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Old 08-25-2008, 04:31 PM
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Forgot to post this --

Shorted LCC today after Gustov was upgraded to a tropical storm rolling around the Carribean.
Hurricanes push up oil and higher oil kills airline stocks.

Short @ 7.97, small position

Other airlines: UAUA, JBLU, NWA and so on.
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Old 08-26-2008, 10:26 AM
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Checked my positions and found that LCC covered @ 7.91 (+0.06) which sucks because I had the cover set a lot lower than that. Must've caught an unlucky spiker or something and tripped a stop. That's what sucks about not being able to watch it.
But it's my own fault (as all bad trades are). Looking back over the past few months when I was on cruise control, I found myself putting up tighter and tighter stops because I had gains locked in very early.
Then the past couple of weeks, those tight stops were eating potentially big gainers because I didn't give nearly enough room to move. And the intial gains were not as good. These tight stops have been holding me back even when I was sure I was right. Lesson learned.
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