I have three things I wanted to cover.
First, a self-interested request: if any of you are involved in remodeling (as a contractor, a vendor, or anything else related to home improvement), I’d really like to hear from you. No, I’m not remodeling my house……..I’m simply doing some research for this new business project that I’ve been so secretive about (and which some of you are testing). So if you have remodeling background, particularly as a business owner, I would love for you to email me by clicking here. Thank you!
Second, 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!
Third, and finally: 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.