» Bought RKH @ $80.92

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Bought RKH @ $80.92

by alphadawgg on July 16th, 2008 at 11:38 am

(RKH: 76.31 -4.30%), $80.92 @ 10:33 ET

This one gapped up over $3 this morning, so I placed a stop at $79.

Target: $85- $86

Short term trade.

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7 Responses to “Bought RKH @ $80.92”

alphadawgg Says:

Poker faced RKH killing the bears with calculated precision. SKF has been incinerated.

RKH will have to work through resistance in the 88 - 98 range.

I may sell some here for a quick profit and see what happens tomorrow.
July 16th, 2008 at 3:48 pm
Employee8 Says:

So you are debanking Fly of some of his lunch money … way to roll!
July 16th, 2008 at 4:11 pm
Jakegint Says:

I, on the other hand, added to my SKF horde.

I don’t have much faith in the regional banks pulling out of their collective nose dive.

Call me “nuts.”

__
July 16th, 2008 at 4:22 pm
Employee8 Says:

Better to hedge those babies with either:

https://www.ssgafunds.com/etf/fund/holdings/holdings_KRE.html

or

https://www.ssgafunds.com/etf/fund/holdings/holdings_KBE.html

as it’s unlikely this is a one day wonder….
July 16th, 2008 at 4:38 pm
alphadawgg Says:

8-
KBE has similar holdings to RKH.

KRE has more of a regional flavor with FNB, WABC, CBSH, BXS, BOH, FCF, CFR, SUSQ, SIVB, VLY in the top ten holdings.
July 16th, 2008 at 4:57 pm
Jakegint Says:

Thanks for the short list, E8!

_
July 16th, 2008 at 4:58 pm
Employee8 Says:

We could get back 50% of the recent leg down (1400-1200spx) to around 1300 before the final leg down kicks in. If so, the squeeze will persist … this rally could last 2-3 weeks. I haven’t been short the regionals but if I were, I’d be hedging with one of the above and add to them around 1300-1325 spx.

Sure, it could be bumpy on the way to 1300 but I wouldn’t want to see all those profits taken back … but, good luck Jake. Oil down, gov’t intervention on shorts and oversold doesn’t bode well for holding or adding here …. JMO, but I have been wrong before and will be again … haha!
July 16th, 2008 at 5:33 pm