OK, that title is too obvious for my normal lofty Dad-joke standards, but it’ll do. You can probably guess that I’m about to suggest 3M as a short (MMM). For nearly seven years, it has steadfastly remained below this long-term resistance trendline, and we’re close enough to it to make for an alluring risk/reward ratio.
I figured that this maker of Post-It notes and Scotch tape would have a P/E of, I dunno, 12 or something, but, nope, it’s freakin’ 75. You guessed it: I’m long puts.
