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More Buyers or Sellers: Quick Trade Update

We are exiting our positions in AAL and RBLX at the open.

The extension of the mask mandate is a negative development for AAL in our view, and we view the risks as being skewed to the downside from here, with recession rather than reopening being a prominent theme. Thanks to the strong guidance from DAL yesterday we are close to our target.

A quick rally in RBLX failed to materialize this week, and our short term signal is no longer bullish. The bullish chatter we see seems to centre around an acquisition, and we have no reason to think that this may be imminent. We exit the trade with a small profit thanks mostly to a good entry on Monday.

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