Friday, July 9, 2010

Trade Update: "HHH2"

We remain long. Although the news does not sound good, our scenario computers continue to favor the longs to this point (resistence). We continue to hold "HHH2" although it is having a difficult time breaking through resistence. The disconcerting news is "HHH2" has not participated in this huge 1 week rally. The long-term prospects look good on a risk/reward basis; however, as a short-term trade it appears it has not worked. It worked in the past when the market went up-not this time. It may mean that the stock has specific problems that are not market related. We may bail on this trade. We should have made 10-15% off this trade this week. It did not happen....something is not right.