I have also been in contact with Pepe offline, and can back up bspackm's note that he was as surprised by Poser's about face as anyone. Pepe is very long the stock and I believe he is hanging tight with the longer term positive thesis for the company. Disclosure for me: Was long huge amount for me. Capitulated almost fully yesterday; long a small amount and am short some puts, mostly April $17.50. Prepared to reload if we are gifted a lower price, but since I'm starting to get bearish on the market as a whole, I'm mostly in cash for now.
I'm in agreement with you Port. I'll be prepared to load the truck if things turn around. I'm certainly not going to try to find the bottom. It may be here already, but who knows. If this puppy is as good as many seem to think, then there will be time to jump on board. If not, so be it. I worry that the fundamentals are changing and nobody sees it coming. At least thats what the chart is telling me. Someone knows something to continue shorting so heavily at these levels. The next report of short interest will be interesting.
I also want to here from Pepe, yet still believe he is legit. He genuinely believes in SKX and has also experienced short term losses. While Pepe's short term views maybe off, I think its his long term macro views that really underpin his confidence in SKX.
In the long term, a year or so, odds are Pepe and other longs will be vindicated. If wrong, I doubt we have too much downside from these levels. We will see!