The Arthur Penn-directed Bonnie and Clyde (1967) merits a viewing regardless if you have seen the recent television mini-series of the same name.
Warren Beatty, the stunning Faye Dunaway, Michael J. Pollard, and Gene Hackman headline the action-packed, crime thriller based on the real-life Great Depression outlaws and robbers, Bonnie Parker, Clyde Barrow, and their gang from the Dallas area roaming the central U.S..
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I suspect the entire airline sector, which has been quite hot indeed, will correct imminently.
In fine-tuning a “shopping list,” I am more inclined to look at a JBLU (or the previously-charted RYAAY), which has not seen as steep a run into all-time highs as LUV has.
You can see both JBLU and LUV on their respective multi-year charts below. Watch $7.60 to see if the major breakout holds on pullbacks. I expect the overhead supply on LUV to cause turbulence over the next few months.
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Comments »The City of London is perhaps the leading financial center in the world. This BBC, two-part documentary presents a fascinating look into the City of London, from the practices of its buzzing financial sector, through to its surprising and peculiar history. It offers an interesting insight into the history of the City, from the establishment of markets through to the global financial crisis, and presents comments from a range of people in the City, from an ex-trader through to the director of a large trading house.
The City vies with New York City as the financial capital of the world and many banking and insurance institutions have their headquarters there. The London Stock Exchange (shares and bonds), Lloyd’s of London (insurance) and the Bank of England are all based in the City. Over 500 banks have offices in the City, and the City is an established leader in trading in Eurobonds, foreign exchange, energy futures and global insurance. The Alternative Investment Market, a market for trades in equities of smaller firms, is a recent development. (source)
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The continued strength in the Japanese Yen is almost assuredly helping to pressure stocks. On the Yen ETF, below, you can see the daily timeframe. I profiled the monthly this morning for the broader view.
But, here, as long as $95 now turns into newfound support I am seeking to be a buyers next week. Note the high buy volume this week.
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I lightened up even more today, in part, due to the fact that we may see a margin call swoon on Monday morning (or afternoon). I am still seeing too many bottom-calls and bottom-fishers out there to think we have a real tradable low. As a result, even some of the better performers of late, such as various commodity instruments, may also get hit if the margin calls ensue…Just a thought, who knows, but maybe even the precious natty gas will get hit as an innocent bystander to margin calls?
Also note the vicious breakdown in Japan. Many, many bulls were jumping on this bandwagon a few weeks ago. I am proud of 12631 members like @chivotrader who stuck with the short trade and recognized the crowded boat. Check out the potential for a major weekly move lower now, coinciding with the recent Yen strength I discussed this morning.
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