Airline Stocks Tumble
Last week I commented that the airline stocks looked heavy and that I shorted them last Friday.
Since then they have come down and today they made new lows for the year. The weakest group today was the XAL index down over 4%. Stocks such as LCC, AMR, CAL and UAUA are all collapsing even with the stock market moving higher this past week. On Monday if they gap down, I will cover the majority of my short position.
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3 comments:
I am wondering what is going on with GOOGLE. Your comments are always insightful. and the stock is bouncing around since the last earnings call. What do you think?
What are your thoughts on interest rates ? Will the FED raise to counter Inflation before they have to cut due to a slowing of the economy ??
I have been short
TAM and GOL in the airline group. They still look heavy.
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