I read that the Federal Reserve has approved Bank of America’s (BAC) purchase of Countrywide (CFC). The sale is expected to close sometime in the July-September quarter.

For each share of Countrywide I own will be converted into 0.1822 shares of Bank of America. So let me do some quick math, I multiply 0.1822 times 20 and the answer I get is 3.644. If my calculations are right then I should get 3.644 shares of Bank of America.

The price for each (BAC) share is $31.99 as I write this post. If I were a betting man, I better don’t go there but this I can tell you, when the deal happens you’ll be the first to know.

I usually check my stocks everyday at about 9 PM with Yahoo Finance to see if they went up or down in aftermarket trading. I was going through each one and when I typed in (BSC) nothing came up, I tried again and I got the same result. So then I went to MSN money to see if the same thing would happen there, I typed in (BSC) again and this time the quote came up, it showed that the stock was unchanged and the price at $9.33, so then I noticed the news section an it had an article mentioning that JPMorgan Chase & Co had closed its acquisition of Bear Stearns.

After reading that I logged into my Scottrade account and sure enough there it was. My account showed that I owned 2.1753 shares of JPMorgan and no Bear Stearns shares. So for each share of Bear Stearns I owned was converted into 0.21753 shares of JPMorgan Chase shares. Some quick math, multiply 0.21753 times 10 and you get 2.1753 which is exactly what my account showed.

The price for each (JPM) share as I write this post is $41.89, I am going to take a wait and see attitude on this one.

This past week was a lot better than I expected for my investments. For a while there I thought I was going up Viper ( a roller coaster up in Six Flags) just look at the graph. My account was up a whooping, whooping for me at least, $115.48 for the week and that made up for what I lost the week before. If this week is as good as last then I should have no problem passing the $1400 dollar mark.

I had no new trades last week.

My investments look like this now,  8 Visa (V) shares, 10 Bear Stearns (BSC) shares, 10 Ford (F) shares, 10 Marvel (MVL) shares and 20 Countrywide (CFC) shares.

I start this week with a total account value of $1,318.59