Absolutely terrifying and horrible news from Japan today. Obviously, we all hope and pray for the least possible human impacts as is possible.
However, these type of unfortunate situations always seem to create market dislocations and trading opportunities. In looking for that type of opportunity this morning, I fell back to a day trade on Unitrin. The stock was down this morning. I could not find any stock specific news, and assumed it was down in sympathy with P&C insurers who might be adversely impacted by the disaster. From past research, I did not recall that Unitrin had any Japanese exposure and not even very much west coast US exposure.
So I was able to re-invest the lot sold earlier in the week at $29.23 and sell later in the day at $29.66 (prices net of commissions). That's a 1.47% gain in 4 hours...just another example of inefficient markets.
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