RTX falls on good earnings and defense budget issues
RTX is part of the boom defense sector thriving because of back orders created by
the Russian war against Ukraine. No matter good earnings it fell this week because
of the defense budget debate in Congress. No matter good intents to rein in the
defend spending escalation and spend in other areas such as social and infrastructure,
Russia has made the world more dangerous and national security of the US and its allies
trumps most spending except perhaps insterest on the national debt and paying the
holders of Treasuries. RTX dropped more than 10% from its tight consolidation range,
I see this dip as an excellent buying opportunity into a leader in the defense sector.
the Russian war against Ukraine. No matter good earnings it fell this week because
of the defense budget debate in Congress. No matter good intents to rein in the
defend spending escalation and spend in other areas such as social and infrastructure,
Russia has made the world more dangerous and national security of the US and its allies
trumps most spending except perhaps insterest on the national debt and paying the
holders of Treasuries. RTX dropped more than 10% from its tight consolidation range,
I see this dip as an excellent buying opportunity into a leader in the defense sector.
Trade active:
Sideways price action albeit with decent trading volumes above the running mean. Accumulation before the recovery. Holding full position.
Comment:
Updated idea
