Get in the zone! Autozone! AZO breaking out and will double from here.

Discussion in 'Stocks' started by Port1385, Feb 21, 2009.

  1. Just keeps going higher, might double from here on the breakout.
  2. Redneck


    You are Stock Trader3 incarnate aren’t you
  3. Brandonf

    Brandonf ET Sponsor

    Generally speaking he is, but even an idiot sometimes says something smart.
  4. Redneck


    I just pulled AZO up on my platform

    It closed 146.39 (higest ever)

    On what basis are you saying it will double

    And what time frame
    And what stop loss

    I'ts the weekend - I should not be working but what the heck
  5. Interesting.

    What's the reason behind this? Perhaps people aren't buying new cars so they need to buy more replacement parts for the older cars they currently own?
  6. hughb


    That's what the commentators have been saying, (KNX radio AM 1070).

    The WSJ has been giving more ink to ORLY though.
  7. Short Squeeze.
  8. NoDoji


    Spot on.

    AZO and ORLY had nearly 10% short interest coming into ORLY's earnings and subsequent gap. I've played ORLY intraday to the short side since then and once the covering stops propping it up, I'll likely take a longer term short position.

    These mini-bubbles off earnings happen again and again; take advantage of them.

    Look at the private education stocks hitting 3- and 4-year highs a few weeks ago; nice pullback for those shorts who weathered the squeeze.
  9. Brandonf

    Brandonf ET Sponsor

    It was nice gains for those who bought in and traded too :) That's one great thing, IMHO, about trading is that there are 10,000 ways to do it.

  10. NoDoji


    No doubt! But I feel so much safer shorting tops in a bear market :p

    Thinking AZO will double because it broke slightly to all-time highs carrying a large short interest into earnings seems a bit naive. If the OP had made this statement in the midst of a bull market, I'd say full steam ahead!
    #10     Feb 22, 2009