UPS: Avoid And or Short
July 31, 2008 1:34 AM
The UPS house of cards run may be over. It is a short and or avoid long here, IMO, with a hard stop above $64.85. This stock is a bit more difficult to predict than many as it has been rising on falling oil, obviously. It has zero points to be long, as I see things, and a clear short point, so that is the only trade here. I am not only not happy with the low on UPS on any level, I am not happy with ANY point to be long. It is a short here, IMO.
07/31 Close Update: Once again UPS held steady on drop in oil. It needs to get under $62.20 to probably apply some pressure here.
08/04 Update: Small gain on the call but SMA’s and drops in oil are holding the stock it appears. I would not be long this stock, on any level however, it is a house of cards, as I see things.
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