I must confess I made a huge mistake on Monday: Alaska Airlines. The mistake wasn't going long with Nov 40 calls ahead of an atrocious earnings call. The mistake was that I didn't blog about it before hand. The reason that I do this is so that I can justify my own trades in writing before I execute. This time, I didn't do it. There wasn't any rigor behind my ALK long than an ebullient recommendation by Cramer and some nonsense about American Airlines and Continential reporting blowout quarters. Sure, its pin action. But Alaska isn't best of breed. And I've flown Alaska and it is not the greatest experience in the world. They still run McDonnell Douglas MD 80 planes! I hadn't been on one of those beasts since I was five years old.
Thankfully it was not too costly. Nonetheless, I won't be repeating it again.