Long Position on SKYW @ $13.50 on 1/22/2013 (Momentum)

SkyWest (SKYW) operates a regional airline in the United States. As of May 2, 2012, the company served the United States, Canada, Mexico, and the Caribbean with approximately 3,900 daily departures and a fleet of approximately 727 regional aircraft. In addition, the Company provides ground handling services for other airlines throughout its system.

The Company operates in two segments: SkyWest Airlines and ExpressJet. As of December 31, 2011, SkyWest Airlines and ExpressJet scheduled the daily flights as a United or Continental Express carrier: 572 flights to or from Houston International Airport, 486 flights to or from Chicago O'Hare International Airport, 412 flights to or from Denver International Airport, 306 flights to or from San Francisco International Airport, 284 flights to or from Los Angeles International Airport, 214 flights to or from Newark International Airport, 148 flights to or from Washington Dulles International Airport, 128 flights to or from Cleveland International Airport and 64 flights to or from other airports.

Shares have formed a bullish "cup & handle" and higher prices are expected for this stock. The company reports its quarterly results on Feb 11.  

52-Week Trading Range: $6.25 - $14.32 

Entry Point:  $13.50

Stop Loss:   $12.82

Target Price:   $14.85

Updates

1/30/2013 9:53:40 AM

The sudden shar rise in oil prices cause this stock to drop below our stop loss. We are closing this position and inveting the proceeds into TEX.

Position closed on 1/30/2013 at price of $12.70 with a -5.93% loss in 8 days.

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