I went short PETM today (via PUT Options). Looks overpriced, but what do I know? If I am wrong I will take a (hopefully) small loss. This PETM rally is a bit overextended IMO. If I am right I will buy back into it at a better price.
Check the date on my previous post. I rode PETM from 61. 50 to 67.02 where it started to bog down with some resistance (67 being the key break to propel it to 70). It's been pretty much sideways since. Currently looks like a possible trend reversal, but still hard to tell which way it wants to go. I will look to get back in on reversal back to the 62-63 support range. Ive moved that money for the time being to something else. Just my humble assessment.