"They" havebeen saying that for 2 years. And it's true but it does not mean anything, just scare tactics. On Friday Celgene broke out to the upside. On strong volume. But today it is selling off, for absolutely no reason. Just a trading move.
Yes but you have to wonder about Jubak's reasoning. I read his blog and he does not make a convincing case. He has proven wrong on the commodities sector more often than right -- for example he still owns SDRL and Yamana Gold.
Unfortunately the non-hedged aspect goes both ways. Seems to me that with the refinery strike, investors now see fuel pices spiking. But I agree, it is odd that over the last month Aal has been basically stagnant including today's move.