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AutoZone, Inc. Message Board

  • rusty7860 rusty7860 Dec 9, 2008 4:48 PM Flag

    SHORTS GOT CREAMED TODAY

    I am sure ky-gel was flying off the shelves today.

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    • Actually if you were short going into earnings yes, but I bought when stock was about 8 dollars up after it came off it's highs with a stop limit 2 dollars above that, it came down and went up and almost initiated the sell stop, but by end of day I was up.

      • 1 Reply to reywdsuyt
      • Unfortunately, I did re-short AZO ahead of earnings. I erred in thinking the pre-earnings rally wasn't sustainable. I have a cushion with this stock, though because I shorted it late the week before last and covered during last Monday's 600+ point drop in the DJIA. That made me too eager to re-short when the stock jumped up again. I didn't add to my AZO short today, but I didn't cover that short either. I added a small Jan 115 put position and may add to that position later this month. Fortunately, my other shorts cooperated better today, including my UPS and BNI shorts, which I covered. I'm not happy about my AZO short position, but I think there are enough reasons for me
        to hold it.

        Congratulations to those who made money being long AZO for about a week and to those who weren't short ahead of earnings.

 
AZO
798.72+4.88(+0.61%)4:00 PMEDT