Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of JetBlue
So What: Media reports are characterizing JetBlue's rise as a sympathy rally. I think that's right. AMR and its legacy peers may be looking better, but fuel prices could reverse themselves at any time and put pressure on the industry once more.
Now What: Investors are rightly enthusiastic about AMR's turnabout, but we won't know whether JetBlue deserves today's rally till tomorrow, when it joins United Continental Holdings
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