So many stock market parallels…
Boeing is still absurdly overbought on the monthly chart, riding its upper monthly Bollinger Band since March of this year (!). That is not much consolation for shorts after Thursday’s massive rally. But I am not looking to add back to a long-term position on it either.
Simply put, the stock is running on fumes, stretching out to the point of being comical as far as history is concerned, Bernanke (and Yellen) or not.
See my original bull thesis for Boeing as a long-term investment back last year in this post.