Last night we looked at the major rails as being short candidates on further weakness, and that continues to be the case.
Tonight, consider the major airlines as bear flagging after steep declines, setting up another leg lower below Tuesday’s lows, for DAL LCC UAL. The lack of a strong bounce from the recent high sell volume decline likely indicates churning of dip-buyers, and the idea is that they will get flushed if supply overwhelms again.
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