I do my Tastytrade show every trading day, but today I was particularly on fire. I thought you’d get a kick out of watching my 15 minute segment – click here to do so. It’s basically the same video I’d do if I had the energy to do a market wrap-up for you right now!
I don’t have much experience trading airlines, but the chart of AAL grabbed me by the collar yesterday – it looked like a fantastic short. So did LUV and, to a much lesser extent, JBLU. In any event, I shorted all three, and today has been just dynamite for airlines. Maybe they’ll have a bounce-back, but the overall pattern is uber-bearish.
Simply stated, we are THIS CLOSE (holding up index and thumb very tightly together) to the Dow Transports breaking their nearly 80-month trendline. And oh, my Lord, what a glorious thing that would be.
