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GameStop Corp. Message Board

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  • unseennc unseennc Jul 1, 2008 10:10 PM Flag

    Another joyfull day comming from the Market.

    From your chart all those bottoms had some event that triggered the bottom. we haven't got that event yet. today's action was on GM short covering rally. GM went up 15% then closed at 25 positive. On better than expected negative sales. Not good when you best news item is your company doesn't suck as much as you thought it did.

    No we haven't had the spike in VIx yet, we haven't had any event, and no major fear in the market. We just entered bear market territory. I don't see the market getting out of it within three days. I see a small sharp relief rally that will wilt in the face of continued bad news. I would sell the rally not buy into it. GME might do ok in the rally it tends to trade with a higher beta so you might get a 5%-10% bounce back before it test $35.00 again.

 
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32.36-0.440(-1.34%)May 2 4:00 PMEDT