Short $MYEThesis: With growth and inflation decelerating (Quad4) and our leading indicators slowing as well that means we want to be short Industrials. Within the Industrials sector the Rubber & Plastics industry was reporting contraction via ISM data. After screening for P/E and style factors like High Beta coupled with a strong long term price trend we added $MYE to our watchlist. $MYE (Myers Industries, Inc.) manufactures a diverse range of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. Myers Industries is a leader in the manufacturing of plastic reusable material handling containers and pallets, and plastic fuel tanks. Other principal product lines include plastic storage and organization containers, rubber tire repair products and custom plastic and rubber products. $MYE is also the largest distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the United States. The distribution products range from tire balancers and alignment systems to valve caps, tire repair tools and other consumable service supplies.
