to pay cash for the BSC shares but pay out in JPM shares, which is completely OK with me, I have no problem with this.

Also, I have a fellow graduate student friend who works in Asset Management at BSC.  I don't even wish to think about him being involved in getting BSC where it is today...don't wish to go there.

So, in paper terms I've lost money on my BSC stock but given that I will get JPM stock in exchange, I think in fiive years the pain will be gone.