In the past three weeks, Lampert and his key investors sold more than $538M in AutoZone . We are still short on $AZO and its competitors.
The latest argument advanced by supporters of these stocks is that reduction of dealers by GM and Chrysler benefits these stocks. Such Gurus claim that the dealerships being cut are closing, leaving their customers in a lurch and such customers will go to these outfits.
Our checks show that such Gurus have been making these pronouncements without checking the facts. Every single car dealer being cut that we have spoken to is staying open and plans to focus on used cars, parts, and service.
These are short term opportunistic positions, be quick to take profits on dips using technicals.
