Tuesday, November 1, 2011

1st Nov 2011–Autozone on fire sales!

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

 

 

327.50

 

 

 

 

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

  1. Earning was out, stock tried to move higher but was slammed down.
  2. All 3 indexes have advanced big time, but AZO stock is not moving anywhere. Every time (3 times in fact) it tried to move higher (around $332.50), it got slammed down.
  3. Long term weekly chart shows that price has came down from the long term uptrend line.
  4. Intraday shows weakness yesterday when index gapped down before open.

 

Lesson Learnt:

 

  1. Have shorted this stock before and failed. Be careful, no matter what it is still a strong stock.

 

Intraday Chart

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Historical Chart

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