Over-Hyped Plays Get Their Due

Good morning. Two days remain of the trading week and premarket futures indicate a soft open. Jobless claims rose 10K to 343K vs. expectations of a 4K rise to 335K. However, oil continues to move lower on better news from Iraq and reduced supply concerns.
Most expect a critical test at $40 to $41 per barrel if current trading trends remain intact.

Short sellers have to be excited about the negative headlines streaming from two notable favorites this morning - Krispy Kreme (KKD) and Career Education (CECO). As many of you know, both stocks were some of Wall Street's favorite over-hyped plays in the past few years until recently. The shorts who were patient are going to go to the bank today. Those who've been reading this website for some time now know that I've consistently made negative comments about both of these stocks. As always, you can utilize the search engine at my archive to view any posts I've made about these or any other stock of interest to you.

My goal today is to lie low, run a few screens, catch up on email, and probably head out the door at little earlier than usual unless I can find a compelling trade or two, which doesn't look all that promising given my premarket scans.