"It's very possible that some people are getting a bit too optimistic and getting in too soon." Another firm that has defied gravity in recent weeks despite posting some weak first-quarter numbers is Delta Air Lines ( DAL ). Admittedly, Delta's stock has fallen sharply over the last couple of years, and the firm has been making progress on its restructuring efforts lately, but a 38% jump in shares over one month seems excessive, given the many problems that still exist for the company and for the industry. The carrier reported a wider net loss in the first quarter and said it sees sharply reduced capacity for the rest of the year. "Some of the airlines had a big risk premium built in because of the war, and now that's being unwound," said Peters. Amid all the gambling, cheaper and safer bets such as Starbucks ( SBUX ) have languished. In fact, Starbucks has fallen 10% over the past month despite reporting a 64% jump in first-quarter profit and a 7% jump in April's same-store sales.