Lehman is up +52% from its closing price on July 14th. Was today’s +14% move the end of the pain trade, or just the beginning? I have a critical resistance level of $21.63, and would not be surprised to see LEH test that. If it fails there, on volume, it could go back to $10.11 in a hurry.
This stock epitomizes what we were talking about this morning. Very few US centric hedge funds have a risk management process to handle this kind of stock specific volatility. Winners and Losers will emerge.
If you’re not a trader. Don’t trade this stock.
- LEH +14% Today on 72M shares
LEH 72 Hour Squeeze