The Portfolio is long/short 100 shares of each symbol except being long 1,000 shares of AMR.
Crude Oil went LIMIT UP in the pits today, up over $10. I went short in the Sim acct. just for fun near then end of the session, that put the acct. down, oops.
I've got 2 highly speculative stocks I'm long.
AMR bought 1,000s at $7.08
MXC bought 100s at $48.51
AMR- badly beaten up Airline stock that no one in the right mind would touch
MXC- Low float, big spreads, huge gainer, who knows where its headed...
2 comments:
I don't know about airlines myself, but, I think it was Bloomberg where I heard Jim Rodgers say he was buying airlines now.
I agree oil has to go down eventually.. the bubble will burst and you're totally right about AMR, they will be one of the first ones (along with skywest) that will jump and rally. Question is when?
Congress is stirring things up, and speculation buyers are the ones to blame according to them - once they clamp down on them oil will drop at least 25%. Decent gamble but I think you made the right move..stay long and hang in there! ~Matthew
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