AZO has some serious momentum behind it. It continues to rally, despite this weak overall market. I am not sure why i decided to take on one of the strongest stocks in one of the strongest sectors, when I continue to have success shorting the dogs like regional banks, commercial real state, and retail. I need to seriously rethink this position over the weekend and decide if I should hold this one through earnings next week.
I can't help but think of the saying "the bigger they come, the harder they fall", I'm just not sure if AZO is ready to tumble.
On another note, I also purchased March 29 QQQQ puts yesterday at 1.41. I added to the position today at 1.62. It's currently worth 1.65. (I did this because yesterday the calls on the QQQQ didn't work, so i reversed my position due the obvious weakness). However, again, for some reason I decided to take on the strongest index. I would have fared much better buying puts in the IWM or the SPY. Regardless, I am still in the position and will continue to monitor it throughout the day.
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