Til The Wheels Come Off
Many of you know of my fondness for being short auto retailers. This really paid off last month when such firms as O’Reilly Auto Parts...
(Click on image to enlarge)
…and AutoZone…
(Click on image to enlarge)
…fell to pieces. I think they have much, much farther to go. I’m hanging on to all my shorts.
But the real victory today is Advance Auto Parts, which as this article points out, had crummy earnings and guidance. It’s down almost 30%.
(Click on image to enlarge)
Disclosure: None.