Friday, September 22, 2006
Position Updates: RACK
My bet is for capitulation of the longs, as the ugly, fat faced market scares them into selling RACK.
Additionally, it is my belief that RACK is undergoing margin erosion in some of its key products.
Finally, I will look to cover around $23-24.
NOTE: Homebuilders are up today. I consider them too risky, ahead of next week's economic data.
Please don't do anything I do. Just laugh at me when I am wrong.
I'd hate to guide anyone into a loser.
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