Greetings from flyover country, as I make my way to the Mississippi River. It’s a quiet day in the market, with the ES struggling between a little red and a little green, and not one of my 80 shorts has been stopped out. I’m grateful for a quiet day, because it would be an nightmare in this tiny seat on slow WiFi otherwise.
I’m about to thumb through all 80 positions to update my stops, but one company in particular that caught my eye was one of those 80, United Parcel Services (UPS):
I briefly wondered where the weakness was coming from, but this article cleared it right up. Seems as those Amazon is tired of letting UPS make huge profits with all those packages and it would prefer to keep the money for itself. The longer term view suggests plenty more downside, given that the main supporting trendline is shattered.