LEH

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.