LUM's coming back

Discussion in 'Stocks' started by ggoyal, Oct 14, 2007.

  1. ggoyal


    i feel sorry for who ever got into LUM at 3 bucks. it's down like 35%+ since it's recent high. i think a good buying point would be 1.6-1.7. this seemed like a nice price to be at a few weeks ago.

    Any thoughts?
  2. Yeah GG, I follow this on my radar ever since I traded it. I left a shitload on the table getting out a bit early as you did. Bottom line I got out with a profit, didn't become a bagholder, and now its below my original purchase price.

    I'm tempted to give her another run for the money but am on the sidelines with her for now.
  3. My thought would be that I wouldn't be wondering where to enter this stock long. For me, the only question at this point would be - will it crack $2 on the downside and then pop back up to that level on weak volume. If it does, short it with a tight stop above $2 and a decent r/r ratio.

    Of course, you might be adept at playing these from the long side. If so, good luck.

    Disclaimer - I know nothing about the company, but it sounds to me like you might.
  4. ggoyal


    i know nothing about it either. im just looking for some trends and good prices to go long this stock. I don't think it would be a good idea to short LUM. plus-you can't anywhere.

    But for example like last week, if they have news like mortage apps increase or housing market rebounds, it's this stock that might be up with other like LEND and novastar.

    Im going to wait for to go till around 1.7ish to go long.