I'm not playing RSH for the long term. It's got a 36% of float short interest...so any type of bottoming action (it certainly SEEMS oversold) could bring in a massive short covering rally.
yes, the Q1 results were terrible, but it's also selling at 1.25x the 2010 ebitda, and 2.25x the 2011 ebitda. That's CHEAP...if they can turn it around, or even, in the short term, if they can't.
I think RSH is so cheap, it is subject to a buyout...or an activist seeking to throw out the board and management. (Mamagement is acting very stupidly by paying a 10% divvy, when they should eliminate it and buyback stock instead.