Trade Alert: $COST SHORT SELL at 104

Costco had a magnificent gap up yesterday which probably was a result of a short squeeze as the stock has been downtrending for the past few months. I also think someone got an inside peak at the 8K that was announced this morning for the dividend.

In any event, 104 is a good spot for a short as it is a retrace of the intraday high from September. It also comes with a tight stop out level which would be ANY close above 104.40. Short selling is very tough but  comes with a big reward.

Take a look at that volume spike yesterday at 10.41 million shares. This looks like a nice blow off top short squeeze so I really like the setup if it can trade into my price.