Description

Emulex is another technology high flier and will surge today due to the
excitement over earnings. While good, it is my opinion that they do not
justify a stock price at the current level. Looking at the chart, the
optimum shorting level is just below 112, which is the high set about
a year ago, as this is when "long term" investors bail out at get even.
This is a short reccomendation her based on both the valuation and the
technical chart pattern since it appears that a double top is forming.

Catalyst

Double top chart pattern could easily take this one down up to 40% short term as well as the high valuation