NOC NOC. Who’s There?

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In spite of lifetime highs on the Dow Industrials and the S&P 500, some short positions are having quite good days. One in particular is defense giant Northrop Grumman which, as the chart shows below, is getting whacked. This stock has been carving out a series of lower highs for months now.

Looking at the longer term chart, you can see this stock is still at nosebleed levels, just like the rest of the market. However, UNLIKE the rest of the market, it is actually able to make headway to the downside.

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