Tuesday, March 24, 2009

Bookkeeping: Selling Short Whole Foods Market (WFMI)

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Thanks to reader Jason for the tip on Whole Foods Market (WFMI) which had fallen off my radar. The stock has rallied back to its 200 day moving average so I am beginning a short (2.4% allocation) in the $16.30s - the 200 day moving average is $16.50 so we have a nice tight escape hatch above.

WFMI was one of the names we tagged a long time ago as a victim of the return to realistic consumption in America.

[Nov 8, 2008: WSJ - At the Supermarket Checkout, Frugality Trumps Brand Loyalty]
[May 29, 2008: To Laugh or Cry? Spam is Hot]
[May 14, 2008: Whole Foods Market CEO at Loss to Why Sales are Slowing]

Short Whole Foods Market in fund and personal account


4 comments:

Risk Manager Jeff said...

Viral shorting?

I hopped on with you on this name. thanks to Jason and now to you for mentioning this name which also has fallen off my watchlist.

TraderMark said...

So many names to follow I can't keep track. They really need to get this cloning for humans down so I can get a 2nd Mark just to read things, and a 3rd Mark just to look at stocks and chart them and let me know when something is getting interesting from a price point.

I miss a lot of things without the cloning

Anonymous said...

Yes indeed, lets start cloning WFMI shares. Lets drive down the price with duplicates we create without telling the owner or buyer of our new blips. Maybe we can drive WFMI down, cause job loss, give the CEO a heart attack - who's gonna make them fake rumours?

I never met a short with a conscience but in case you do or in case you recognize how destruction of public companies and public trust can affect your public life (if you have one), you can help end this despicable practice at:

http://www.petitiononline.com/shortNOT/petition.html

Erik said...

pull the trigger

http://erikmarketview.blogspot.com/2009/05/hedge-trade-of-week-may-26-29.html

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