the endless false belief that somehow, a few traders are smarter than the market. Don't deceive yourself, the market knows a lot more that you do. Blindly deciding that a stock is over or under priced is a fools errand. You might as well put your money on the roulette wheel. Either way, the house gets it cut
Citi raised estimates for AAP, in the same sector. I'd either wait for a breakdown, or do some kindof pairs trading with AZO and some other stock in the sector (AAP, ORLY, PBY, PRTS). http://finance.yahoo.com/news/Advance-Auto-should-see-sales-apf-14410164.html
No argument with your last post at all, Short3R. I am looking at the at the 240 Jan 10 puts, just because of Fence4rd's post. Thank you Fence.
Guys, please look at short interest of AZO. Market maker squeezed your short positions because too many people short AZO. http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=AZO&selected=AZO
AZO is an extremely well run company with a reasonable PE and solid EPS, in a rising overall market environment. Short it and die.
My friend runs a mechanics garage similar to this (but on a much smaller scale obviously) and says business is booming right now. People want to repair not buy new.
Here's a tip that will save you lots of money and stress - never short a stock until the newsflow turns negative.
And all the news is happy happy right now! In fact it's too happy. Tells me this is a great one to watch for later shorting opportunity.