01Apr2:38 pmEST

A Quick Southwest Flight Heading South; Chess Moves

I just went short LUV, Southwest Airlines, at $43.44 with a protective cover-stop above $45 on a closing basis. 

LUV has enjoyed a magnificent multi-year uptrend, unaffected by its steepness.

But as the daily chart, below, indicates, the stock has gone sideways since late-January. Ultimately, for my short to work the stock likely needs to lose $42, below. 

Either way, the stock is losing its 50-day moving average today and is not yet oversold, giving me enough evidence to take a stab at a short in a sloppy overall market. 


More Intraday Action; Chess ... Chess Move Into the Bell

 
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