Friday, July 11, 2008

LEH: Bull Flag Breakout







(Click On Charts To Enlarge)

I bought LEH at $14.50 at 2:48PM ahead of the Bull Flag breakout, one minute before it took off like a rocket on the good news about FRE and FNM. Whew! I had planned just to trade it, but if it closes near $15, I'm going to hang onto it into the close. The trade is crowded on the short side. CNBC mentioned today that put buying in LEH is very heavy. We'll see.

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