On the Short List: AMGN

Keep an eye on Amgen, Inc. [[AMGN]] shares.

This looks like a candidate for some short selling tomorrow. Check out the long tail up on the PnF chart.

AMGN got a boost last quarter of 9 cents to EPS, benefitting from forex. Should the dollar continue its strength, expect the second half for AMGN to be, let’s say, less than ideal. 

I’d look to sell it on a breakdown below 62.

In this environment, it might be worth it to hedge your short with a call option.

Disclaimer: Selling stocks short is very, very risky. Adults only.