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Time To Short Herbalife (HLF)?

|Includes: Herbalife Ltd. (HLF)

I have long been interested in shorting Herbalife (NYSE:HLF) for fundamental reasons. But I don't like to trade fundamentals, and so I was quite pleased to see the chart of HLF scream short this week. The stock spiked over 10% yesterday before selling off in the afternoon. The selling has continued early today. We'll see how the rest of the week plays out, but right now it looks like a giant "bearish wick" (both daily (yesterday) and weekly) at the 200 day moving average and downward resistance trendline. Seems like a good spot to short.

Disclosure: The author is short HLF.