It Was Already in the Glass

Airlines are plunging virtually across the board this afternoon, apparently due to this news item about a DOJ investigation. 

Nonetheless, the fact remains that airline stocks have been sporting bearish chart for a good while, as they have been perennial short Watchlist ideas for members inside Market Chess Subscription Services for a good while now. Major airlines such as AAL DAL UAL are all getting clocked here, reinforcing their downtrending charts in the weak transportation sector. 

As for actionable ideas not yet oversold in sector as shorts, keep an eye on HA SKYW and VA.

Although it may seem like an unlucky headline for bottom-fishers in an ugly airline sector, especially with crude oil lower, it was already in the glass in terms of the broken charts.