BKE is relatively cheap here still but this has been a sizable move. With higher costs associated with their new dsitribution centre and moves into higher rent locations I am going to step to the side until after the numbers. I do not see big upside to Jan qtr numbers and they do not give guidance.
Forgot to mention that we should also have a dividend announcement next week, so there is also a little bit of a price cushion built in right now. When you deduct what dividends will likely be for the rest of the year this is probably only only selling a little over 30. If this does go to price targets of 40$-43$ and we see dividends similar to last year (2.60$) the current price is actually pretty cheap.
Hey, at least you covered your short position before you got burned. There are plenty of naysayers and people selling because of risk analysis right now, so this may run up some more if numbers look good. As I've said before, I'm more worried about selling and letting the shares get away. A while from now you may not be able to buy back under 35.
Sold out my trading position yesterday at $34. Backed up the truck on BKE under $29. Taking my ST gain but keeping my long term buy and hold shares. BKE is a quality company-long term hold and I plan on hold my core position forever but I fear for ST trading purposes, the stock may have come up a little too far/too fast.