LH : If we’re right about Prop sector (@200) then LH should hit 9 or so.
July 26, 2011 Leave a comment
Back on May 22 we said of LH ” We see risk of more downside – to nearer 570, with longer term and more significant support seen at 5.45-5.50″. It came of to 5.55, and with the current bullish tone we have in the Prop sector, we should see LH hit 7.4 or so rather soon.
With decent support at 6.5 or so, treat any pullback as a time to go long, or buy if a volume supported breakout above 7 comes with the expected rally when the US government eventually raise the debt ceiling.
If indeed our forecast for the Prop sector to rally to 200 points is correct, we think LH will be a star and rally to between 9 and 9.5