American Airlines AAL ready to bounce yet?

American Airlines Group, Inc. (NASDAQ:AAL)

Updated

NASDAQ:AAL American Airlines Group, Inc.

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I've never traded airline stocks. I like AAL here though-seeing a potential broadening formation. I might consider a small position and set a target for that unfilled gap. Longer term, airline stocks appear cheap right now although I'm not ready to turn bullish on them yet. I'm just not that familiar with them.. but this looks like it has good potential.

Comment:

3-8-2020 and I'm looking at USOIL down 33%... incredible! S&P futures down 4.89% (o/n limit).. This week is going to be very bad for a lot of people. Historical. I've remained short S&P and long volatility.. Tomorrow who knows what's going to happen. Perhaps I need to wait a little longer on airline stocks..(?)

Comment:

market might be bouncing.. but this could be a large corrective wave abc.. let's see if we get a very strong up rally.. then perhaps another nasty plunge this summer (?) I bought a call on aal today into the fear.. the smell of the fear was too good not to be buying.. sell/short greed.. go long fear.

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