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Skechers U.S.A., Inc. Message Board

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  • jkwelli jkwelli Dec 27, 2010 9:54 AM Flag

    End of Year Selling Ends Soon

    I think TA is silly. That most of its value is derived from the fact that others believe in it.

    Since others believe in it, you have to be aware of what they might be doing.

    HBAN was under the death cross a few times this year and over the golden cross, yet those times did not result in strong downtrends or strong uptrends.

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    • the fact is that in the normal course of trading it is completely impossible to buy many shares without driving the stock price higher. when the stock gets drilled on analysts down grades, there have been major hedge buyers there to scoop up substantial shares. we did mark a low at 19 on oct 28 after earnings and we have not broken it. for anyone with a 6-12 months time horizon, i think the trading pattern looks like a great entry point. hedge fund buyers seem to agree. considering they are not able to sell shares in a low volume stock, they will obviously sit for a long duration as the company rights itself. me too.

 
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