Sorry. One further comment to make.
It might be wise for the non-fund manager just to stay out of the market on days like today and tomorrow, tripple witching days and the like. Let the market settle down for a couple of days to find out where it is and then start looking to buy or sell.
Panic makes people lose money. Plan ahead and either buy/sell two or three days before or after those days.
Why are we down?
Institutions that need to show a certain percentage growth, are selling those stocks that are up for them to take their gains and are trying to manipulate the prices of the ones they are down on before the end of their fiscal year - October 31.
Face it. Institutions and mutual fund/hedge fund managers rule the market because they can buy or sell thousands upon thousands of shares in a single morning much less over the two days we have left to the end of their fiscal year.
in April this year after it just "only met expected earnings" it dropped because of the large run up before. What happened the year before in 2008 under normal pre-recession stock market when it "only met expected earnings" =)
Damn glad I sold out at 44.50 - been moving to cash over the last month and about 60% now. Waiting for the leg down to re enter. Mid $30's at least over the next month. Was near $32 in July - don't think it will fall that far, but $36.75 is possile to retest the August lows on a spike in volume. If that does't hold low 30's is next resistance. Market bias is lower and future guidance disappoints - expect it to push strong volume on Wednesday and drift lower the next 4 - 6 weeks before it settles out.
Hey, it's not like costs are rising and expenses at bwld will come under some pressure. Look at the price of oil, it's been falling for months now, as well as the price of food, which follows oil, and shouldn't the price of chicken wings also crater like the price of gold? and we have had fantastic job growth from our new leader's trillion plus stimulus, so I could see everyone coming from home from a decent paying job tomorrow running to a BWLD place to get huge orders of wings to watch the World Series with. yeah, given all the obvious facts stated above, I'd be buying this take out, eat in stock as well as all the rest of the consumer driven eateries with hands over fists as the future never looked brighter!
I'm not entirely convinced BWLD will go down tomorrow. Looking at the price action over the last 3 months, this hasn't been priced like a stock that was expected to blow past expectations. And perception of the performance this quarter is highly subjective depending on which headline you read. Every "Revenues Miss" there's another headline that says "Buffalo Wild Wings 3Q earnings rise 50 pct on strong sales growth for the restaurant operator" We're at the same stock price as in April and September. The A/H trading is low volume knee-jerk reaction.