I hate airlines. I made some nice change shorting AMR. XJT hit its 52 week low today, and then popped in AH. XJT is quite a bit different than AMR in that it's a regional carrier, servicing more than one major airline on some of the biggest east coast routes (congested hub traffic routes). So, XJT is in the more inflexible business mode routes, services many airlines, on a regional basis, and has pretty healthy revenue. If oil's spine breaks, the biggest impediment to XJT is gone, and it may make for a nice trade. Disclosure: I broke one of my basic rules (no long positions in airlines) and snagged some XJT today only because a very low limit order bid was accepted about 1 minute prior to market close. $1.48.
I like this at the large bushel I bought. Very bullish portend for the stock given the shitty market today and oil rebound.