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Trade idea: Short Boeing as shares drop
Serge Berger, also known as "the Steady Trader" is looking to short US airplane maker Boeing.
He says that last week equities rallied off the back of the FOMC meeting, but the entire industrial sector has had a "most significant pullback." Boeing has rallied almost 18 percent over the past month, but it closed down 2% on Friday.
As a result, Serge is looking to short at USD 116.70, to place a stop at USD 119.20 and his target is USD 111.30.
Boeing hasn't had the easiest year with its new 787 Dreamliner, which had to be grounded for three months because of numerous problems with overheating lithium-ion batteries.
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00:55 minutes
Tags: 787 dreamliner, airplane, boeing, boeing dreamliner, dollar, dreamliner, economy, fed, federal reserve, fomc, industrial sector, investing, investment, saxo bank, saxo tv, serge berger, the steady trader, trade idea, trader, tradingfloor.com, us airplane, us economy, usd