CAL

[David Randolph]

This news out on the Wall Street Journal will probably make the 3 SOF selling price better:
UAL, Continental in merger talks: WSJ

My initial justification for the trade was demand growth and a big EPS number for 2007. That's in risk. It wasn't any merger possibility (which doesn't tell me much).

I'll keep the plan of selling CAL at the open, hopefully, given this news, for a small profit.

[David Randolph]

Thanks a lot Wall Street Journal and CNBC

Nice selling prices for CAL and AMR, in comparison to yesterday's close. I don't think a news that says "they're talking" is that significant, of course they're talking, they probably do it more than once a year ...

My play was based on fundamental trends that suddenly started deteriorating, so I took profits, not as big as I once hoped for, but ... I need to remain flexible.