Buy all you can at these levels - it is really an amazing bargain.
The stock market gets it way wrong on occasion, and this is one of those times.
The dotcoms at billion-$$ market caps, with no business to speak of, and huge negative cash flow? That was a huge shorting op, and there were many others. Like the grossly-overvalued mortgage companies that suddenly went POP in early 2007. And the ludicrously overpriced homebuilders that were obviously in a bubble market in 2005-06.
Now we have the opposite - a really fine company that has solid, seasoned management, a steady business with a good future, selling at half of book, with no debt!
Remember, most of the 'book value' here is inventory, and they typically have a GM well north of 40% so they should have no trouble converting that to $$ at a significant markup - they've been doing that steadily for years, even in a terrible economy at times.
People selling this at anything under $5 are just nuts, IMO. It could easily be a quad from here within a couple of years, with basically ZERO risk of BK at any time.
Las Vegas, huh?! I was just thinking of running up there to shop TUES w/my daughter. i hope there is one or more there. i have one down here and i love it.
but the 'island reversal' is still valid, though not a single session reversal. maybe it will b stronger; haven't checked the charts yet. but i bet there was a market-wide distribution day; haven't checked that yet, either.