The technical picture adds weight to this assessment with a daily and weekly divergence (displayed on the chart on the right) plus I think ALK's chart is eerily similar to gold's chart in September 2011. Therefore it is likely that the future development of the chart is going to be similar.
I suggest shorting the stock with a weekly stop above 83$. The target is the 40-45 area with partial profit taking around the 60$ area. You may also try and buy a couple of out-of-the-money put options and see if you can catch a potential sharp move down and profit from the tail risk. Be careful though, are on 10/22 so keep your position small and set your stop wide enough so you can weather the .
Whoever chooses to go with the trade good luck.
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