COST is a safe short at 162

[Muffhands]

Lol ive been long this trade since around 150.... Deff not a safe short. Doesnt take a rocket scientist to see the multi year trend that is happening right before your eyes... Let me help you save some money....

 

[Muffhands]

157.5 could touch , but why go against the trend? My PT is 180+

 

[Muffhands]

Do not expect too much from COST when its P/E is over 27 and the only thing that it does is selling packs of 100 canned food or pack of 200 toilet paper rolls. $157.5 is the right price.

if you really believe thats' all costco does, clearly you have no clue what you are doing....

 

[Muffhands]

 

[hajimow]

http://marketrealist.com/2017/11/wh...il&utm_medium=feed&utm_content=main_permalink

 

[Muffhands]

How does that article help your case? I don't read any of that bs. I just use my charts. Multi year trend continuation happening right before your eyes.

 

[hajimow]

I am providing all the info. It does not need to help me. I did not twist anyone''s arm to short it. I just recommended and that is what I have done. The article also says valuation is high compared to WMT and TGT. By the way, I am the executive member of COSTCO and I know ins and outs of COSTCO.

 

[hajimow]

And did I say Patience is the virtue ? As it goes higher I give the right dose of shorting more. Store comparable sales are up 2% YOY and AMZN is pulling back and investors are buying AMZN's competitors like WMT and COST. Nothing earth shattering has happened. I kept shorting HD and it kept going up and today it paid off. Be patient baby. Be patient.

 

[Muffhands]

Most companies are highly overvalued at this time. Market will stay irrational longer than you think.

 

[hajimow]

Most companies are highly overvalued at this time. Market will stay irrational longer than you think.

I agree and I will be stubborn as long as they stay irrational. I sold 157.5 PUT double my short position expiring tomorrow for 0.62 so while I am waiting, I am also making money (reducing the loss). I was long on COST when it dropped to 156 after earnings and then I sold at 161. The trick is that if you can or plan to short 1000 shares, just short 200 now and wait and have the right ammunition to short more and correct your trades with options.