UPS: Sell Here, $74 Is A Short
April 24, 2008 11:34 PM
Strength in UPS here should be sold, IMO. Besides the fact that energy prices may hurt their profits for a LONG time, the stock has to be clear $75.08 to be long up here. $74 would be a short with a hard stop above that and any strength should be sold here, IMO. It needs to hold $68.36 to the downside, so the stock appears to be a scalp near term, not a lot of room until something clears. But being long this stock up here is not wise.
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Nice writing style. Looking forward to reading more from you.
Chris Moran
Thanks Chris. I try and help the average Joe avoid chasing the hype and make sound decisions. Not always right, but have been more often than not. Some readers may get frustrated that I do not make daily calls, but if I am not reasonably certain, I do not guess and will wait it out.