Wednesday, June 11, 2008


Update- Sold my YM longs for small gain. I want to be flat ahead of retail # tomorrow. I'm looking at the charts and thinking LEH will gap down tomorrow. It's time for the call of the warriors...Lets hope we don't get fu....

LEH and the financials got the crap beaten out of them. LEH was downgraded again.
I probably did the dumbest thing ever, but I went long LEH near the end of the day.

I'm looking for a bounce to 12200 on YM, and a bounce on LEH to 26-28. Both charts look like death, I may take a loss on both. I'm still hearing that no one wants to buy financials as they are all making new lows. The major trends are still in place (short financials, long oil).

My simulator acct is doing really bad because of my AMR holdings; however, AMR is a long term hold that I'm giving at least 3 months to play out if not longer.

Here are the results of the Airlines Poll, the majority of people think the airlines are screwed, which indeed looks that way. AMR is at $6.15, down a dollar from last week.


Dinosaur Trader on 3:03 PM said...

Hey listen, if this LEH doesn't work out and you get completely smoked, do us all a favor and make a damn video of the smoking...

Sorry. I feel it's necessary to have this on every thread here now...

I like that new fancy feature you have... I may have to copy that.


Anonymous said...

HPT, what time frame are you looking at for LEH?

HPT on 3:18 PM said...

I will have to re-install camtasia software to make another video, I will if I find the time.

The time frame for LEH long is tomorrow.

I'm probably screwed with retail #'s at 8:30 am tho.

Anonymous said...

well I hope you have patience with AMR, i'm starting to think nothing is going to happen with oil until after the election.

Congress/Senate are playing political games and stalling.. with oil hitting new highs I think AMR continues to go down over the next 60-90 days sadly but I'm rooting for ya :S

HPT on 7:43 PM said...

I feel the same way about airlines, in that they probably won't reverse until around election time. However, I think the majority of people are thinking this way as well with a possible hurricane season ahead and an increase in demand in oil from China. It's going to suck if gas prices never go back down. The AMR trade is in the simulated acct., I have much dumber positions in my real acct. like being long LEH. At least we got good market volatility.

Dinosaur Trader on 6:10 AM said...

C'mon, I'm only kidding... I don't want you to resmoke yourself.

Dude... that wrestling vid... same thing over and over. What's with that?


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