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UPS: Getting The Hammer As Warned

June 26, 2008 12:19 AM

I have long questioned the valuation of UPS. I also said to short it at $74.00. I have also questioned why would anyone buy it in a weak economy with soaring energy prices. I rarely comment on so called “fundamentals” but sometimes they are just to overwhelming to ignore. If I recall, I said something not long ago like “if you are long UPS you are a moron”. Well, maybe not exactly, but I certainly alluded to it. My call to short it at $74.00 was a “supply and demand” call (some people refer to this as charts)…but the rest of my commentary has been about valuation and fundamentals. I just saw ZERO reason to be long the stock.

Oddly enough, UPS set a 5 year low today. Boy, I could never have guessed that in a million years. Wait, I did guess that and have been harping on this issue repeatedly for 2 months.  It is $61.40 currently and I see no sign of a low.

Written by Tom@StockBlade.com · Filed Under UPS 

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