We have spoken as of late about how discretionary names that have their hand in the experience arena have benefitted as consumers are “living life” after being couped up for a couple of years. Is one stock’s loss another’s gain? Is one management team better than another? Not too long ago we highlighted the ratio chart of EB against LYV and the former has had the upper hand. Which one has a better read on the space? As technicians, we believe that is all noise and it makes perfect sense to focus solely on the PRICE action of any name one is looking to purchase. Below we take a look at the ratio chart comparing BKNG to EXPE. Perhaps it is as simple as looking at how they were acting before their most recent earnings reactions which saw BKNG in an uptrend (now just 1% off most recent 52-week highs), while EXPE was floundering and now trades 12% off its own annual peak. On 8/4 after earnings BKNG jumped 8%, while peer EXPE slumped 16% the day before. Strength often begets strength, so if I had to choose a horse between the two, I would have to back Booking.