I haven’t been holding my tongue on what’s been happening with my day trading investment in AMR. I’ve been holding my effing hat.
The market crunch has adversely affected the normal factors that trend AMR’s mostly predictable volatility. For instance, the price of oil isn’t an isolated influence on airline performance, but it’s a good indicator. Yet oil is at a longtime low and AMR is still in the tank. So what I bought over the last few weeks — at as low as $8 and as high as $10 — I’m just hanging onto until it either tops $12 or the market stabilizes. I didn’t put my entire day trading nut in AMR, but it’s the lion’s share of my holding right now.
But that’s the beauty of informed day trading. If you’re up you can sell and bank it; when you’re down you ride it out. I’m just mad I have so much tied up right now that I’m missing some real fire sale prices.