ie....Maverick Capital owns Coach shares. This $10 billion hedge fund is run by Lee S. Ainslie III, a prot�g� of Julian Robertson at the legendary Tiger Management fund. Also Stacey Widlitz from Pali Research is bullish on Coach and reiterated a buy rating with a $60 price target. More upgrades are coming at this price its a bargain.
The charts don't lie, there is very little buying going on and more selling-where you do you see a ponderance of buying-Coach's buyback program goes until 2009-wonder if they would like to buyback at lower prices?
lol - no things haven't changed. I should have sold on Wednesday when I was up 11%. Fortunately, it looks like selling is drying up on this 3rd down day in a row. Volume is down quite a bit. I imagine the buyers are picking up bits and pieces on the down swing, waiting for it to fizzle, which, as I said, looks like it is doing today.
No buyers/no sellers on downtrend = end of downtrend - IMO
Dennis Gartman of "The Gartman Letter" (www.thegartmanletter.com) is shorting this. Who in their right mind wants to pay ridiculous prices for accessories that can be had for anywhere from 80-90% off similar items from other retailers. Housing is in a tailspin and home equity loans can no longer finance this kind of "irrational exuberance"-I see $20.00/shr in the not too distant future.