New High Short Squeeze ($WFMI)

WFMI090804I posted a tweet about Whole Foods awhile ago, suggesting it was a strong candidate for technical reasons with a solid brand name to boot. @NoDoji agreed, and today that cat tweeted a call to load up on WFMI before earnings.

Much of WFMI stock has been sold short, so Tuesday’s earnings report may precipitate a covering frenzy. Looking at the after hours market, WFMI has risen $3.40, up over 13%. CHA-CHING!

Technically Whole Foods remains strong, breaking out on July 20th and trading in an uptrend above a rising upper Bollinger. The price target is 32.04, but I treat this number as a guide, and not a profit taking marker.