Sold Off Mittal Steel, Bought McDonald's

Mittal Steel (MT) announced a $22.8 Billion takeover attempt of rival company Arcelor SA. Though this may or may not be a positive move for the company, I've decided to get out now and take away my profit. I had originally got in with a buy of 3,558 shares at $28.09, and sold today at $33.71 per share, for a net profit of $19,945.

I had also picked up some shares of McDonald's Corp. (MCD) earlier on Thursday, in anticipation of the hot new IPO of Chipotle (CMG). Unfortunately the McDonald's shares are currently down, while Chipotle shares which weren't accessible pre-IPO, were up tremendously. I now think I'll wait a bit more, perhaps until after the upcoming Fed Meeting, to get rid of McDonald's.