I closed my short position in Advance this morning, showing a decent return. The earnings announcement was not as dire as I thought it might be, so after some initial trepidation by investors, Advance is showing a fairly strong rally this morning.
As I said in my earlier analysis, Advance isn't a bad company. Overall, they have strong management and have shown consistent growth. This would be an excellent opportunity to add to or pick up long positions, as we should see gains of another couple of dollars over the next week or so.
$40.55 (05/17/07)
