Market Recap: Paper Planes

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[youtube=http://www.youtube.com/watch?v=asNbeOBZaTs]

The Reformed Broker, AKA Ted Stryker, here with today’s Market Recap…

You know it was a snoozer of a day when the most interesting thing  can point out was the beating the airline sector took.  The latest data on air traffic showed a decline of 3.1 % in April, after an 11.1% decline in March.  Still painful, but the rate of pain is decelerating.  There’s your Green Shoot of the day.

Here’s the 3:30 look at the airline stocks, hold your nose:

Market Capitalization % Change Market Cap
DELTA AIR LINES NEW [DAL] -10.24% $4.8 B
CHINA SOUTH AIR LTD [ZNH] +0.66% $2.0 B
TAM S.A. ADS [TAM] -0.78% $1.4 B
A M R CP [AMR] -3.78% $1.3 B
CONTL AIRLINES CL B [CAL] -6.11% $1.2 B

The green one is Chinese, big shocker.

The Dow gave up most of yesterday’s gains, down around 150 going into the last half hour…easy come, easy go.  Memory chips names were strong, but does anyone care about those 3 or 4 stocks anymore?  Echo?

In solidarity with those looking at paper losses on their airline stocks, enjoy Andy Milonakis’s cover of M.I.A.‘s Paper Planes.

Thanks for reading today, have a great night.

Full Disclosure: No positions mentioned, don’t trade based on any of my commentary on this site.

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