Qantas Short – Lock in Profit

Qantas (QAN.ASX) short was flagged on the blog post dated 25/08/2016, when QAN was trading at $3.58. The stock is now trading $3.11. Time to cover the shorts, buy back and lock in the profit.

Interesting and worth noting, Qantas has traded lower in the face of a company share buy-back program being announced, record profit, increased dividend and oil prices trading lower. On reflection of these matters, (that should have normally helped the Qantas share price), one could draw the view, that this could be a short worth revisiting on the next bounce or rally higher.

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