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Lean Times for Life Time Fitness

By Jonathan Moreland

 About this article:
 I'm still net long this rally, but not all long. Insiders are keeping me cautious with their continued bearish signals, and I have acted on the caution with a high cash level and a couple short positions. One of my shorts is Life Time Fitness . I researched betting against this firm's shares back in June after the chronic insider selling at the company placed it on my screen of stocks to research further for a downside bet. But the already-low valuation of LTM last summer didn't leave enough downside potential to justify a bearish move. Good thing I passed. Despite insider apathy, the stock participated well in the summer portion of the market's fabulous rebound since March, rising nearly 70% in just over two months. The quick rise in LTM has only mitigated the valuation argument against shorting it, however. The stock also looks at risk to...

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