Ricks Picks header image

Boeing’s Insane Surge Flouts Criminal Probe

0 comments

Boeing’s $9.65 surge on Wednesday, an astounding one-day gain of 7.3%, pretty much sums up the psychotic nature of the stock market’s epic squeeze. It occurred with this item on the front page of the Wall Street Journal as a backdrop: “Boeing faces criminal and civil scrutiny into years of widespread quality-control lapses on it 737 MAX assembly lines.” Fancy that! And yet, buyers seemingly couldn’t get enough of the stock yesterday. Its sharp rise was perfectly synced with the FAANG/lunatic sector, which powered relentlessly higher with no exceptions or laggards. Driven by short-covering and a deft lightening of supply by The Smart Money, the rally is as disconnected from reality as any ever witnessed. In dollar terms, it is the most powerful rally ever.  For my thoughts on when, and how, it could end, check out the E-Mini S&P tout immediately below.

Please do not ask trading questions!

Leave a Comment


Do you want up-to-the-minute technical analysis and forecasts for your favorite stocks, commodities, ETFs? Join our Take Request Session on June 2nd!

No, I'm not Interested

Want Proven & Simple Trading Strategies in an Economic Crisis and Volatile Stock Market? Download the Free Impulse Leg Toolkit!

No, I'm not Interested
Impulse Leg Toolkit