Boeing (BA) may have just reported their worst quarterly loss in the company’s history, but the wider aerospace and defense industry is flying high, Chaikin Analytics’ Chief Market Strategist Dan Russo told viewers of Real Vision’s Trade Ideas.
When Russo ran the holdings of the iShares US Aerospace & Defense ETF (ITA) through Chaikin’s stock rating model, 20 stocks were rated bullish, and only three were rated bearish.
“That tells me that away from Boeing, the aerospace and defense industry group is actually doing pretty well,” he told Real Vision’s Jake Merl. “On