Express Scripts and a Look Back
A week ago I suggested shorting Avalon Bay and Health Net. I'm pleased to see both of these stocks have fallen pretty much every day since then.
Another stock I've been watching a while is Express Scripts (ESRX) which broke its neckline today and seems like a pretty clean short sale.
Another high-flier which looks like it has double-topped is old favorite NutriSystem (NTRI).
My recent "bullish picks" absolutely stink. I think I'll stick with being a bear! There are just so many great shorts out there right now. If I get time, I'll review a few this afternoon.
2 comments:
Tim I'm going to call you on AVB. You called it short on Monday - it closed that day at 106.61 and on Friday it closed at 106.03 which was its first down day that week. Now I note today of course that it is down 2.63 which is ok - but the market absolutely sucked today so everything was down. Just a quibble.
I don't know if the market or AVB are going to stay down. The patterns suggest a one day event and it wouldn't surprise me if tomorrow they came back again. Volume was tepid at best and the VIX is still showing a moderately oversold condition.
Oh well, trail your stop and take the profit you so richly deserve.
And I mean it.
I see the double top, but there is not increase in volume to the downside. I don't think its a very reliable double top based on the books I have been reading.
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