Going Short Ulta
Ulta Salon Cosmetics & Fragrance (ULTA) has the look of a long side trade that has died. I'm out. The stock was unable to take out $103 on the close, and is now pushing lower into the post-earnings gap. In fact, this one seems set to head back to a gap fill, so I am buying some January $90 puts for $1.30.Ulta Salon Cosmetics & Fragrance (ULTA) -- Daily Source: StockCharts.com View Chart » View in New Window »
The weekly chart doesn't look any better this than the daily; here, a dip to $85 actually looks possible, as does a bearish divergence in the relative strength index....264 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.