Hey Gang,
Tonights call was a question and answer session. It was fun for me to give since you had a wide variety of questions on very good topics. There is no doubt in my mind that those new to the market who work diligently on learning in this volaitle environment will find great success!
Many questions revolved around www.finviz.com. It is a great website for searching stocks and analyzing fundamentals. I encourage each of you to get familiar with the site and the screeners that it has.
We also gave an update on the Airlines. About 4 months ago, we discussed the bottoming process on the airlines and compared them to the steel companies of the last bear market. We discussed how declining competition, increasing prices, and stable demand helped spur major growth in a few of the steel companies during the last bull market. Before entering airlines as a trade we needed to see that the selloffs in the sector became less severe. ie…a higher bottom.
Check out the chart below and you will notice the higher bottom. I am not advocating the purchase of the Airlines yet, but more bullish life is entering. A few more short term sell offs may be left as the sector struggles to move above its 50 and 200 day moving averages. A move above those moving averages will give a nice long term entry point.
Happy Trades,
Jeff
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