Elvis,

What you see is mostly a reaction to oil prices and the fact that manipulative traders like Goldman Sachs (who use our tax money to bet against us) are getting their butts handed to them.

Airlines are not a counter trend trade for the overall economy. Just oil.

The market is foolish. Republic's stock is up today while insiders are dumping like an ER FO on his first day home from a 9 day after a breakfast of raisin bran. That even with the fact that most of RJET's fuel is a pass through cost.