UPS Gaps Lower
June 19, 2008 12:45 AM
I have long harped on UPS to be apparently grossly overvalued and the fundamentals simply do not support the sector. With that said, it gapped lower today. If it is going to hold the low of $64.01 it needs to hold $65.01. Watch $66.44 i believe. If it cannot get on top of that, UPS stock is in big trouble. Boy I could never have guessed that. Wait a minute, I said over a month ago to sell it and short it at $74, nevermind…ha.
I like to comment on this stock as I smell blood. $64.01 is last gasp hope for the stock.
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