$KO — Best Short Idea
[[KO]], Coca Cola
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Still not convinced? Warren Buffett is just about OUT OF KO. That, for me, seals it.
“A couple of years ago Buffett came out and said he wished he had sold a number of his key holdings like Coca Cola.” He specifically had said he wished he’d sold KO back in the 80’s when share price went as high as $85 (I think, too lazy to check, sorry). And he’s finally out.
This doesn’t look too bearish. Parabolic and over-extended? Perhaps. Bollinger Band crash trade signal? Sure, but there was one last week, too.
My downside targets: first stop $50, then $45, and possibly $42.
Time horizon: 3 months or so.