|Day Low/High||372.23 / 377.00|
|52 Wk Low/High||292.47 / 436.33|
Boeing's stock price was poised to tumble even before the tragic Ethiopian Airlines crash that grounded the company's new 737 MAX jets.
Trump may play the waiting game with China. This could weigh on the market.
You may recall that TME, the Chinese Music streaming business that IPO'd last December, while not a trade related play, certainly would be a Chinese growth play.
It is going to be hard for the bears to gain much traction right now, so build gains while you can by focusing on stock picking.
I would expect some tough sledding over the next day or two ahead of Wednesday's FOMC policy meeting.
Consider these five, right in front of you on this one day, so you get the perils of stock ownership and know how to handle them when they occur.
Overall, analysts are optimistic that turnaround timelines will be able to remain on track.
A low-risk strategy would be to buy Boeing here with the understanding that the trade will be closed if the stock breaks below the 200-day moving average.
At least those among you who still choose to take a flyer on Boeing will do so better informed.
* The consensus is growing more consensus! * The notion of risk has left the Exchange's building * The last hour of trading uncharacteristically weak Today's session was another one supported by good overall breadth (2,154/786 on the NYSE). Howeve...
China, home to 22% of the 737 Max planes in operation so far, was the first nation to ground the plane.
With all the unknowns surrounding Boeing it's way too early to take a position in the aircraft maker; the same is not true with CVS.
What surprises me is the willingness of some of the alarmists to move totally to cash at this point in order to avoid any downside.
* The FAA's decision to let Boeing 737 Max flights to continue in the U.S. is another example of wrong headed policy coming out of the Trump Administration that could have dire consequences Two Boeing 737 Max crashes have now occurred under remarkab...
National security is job one. Cutting a nice deal with China that benefits both sides must come second.
Boeing is down another -$8 in pre-market to $367/share. Paradise lost, again.
Dick's can teach you more about what's happening in the overall market than anything else I saw today.
Potential buyers are faced with a small dilemma here.
Strength in Apple and other FANG names are pluses, as are pockets of action in gold mining, cannabis, biotechnology and shipping.
I suppose I should have kept my Boeing short (Sixty-Minute Trade) of Monday. The shares are now down $14 to $386. So it goes...
No one wants to be caught being too negative if a trade deal is made, but there will be plenty of market players looking for an exit into strength.
After a solid showing Monday, the question now is whether the market can continue to move upward with no major news events looming.
Boeing's big demand driver is stinging the stocks of its biggest customers.
Rallies on a sentiment switch are often among the best.
My only trades today were: * The Sixty-Minute Trade shorting Boeing (and covering) * Additional and shorts.
The stock has already tested both short-term support and potential resistance levels on Monday.
With my time almost up I have covered the balance of my Boeing short -- goodbye to my "Sixty-Minute Trade."
I am taking half of my Sixty-Minute Trade (shot ) off at $390.55 for a nice gain. Thirty minutes to go!