Second Chance From AutoZone
Tim Knight | Apr 11, 2013 12:53AM ET
Another day, another historic record in equities.
Perhaps you’d think I’d give up shorting. Not a chance! I’m delighted to be selling into this kind of strength. I offer for your consideration Exhibit A: AutoZone (AZO). I shorted it Monday and bought puts. I covered it Tuesday and sold those puts, both at a profit. With yesterday’s strength, I am repeating Monday’s action, with the intend of holding it longer than just a day.
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