RE:RE:RE:RE:I shorted this and went long on magnaI was short LNR in October. Now I am long. My average price was $48, but in the last 3 days I bought a lot of shares everytime it diped below $46.50. It lowered my average to $47.01. I am in it for a trade to $55, but will sell it before Christmass regardless This is my last trade of the year.
I really think LNR is cheap at htese levels, but I woudn't be surprised if it goes lower depending on what happens this weekend at G20. I think LNR is being held low because of the steel tariffs.
I did notice the huge spike in volume at the last 5 minutes. $2m shares. Also noticed that 300K were traded between 4:10 and 4:25. I would assume those are instituional investors.
I think next 2 weeks will be interesting.
Good luck to all.
CaptainConn wrote: It was a pair trade playing the volatility of the auto stocks. Didn't short this based on the fundamentals of the company. I plan to cover once it shows upwards momentum. Anyways, did anyone else notice the crazy volume today near close?