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hungry_hippo

COSTco Double Top

Short
Costco Wholesale (NASDAQ:COST)  
hungry_hippo Updated   
NASDAQ:COST   Costco Wholesale
Chart Patterns
2
0
chartpattern
Shorting the double top, $230 target but I might bail around $235 if I can flip the puts in the next couple of days.
Comment:
I wouldn't call this a garbage stock, but by all means it's overprice, PE ratio 31 and dividend payout of less than 1%.

You figure the employees would figure out the double top and dump this out of their 401k.... but they're probably not smart enough since they work at Costco.
Trade closed manually:
Bailed out this morning while I was still even... looks like they're gonna melt the market up.
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