Azo

I have no problem with either short or long positions here, I am only basing my decision on technicals, not on a guess what AZO will do, but rather a guess based on the current technicals. I will be quick to jump out if the technicals show me that my position is wrong. Right now, as of Friday, the technicals say short. (Although it is at minor support as i write this, so an up day early next week would not be unexpected.)

And to that person who said it was going to $500, i am pleased to say bullshit! That it will NOT do in the next two years.

P.S. Cashmoney, i agree with you.


Quote from risktaker:

During the last 'major' recession in the early '80s one sector that was doing well was retail auto parts. At least at the retail sales level. Some companies were actually opening new stores in the middle of the recession.

Retail auto parts don't quite correlate to the 'regular' economic cycle, at least that's the thinking from some people out there.

But since today's cars are much more reliable and the # of DIY home mechanics probably less than ever, I don't quite share the above argument.
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IMO, as of today, AZO is no longer a technical short, nor is it yet a technical long if you are not already long. It has made 3 failed attempts to close over resistance at 167 in the past three weeks. It is currently trading in a range between 155 and 167 and has developed some support in the middle of that range about 161 and has been trading mainly between 161 and 167. Today it made a foray to one tick below 170 suggesting it is ready to move out of consolidation and break higher, but on the other hand it closed once again where it has so often between 166 and 167 suggesting that it may once again retreat down to 161. It has established a minor up trend line across its trading range, and could be bought on a pullback once it shows itself capable of closing above 167 on decent volume. It is looking more like a long than a short at present, but that could easily change, ad it could even be in the process of making a rather messy double top. Volume has been average to below. Usually when a stock knocks persistently on a door, the door will eventually open, thus i would be cautious about assuming that AZO will once again retreat. I bought back my last put today at a modest loss, for an reasonable profit overall.

Quote from piezoe:

I have no problem with either short or long positions here, I am only basing my decision on technicals, not on a guess what AZO will do, but rather a guess based on the current technicals. I will be quick to jump out if the technicals show me that my position is wrong. Right now, as of Friday, the technicals say short. (Although it is at minor support as i write this, so an up day early next week would not be unexpected.)

And to that person who said it was going to $500, i am pleased to say bullshit! That it will NOT do in the next two years.

P.S. Cashmoney, i agree with you.
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This is why naked short selling should be illegal, and condemned by the SEC. The shorts that are illegally short want this to keep climbing, because they never have to cover, and never get a margin call. They can just keep shorting the higher it goes, because they know within a year it will be below 10 dollars. If you have the gusto, short the hell out of this bastard right now, because it is over. I am looking at a stock as overpriced as CROX was, due to naked short sellers.

This will be your home run trade for life!
 
Quote from RiceRocket:

This is why naked short selling should be illegal, and condemned by the SEC. The shorts that are illegally short want this to keep climbing, because they never have to cover, and never get a margin call. They can just keep shorting the higher it goes, because they know within a year it will be below 10 dollars. If you have the gusto, short the hell out of this bastard right now, because it is over. I am looking at a stock as overpriced as CROX was, due to naked short sellers.

This will be your home run trade for life!
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Rocket, i'm a little confused by your post. Generally naked short selling has a depressing effect on price, doesn't it?
 
Quote from cashmoney69:

time to watch azo again, put this on your radar.
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Agree. Perhaps setting up to fill the gap made on March 3rd. But earnings coming out on May 27 before mkt opens. That it was weak two weeks before earnings and then two days later, both on volume spikes, makes me think it may not beat. Weakness Wed & Thurs this week may be just traders not wanting to hold through earnings. I'm watching it closely again. It has been good to me recently on the short side.

Added in edit: No position currently.
 
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