Wednesday, July 19, 2006
Trade of the day (channel 6) and my rebuttal
I am starting to follow the trade of the day by channel 6. They are suggesting you buy luv with a stop loss at 50 cents. The logic is that oil prices are going to go down and we are not doomed by Iran and the economy. I was looking at the puts if you are looking for a movement either way. Sell luv at $17.50 for $1.55 and buy the put $15.00 for .20 to .30 cents. I just see their advice as a bad trade because it speculates on lower oil prices during hurricane season.
