Playing the Ex-Dividend Day, 2 Day Trade Game

05/20/2009 09:34 AM	Sell	375TNK@$12.55	$4,706.25	Executed	Detail
05/20/2009 09:33 AM	Sell	375TNK@$12.80	N/A	Canceled	Detail
05/19/2009 5:15 PM	Sell	375TNK@$12.87	N/A	Canceled	Detail
05/19/2009 2:21 PM	Buy	375TNK@$12.82	$-4,807.50	Executed	Detail

Bought TNK @ $12.82 on 5/19, tried to sell 5/20 at @ $12.87 where it opened, then $12.80 but it moved quickly down, so I finally sold it at $12.55. I know it may sound like it was a bad trade and I lost on this trade, however that is the beauty of this dividend trade.

For holding this stock for about a day I get paid $.59 (dividend) x 375 = $221.25
Less the buy and sell difference of the actual stock $12.55-$12.82 = -$.27 x 375 = -$101.25
Less Zecco trade costs @ $4.50 per buy / sell = -$9.00

My true profit (before taxes) on this dividend trade is = $111

The lesson learned on this trade is to not be too greedy as I could have sold my stocks easily for what I bought it at opening @$12.82 and kept the additional $101.25, greed does get the best of us.