Bought RKH @ $80.92

July 16, 2008 – 11:38 am

[[RKH]], $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.

Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. Trade at your own risk.

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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