Back on November 9th we recommended a potential short squeeze, Alaska Air Group (ALK) as a new buy idea. It was doing fine until Monday morning when the company decided to buy Hawaiian Air (HA) and the stock fell from Friday’s close at $39.73 to yesterday’s close at $34.08. With today’s rebound, we are gone.
Trading Instructions: Sell the position as a market order. Open price was $33.18 and it is trading at $35.46 for a gain of $2.28 which is 6.90%. This idea also was published on Good Morning Wall St today. Watch for a video on this later today as we discuss this and several other points.