Stocks, Trades and Ideas

New Trade: Short AZO

Needs to pull back:

  • Short-term overbought
  • Printed a very tired candle today
  • Reached the top of the Bollinger Band and got rejected
  • No love at 200MA either
  • Recently 50MA crossed over 200MA

[[AZO]] – AutoZone, will announce earnings on Dec 9.

So few stocks over $100 left, this is also a good reason to short it 🙂 It’s over $100! In this market!

Unfortunately, this stock is heavily manipulated, as Eddie Lampert (of Sears fame) holds a big stake in AZO, and he’s been unloading, though slowly. But even the most manipulated ones give in sooner or later. Bid/ask spread is huge: no market orders.