Friday, August 14, 2009

Boeing Announces More 787 Flubs

More problems with the 787 Dreamliner may cause Boeing's stock price to finally crack. After several attempts to break through the descending trend line, this morning's announcement may be the last hurrah for this "dreamliner."

In pre-market activity, Boeing is bid at 45.05 from yesterday's close of 46.62.

We managed to exit our long call position two days ago, shortly after writing the post expressing disaapointment that the market did not spike on the Fed's news. Seems that my disappointment came right at the market low for the day. As I posted my blog, prices rose sharply but it was apparent that Boeing was not going to see 47.


With the heavy correlation between Boeing and the Dow average, is this drop a sign of future things to come? Despite the heralding of the end of the recession, unemployment numbers, retail sales and bank defaults continue to disappoint. Seems that we are being fed an unending line of BS from the government and news sources.


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