Tuesday, May 27, 2008

LXU - Update

LXU reached its preliminary downside target and has since moved higher.

While the stock to me looks like it wants to make one final push lower to 16.25, we have reached a point where it would be safe to put 1/3 of your position into place just in case we have seen the absolute low and the stock moves sharply higher.

If the stock moves lower to the 16 to 16 1/4 area then add the other 2/3's of what you were going to allocate to the stock.

As of now, I am long 1/3 of my position in LXU

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