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Tuesday Morning Corporation Message Board

  • longtimefollower longtimefollower Oct 2, 2013 1:08 PM Flag

    Taking some off today.

    That 3 million share up day, several days back, suggests to me that the realm of the "true believers" is deeper than I could have ever imagined. They may not even be spooked by a poor sales report or earnings release, since it is all about "the vaunted future," under their pied piper, Mr. Rouleau.

    I'm going to keep a short position through the coming earnings release, and may increase the position a day or two before the release....but for now, I want to take some risk off the take. Because these numskulls out there, I hate to say it, may take this thing up even higher, is the way the technical action looks. Which adds short term risk.

    Live to reshort another day. For now, it looks like there's a lot of buyers at $15. And limiting my losses to $2.50 or so a share, rather than having things get out of hand, seems prudent. (I took off 20% of my risk today...and might take somewhat more off, still.)

    Sentiment: Strong Sell

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    • You've been whipsawed like crazy on this stock.

    • I can certainly understand what you are going through. And I must admit this is like trying to catch a knive going up. My original short, before the lq earnings, when pps was at $10 and when it shot up the nest day to $11 plus I took my beating quickly. And then I waited and watched nothing, absolutely nothing has changed except the pps, at $14 I couldn't resist and went back in but this time with March '14 puts, $15 strije, and when I saw $17.50 went back in again on the March puts.
      I must admit, I do not know the people in charge of TUES, but I just can't imagine that they are so smart and know so much about retailing to do it. It will take a tidal wave, nothing less than a deux machina has to happen for this company to survive, let alone, be profitable.

 
TUES
19.30-0.69(-3.45%)11:50 AMEDT

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