Delta down 8%. Market selling off on news of Delta's continued capacity cuts. Notice we have moved down through the 90 day trend line.


Investors are getting into that same funk I caught last Fall. "Where is the bottom of these capacity cuts? "

I've been expecting the answer to be here with a turn around in the Spring of 2013. But, Delta management seems to be taking another bite which both seems greedy and lacking in confidence.


Pigs get fat, Hogs get slaughtered. Notice in one afternoon we broke a really nice 90 day trend line. There will be some value shoppers come in. After all we are below the price some Directors recently bought shares (and I'm not bearish on DAL. Just pointing out the market is tired of capacity doom & gloom).

Those morons at J P Morgan are hurting the overall market. Their derivatives losses are now going over 3 Billion with no bottom in sight since no one wants to help them undo their garbage bets. From a systemic risk standpoint, we are really no better off than we were in 2007-2008.