Sell Short: Sears Holding Corporation (SHLD)
From Shortex Market Letter
52wk H. 27.47 52wk L. 10.52
Mkt Cap: $1.5B, P/E: -0.81, Beta: 1.44
Sears (SHLD), the operator of Sears/Kmart, reported net loss of $2.03/shr. Same-store sales dropped 5.2%. Another Qtr of declining sales. Accepted $300M financing from CEO Edward Lampert. Reversal from the plunge (19.12-10.52). Continued through 50 & 200-DMA (11-18). Current plunge (18.18-13.72) with momentum to new lows.
SHORT RANGE: 13-15
COVER SHORT 7
STOP LOSS: 17
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, August 31, 2016