will be lower since we have a long weekend coming up, it may not be enough to hold COH at the current price. but then again, I could be wrong, should i cover my short position?
yes I did cover yesterday at 42 and then went long and sold at 44 today. And I'm happy with the trade, I'm going to sit on the side lines until things give a clear direction.
I don't think the Fed's action today will help the market or earnings much in the future, it will only help certain people from losing their house and going out in the street during this coming winter.
I'll be looking at the unemployment figures next week and then calculate if the Fed's would consider a decrease in interest rates. Obviously there will be an increase in unemployment, that goes without saying, but it all depends how much unemployment increased.
Honestly, I wouldn't short COH in the low $40s. Through the years they will typically drop 20% in a short amount of time to recover pretty quickly....as they recently have (dropped that is).
I like covered calls on COH. It's collecting rent on my cash without a lot of worry. If it gets taken out, then OK. At this level, I would cover though if I were you.
I'd also be careful on the next go around to the high 40s...it tends to pop near the holiday's, so that isn't an invitation to short either.
Short a store where high gas prices are going to affect sales.
I'd cover. The September 5 trade conference is coming. Management doesn't go to a dog and pony show to guide down. The August SSS will come out shortly. The back to school buying was delayed this year which pushed the sales later mostly in August and September. SSS could come in very good for those months and push all of retail higher. I expect it to do so.