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As Crude Oil [US@CL.1
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()] broke through the $119 level today, Fast Money's Jon Najarian might finally have a little bit of optimism in the airline stocks.
AUGUST 5TH RECAP
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With the near 20% correction perhaps pushing into bear territory for Crude Oil, it's creating a lot of love in share prices of the airlines.
"Just look at the sheer turnover in American Airlines [AMR
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()
]. Look at the same thing at United Airlines. Both of these stocks trading up through $10 a share. You could have bought each of
them under $5 and you could have bought United [UAUA
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()
] under $3 a share just in the last few weeks" said Najarian.
Is it time to accumulate new positions in the airlines?
Najarian expects a fall for the second half of the year (in particular in the fall) when he believes things will stabilize. His trading advice is to "Sell the rips, and buy the dips, where you have had a chance to do both in the airlines."
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