"After a great run for the US stock market in Q1, it’s time to not only take down some bullish US Equity exposure, but cut some losses on some losers," writes Hedgeye CEO Keith McCullough. "Whole Foods might be interesting from a lower-price but my intermediate-term TREND signal says sell it here."
Click here to read our analyst's original report on Whole Foods. Below is a brief update from our Consumer Staples team on the current setup for the company. Whole Foods remains one of Sector Head Howard Penney's top ideas:
"As seen in the graphic below, the sell side is still significantly bearish on WFM, despite the positive organizational changes underway. It is also important to note that short interest has noticeably climbed, making this a great opportunity to be long WFM, ahead of the short selling that will occur when the organizational modifications begin to take effect."
