As I posted previously, I'm waiting until after they release earnings to open another short position.
AZO has not announced a date for when they will be reporting earnings. So the end of this week isn't really something I would be thinking about.
I'll be looking for a 10% correction in price to what ever top the stock can manage after earnings are released. Figure it will take between 2-5 weeks to complete the correction. Then reevaluate from there. So, here's an example using very broad, round numbers: if it runs up to 90 in the week after earnings and I short it, then the stock continues to run up to 100 in the next few days to follow, I'll be looking for a correction down to 90 and effectively I'll be assed out of any profit. If it stays at 90 and begins to decline from there, I'll be looking for 81 to exit. I'm targeting for a PE of 16.5 based of forward estimates.
Then again, depending on just how strong the earnings are and it's effect on forward PE, I'll adjust accordingly. Keep in mind there are some very strong buy recomends on this stock with price projections up to the mid 90's so don't go playing with the grocery money on this one.