I have been trading SPLS for years. Out of about 150 short term trades, at least 140 have been even or profitable for me so you can say I love playing this stock. I wanted to short this so bad on Monday but forgot to do so and missed out. I short and buy, just depends on the day for this one. I would appreciate any educated traders opinion on short term movement, just to Friday, because I decided to short only 500 shares right now thinking it could drop again tomorrow. DO yall see a rebound or more falling? I cant see this going above 1245 anytime soon while I could see it hitting 10-1015 so the risk/reward seems greater on a short for a longer term trade than I normally trade for.
Numbers speak, staples remind me of kmart when they first filed for chapter 11, I bought that crap and, every dip I was buying. Guess what it never went up once. Spls reminds me of kmart trading pattern slow poisioning downhill. Actually since we started posting on board I did some more research. My price tag is not above $5. Stop looking at the glass half full read the filings, man its down on both earnings plus revenue. I cant see them making up that ground for couple years. Giving they change their business plan. Again PRICE TAG is FIVE BUCKS. I ll buy at that price and go long only if company making any progress towards better business plan. I am hoping to see more analysts downgrading it. Who cares for paid analysts I already downgraded in my books. IMO
I havnt traded this stock ever eccept I bought some today. I went down after their earnings to 10.99 and then up to 11.50. I would suggest the people owning this stock that stayed in will probably stay in. if it gets below the 11 dollar spot then there would be more selling. Today it lost some on more than usual volume but didnt lose that much, 9 cents, you would think if people were going to sell they would. I dont expect a Quick rebound, possably but doubtfull. Personally I would think it would trade in a fairly tight range for a while until some sort of news brings it up or down. Don