9 Father's Day Trades
OptionsZone Experts, June 19, 2009
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Father's Day Trade #2: AutoZone (AZO)
By Chris Johnson and Jon Lewis
One of the darlings of the recession has been AutoZone (AZO), the purveyor of do-it-yourself products for the driveway mechanic (usually dad). With discretionary dollars tight, many people have opted to work on their cars themselves rather than buy another car (new or used) or let a repair shop do the job.
After a strong surge that caused the shares to double in about four months, the stock has pulled back for the past couple of months. But now the equity is sitting right on major technical support. Look for a bounce in the stock, especially now that the weather is perfect for dad to spend a weekend afternoon under the hood.
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