What I see happening here is DAL is potentially failing to hold key support at 35.80 that has been tested twice already in the July selloff: first on a major gap down (where I had suggested to cover shorts) and again two days later. DAL looks ready to move lower to 32 where I see it taking several attempts to bounce off of it.
I view risk as a stop at $37 and a re-short at $38.40 strong resistance. Look to cover at $32.50-$32 over the course of August. Note that Gambling stocks are moving lower and airline stocks often follow Gambling stocks, with a lag.
Tim 11:23PM EST 8/7/2014 35.61 last DAL
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