Pot Holes Ahead?
Media headlines seem to be dominated by the sexy stock stories, but today let us focus on a dull, boring name. By the way, never short a dull market as the S&P 500 has gained .33% or less the last 4 trading days (and we are headed into a holiday-shortened week which tends to be bullish, and seasonality is on the side of the bulls as well). Looking at the chart of GT below is probably akin to watching grass grow for Millenials. But earlier this year on 2/22 when the company announced it was buying Cooper (CTB) the stock rejoiced screaming more than 21% higher. Since the purchase was completed on 6/7 however the hangover began to set in. It now trades 17% off its peak made earlier this month, and is having a hard time getting revved up after the 2 week combined decline of 19% the weeks ending between 6/11/18, pun intended.