Other than the overall market, one of the most ridiculously overbought stocks is Wal-Mart (WMT), setting up for a fall similar to what we saw with KB Home and Lennar over the last week.
MACD is topping out and reversing. RSI is in the process of pulling back from nosebleed territory. And money has been flowing out of the name for days now. Only problem is WMT has yet to reflect the bearish attitude of money flow.
Consider buying to open the WMT March 2015 82.50 put up to $3.
Happy holidays to you and your family… Best wishes.
Ian L. Cooper
Inside Value Trader