Mirant (MIR) is gone

One stock I didn't mention yesterday was Mirant Corporation, a power company with operations in different parts of the world, mainly because it wasn't that interesting :)

It's been going up and down a bit lately, from a small +1% to around -5%, and they might be a good thing to have during recessions etc., but they just weren't doing very well. Might have something to do with the news today that their profits drops and their sales decline...on top of that they've just been sued for contributing to global warming with one of their power plants. Generally not very good news.

Lucky for me though, I decided yesterday to finally get rid of them and set a stop marker just a few cent above what i initially paid for them. At the time they actually looked like they were actually going up, but I basically just wanted my investment back so that I might place it in something a bit more interesting. During the first hours of trading the stock price continued up, just past my $37.10 stop marker, before the law suit was announced. After that they did a bit more up-down, but are now down in $36.90...lucky that i got rid of them in time :)

Now I just need to figure out where to place the money. I've been looking a bit at Index Oil & Gas (IXOG) which is another penny stock, this time in the oil and gas industry which seem to be doing well with the rising oil price.