Excerpt from The Street quoting DataTrek Research:
…. “Boeing. BA’s run has been massive, and actually somewhat puzzling to me. In a Real Money column a few weeks back I mentioned Boeing as a good way to play a “buy beta” trend in the market. As of yesterday’s close, BA shares had rocketed $100 per share higher in 2019, a gain of over 30%.
Jessica Rabe and my old competitor in the arena of auto analysis, Nick Colas, do excellent work on market technicals at their firm DataTrek Research. They noted today that BA’s rise has accounted for 30% of the price-weighted DJIA’s 2,450 point gain thus far this year. A thaw in the U.S-China relationship would clearly help Boeing’s fortunes, but I believe that has been priced in — and more — in the stock’s major move. Look for a pullback in the next few weeks, then a more market-hugging performance for the rest of 2019″….
Read the full article here on The Street!