Here’s A Potential Short For You
Zimmer
Holdings, is headquartered in the booming metropolis of Warsaw, IN
(my hometown). The news has been buzzing about the DOJ subpoenas that were
issued to a few of this Orthopedic companies a couple of weeks ago. Zimmer has
come back 15% from the lows off of that news announcement, and here we are today
on the heels of good earnings. Based solely on the technical situation, the
stock is sitting in a Fibonacci resistance zone from 83 to 86, and the rally
from the April 1 low is now 11 points, which is symmetrical with the previous
rally in this stock at 12 points.
 
I’m not a buyer of this one at
these levels. Rather, I’d be looking at swing short opportunities with a stop
above the 86 price level.Â
Until next time!Â
Derrik