Airline stocks are usually held in the type of contempt by traders that many view Nicki Minaj’s shtick, including her unwatchable performance at the Grammy’s last night. However, the airline stocks have technically improved as a whole of late, and most are actually bull-flagging right now. Delta is a pretty good example of what I am referring to. Note the benign consolidation after the stock’s recent advance, as volume has tapered off. I am looking for a move back up through $11.50 with an uptick in buy volume to get involved.
Keep the sector on watch as a whole.
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I see Josh Brown (The Reformed Broker) is trying to steal your rice bowl: http://www.thereformedbroker.com/2012/02/12/the-boob-indicator/