Wednesday, October 04, 2006

 

Fly Buy: DNA

I bought 1,000 shares of DNA @ $82.77.

Comments:
Technicals be damned, warnings be damned, violence overseas who cares we are going to DOW 12,500 by the end of the week! Wow euphoria I must say.
 
I think there's a better word than euphoria ;) Yesterday it was up because oil was down. Now oil's up - because supplies jumped? and supply cuts don't matter? and the market is up because oil is up? I'd call it irrational something-or-other.

But I love my irrationally acquired airlines anyway (GOL is hot) and other longs... for today at least. And I'm stubbornly hanging onto some shorts. Been a bizarre month or so for me.
 
...and brokerA, before you point out that I'm a complete idiot for buying airlines, let me say I agree with Lehman's airline analyst who says that, generally speaking, one has to be a complete idiot to buy an airline stock. I doubt I'll own GOL at the end of the week.

JBLU, on the other hand, could have some potential here if oil keeps dumping and the analysts stop assuming they're listening to Dead People on the CC's.
 
Jerome--

Whatever makes you money is fine by me. I just disdain the airlines to a point where I NEVER mention them. Even if the index is up 10%, I ignore those fuckers.
 
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