Aloha,
AMR closed today at another record low, $2.92. AMR has decline over %50 since I made this call less then 2 weeks ago. Now that AMR has closed below $3/ share, for the first time, the floor has been broken. There isnt any reason for the stock to go up. There are a lot of reasons for it to continue to go down. Oil, labor unrest, war, debt servicing, and pension shortfalls to name a few.
With difficult labor talks coming, in the new future, investors have learn that they always lead to bankruptcy and not a peaceful settlement. There hasnt been an airline in such poor finacial shape that tried to talk to Unions for help that hasnt had to go down that path. To bad the Unions can not learn from other Unions mistakes. We shall see if the AA Unions have. I doubt it.
ALOHA, 007