I have gone long AAL.
This may not be the bottom of this lower low. It may go lower yet today or on Monday. There is often a bounce off the previous low. I had a very healthy gain so too much greed usually not wise.
I covered at 34.11. That was where I put my buy price to cover. I nearly covered in the morning yesterday when Morgan Stanley upgraded but there was no real buying so kept it at the previous 52 week low which was 34.10. Still in a downtrend but has fallen for 8 strait days. Looking for a bounce and then another opportunity to short. It could still drop right thru 34 and keep falling as I really have no idea where the bottom is. Next bottom could be 30 or it could be 25.
Can not give the exact figure but I covered my short at 34.11 that I shorted on the 20th. Waiting to see how much of a bounce we get off the double bottom. Could be a move up to a lower high. Still think it remains in a downtrend. May even fall thru the 34 but for the present will be happy with the gain.
Shares still lining up on the offer to be taken. Folks want out of this flea invested plane.
No trickery just straight down for 8 days. Brings back some memories of 2008. Of course this beauty has been going down since March of 2015. When fear sets in the stock just goes down faster. The buyers are gone with the short covering being the buyers. You are seeing the fear now.
All the airlines are getting taken down. It doesn't matter what Parker does. Wall street exacerbates the problem with lots of shorting that they use to cover many of the clients shares that they are being requested to sell.
They have a guaranteed market for covering at a lower price.
And the market is only down 100 points. Could get very serious if wall street decides to have a nice little short attack resulting in retail selling their funds. Not sure where the fun in that comes from.
Market looks like it is not going to wait until Monday. Switch over to selling refiners while still moving airlines down nicely.
Webush also upgrade MOH to 82 yesterday and look at it today. Has dropped to 53 with a big miss. They are definitely on top of things. Actually maybe they are. Get others to buy and they short.
Looking for a move under 36 today. If May brings correction AAL will be flying much lower. Folks say is doesn't make sense. Wall street just makes money at the retail's expense. I mean CVX at 103 when it is losing money.
Folks can get upset all they want but wall street doesn't care. They will take whatever sector they want down while taking another up.
Looking for new 52 week lows in AAL as we have a few selling days in May.
Many of the buyers are some shorts that are covering. IF the covering shorts move on to a different sector will see the stock go lower. If they cover and go long AAL it will have a little move up in this downtrend. Shorts still look to be in control and wall street will continue to control whether they make money on the downside or on the upside. I thought RHI was a wonderful example of the wall street manipulation. Tuesday they had earnings and revenue that met guidance. Earnings were 10% higher than a year ago when stock was 56+. CEO shared positively on CC. Stock was 44+. Some big wall street money short so the stock goes down another 6 dollars. Retail investors wonder what is going on.
Certainly not funny if you own this stock.Last year at this time the stock price is 56+. This year's quarter beat the earnings of last year's quarter by 10% and ZACKS says that revenues where up as well. Gets a downgrade and the stock is down 6 dollars after already being down to 44 dollars. Certainly feel sorry for folks that own this stock. Brutal how wall street can get away with this. This was a wall street setup at the expense of retail investors.
Appears that it goes lower. We will see. Wall street was short this company before earnings. Significant volume today. Funds selling with wall street covering. Not a recipe for higher prices.
RHI and MAN tell us that hiring is not what is taking place. Millions of folks out of work and no longer considered unemployed so not on unemployment stats. Result, stats are good but in reality an enormous amount of folks out of work. Collecting assistance from the government from money being printed with no collateral. One of these days the smelly stuff is going to hit the fans.