Something’s Gotta Give
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The quarter closed out with a bang, and why not?
Think about where stocks have been over the last three months! We started April with the major indices digging themselves out of a hole that was created by the outbreak of COVID-19, and the "Irrationality Rally" took over from there as investors clearly thought that they were going to miss out, again.
And they would have!
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Delta Air Lines Inc. (NYSE: DAL) just announced that it's retiring its Boeing 777 fleet - a sign that the company doesn't expect international travel demand to surge anytime soon.
The stock has now jumped out of the "backyard" profit zone of our butterfly spread, leaving us with a small loss.
Time to preserve capital and move on to the next trade.
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Airlines have been one of the hardest hit industries these past few months.
Smaller airlines are filing for bankruptcy. Warren Buffet dumped his airline stocks last week. Bailout money is expected to dry up later this year, forcing airlines to cut jobs.
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Southwest Airlines Co. (NYSE: LUV) released a favorable earnings announcement this morning, and Delta Air Lines (NYSE: DAL) is moving up in sympathy.
The stock took off big to the upside today, leaving our butterfly spread at a loss.
Let's exit this trade now and move onto the next one...
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Airline bellwether Delta Air Lines Inc. (NYSE: DAL) announced earnings last week - an announcement that lead to a volume spike and little movement.
You see, the earnings were, as expected, not good.
For the first time in five years, DAL posted a quarterly loss and stated that it does not expect airline travel to recover for two to three years.
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Earnings are popping off, and we are ready to pounce on a trade opportunity the moment V3 provides us with a profitable setup.
While we didn't see any today, we do have something important to take care of...
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Delta Air Lines Inc. (NYSE: DAL) reported mixed earnings on October 10, 2019 before the bell.
Revenues beat expectations and costs were expected to increase going forward. The mixed news had the stock drop to $52 support and bounce.
We'll be taking advantage of this strong support level that goes back to April of this year with a high-probability Credit Loophole Trade (bearish credit spread) that will profit as long as this level holds.
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This morning as I was scanning the Alpha-9 radar - a strong signal hit the waves signaling a trade we couldn't miss.
And today, we're looking at this massive airline stock.
So, let's get down to our newest trade...
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The markets are showing some early upside price movement in to kick off the trading week. And this is giving Weekly Cash Clock three different bullish signals that we're going to take advantage of this afternoon.
Now let's get into our three bullish profit alarms...
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