Boeing Will Misdirect the Blame

NYSE:BA   Boeing Company (The)
The game-plan since December has been to prop these markets up at all costs; the PPT joined with the 6 largest wall street banks, Trump called a "buy the dip", the FED turned dovish, and off to the races we went.

For the DOW to continue higher, they need Boeing to be propped up. I envision a classic blame misdirection onto GE /Safran, the manufacturer of the LEAP-1B engines used on the 737 Max 8. Alternative, the pilots are blamed.

Besides offering what appears to be a conspiracy theory, consider the reaction we have seen off the support at $370. Another support sits at $360, and yet another at $330. The 100-day VWMA sits at $363, just between the two long-term supports. CCI and RSI are at historically oversold levels. There are a ton of institutional buyers under this bad boy, and nothing short of the truth (God forbid) will stop it from going up.

I am looking for BA to stabilize around $360 to go long - no need to jump the gun.
Comment: Broad market sentiment about the yield curve inversion could carry Boeing with it, if the fear level gets out of hand BA could break $360. Staying away as long as the 10yr keeps diving into the abyss.


to whom will redirect the blame ?