The three month chart looks grim. It looks like it's bleeding to death. The volume hasn't been too bad but the chart is busted. It crashed thru the 50 dma in late May and needs to repair itself. It look like support is between here and $45. I took a stab and wen short June-47 puts, looking at a forward 12 p/e; knowing it could become a 20+ p/e if sales dry up. I can think of few other companies whose sales can be more fickle. Make no mistake, this is a weather play. If we get some bad storms, this will turn on a dime and rocket ahead. Dealers don't want to carry the inventory but will beg for units with a good hurricane.
whew. glad i closed GNRC position at 55.55 PPS. today's close at 46.72 means I would have lost 15.9% had i held. that on top of an up market means losses would have been compounded due to opportunity cost. couple that with a Zero dividend stock seals the deal.
no special dividend on the horizon this year either.
my sentiment = Dump it.
Sentiment: Strong Sell
YTD intraday low was made today. We bounced off the low to miss making a new YTD closing low. Up on the day in the last hour or so on impressive volume bodes well for GNRC. We need follow through buying on strong volume to confirm a reversal. G.L.