Hard Landing?

We are all aware that markets are forward looking and like to look generally 6 months out. That is where the old adage comes “sell the news” comes into play. The easy money has certainly been made in this market over the last one year period, and now one has to ponder if the strongest “reopening” trades need to let some air out of the trade. The trend is still higher for these names, and when we look within the airlines via the JETS ETF, it could be coming into a spot that is often a good time to initiate a position. The first time touching a rising 50 day SMA after a breakout represents a good risk/reward scenario. Looking at the top components in the JETS fund, ALK is lower by more than 7% this week thus far. It could still bleed into the round 60 number area. JBLU is off a quick 12% from most recent 52 week highs made just last week. AAL could be interesting if it can trade to the very round 20 number. This overall market is becoming tougher by the day to trade. Let your names come to you and do not press. And of course as always utilize good risk management.

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