Autozone, ticker AZO, is challenging the upper reaches of the Dec 7 outside reversal on the daily chart. Company buying back another 500 million in stock and insiders selling hand over fist.
This and a quick look over the 10yr chart I can only conclude that it must be yet more brilliant Ivy league management spending shareholder cash to buy it up here (from insiders?). Time will tell how it will all work out.
Based on all this, I am punting 1 unit of AZO short up here at $270.61
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Short 1 unit Autozone ticker AZO @ $270.51 stop @ $ 272.21