What's LUV Got to Do with This Rally; Chess Moves
With many airlines and transports in general selling off despite the broad market rally, I am going to take more advantage of it.
I just covered another piece of my LUV short here at $41.13. My initial entry was last week at $43.44, followed by my $42.94 add. I took partial profits this morning, but now the stock is sinking even lower.
I have roughly 1/3 the size now of my original with my stop at my $43.44 core entry price.
LUV is now oversold, free and clear below the lower daily chart Bollinger Band (below). So, we will see if the stock has a complete wipeout on the final piece of the position.