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Originally Posted by MetaformX
01/24/05
CAL
CURRENT PRICE: $8.80 **I am SHORTING this**
I am SHORTING this stock here. Oil is on the rise again, and one of the first sectors that get hit immediatly when oil goes up is the airline sector. The market has been in a downtrend and technicals are not improving, and CAL will continue to fall because of those 2 combinations. I believe it's going to $7.70 in the short term.
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CAL is at $9.53. You are getting your ass kicked again. You have proven that you know dick about how to trade on the stock market.
Now I will tell everyone why this was just plain dumb. CAL is in negotiations for their employees to take a pay cut. If the news comes out today that they will take a 5% cut the stock will go up even more than it has today. Just because you THINK oil is going up that does not mean the stock will go down. An airline can raise their prices $10.00 per ticket to off set the oil cost.
This guy is a fucking idiot.