your little pissant short TRADES are squat compared to the gain I have had with two splits and 5+ years - and I am adding and going AGAINST the wrong headed PERCEPTIONS that COH is dead.
When all the lemmings are going one way, I go the other.
Like Buffet says, when others are fearful I get greedy and buy
Keep adding on this news Ball4.. you can continue to cost average down.
This stock is dead money for the next year. $30 possibly, just enough to tantalize, but not actually create any real return.
What a fun quarter - and finally, here we are. After weeks and weeks by the longs of 'Watch out on the 29th', there's no where else to hide. Guess shorts have heard it all the past few months and taken all sorts of unwarranted abuse.
Last quarter, the stock opened up at $32.05 after the last earnings release. Today it's $26.49, a 17% decline.
But shorts are (and I quote) "Playing with Fire" by holding the position into earnings. Playing with fire was not selling at $38. Getting burnt to an unrecognizable crisp is sitting on this all the way down to today, and doing nothing. But tomorrow, us shorts will learn... NEVER doubt Lew Frankfort, the only man immune to the swirling world around him. Please....
You know, I read all of these posts by the regular longs, and it truly is pathetic. Overlooking all the 'pawn, chode, lemming, slut, idiot' comments thrown shorts' way, clearly most simply have no business investing in individual stocks, and have never broken down a financial statement. When as deep as they go is to look at the PEG ratio on Yahoo, then suddenly scream about how undervalued it is. I mean, you've got one person who thinks a 9% decline in margins would be fine, because "63% is still great!". If you don't think a 9% decline in margins wouldn't cut the stock price in half, you're kidding yourself. Another person I've sparred with can't calculate a simple multi-year return percentage. It's actually quite unbelievable, and again, very very sad.
All they know are that Coach makes popular bags that their wives and GF's like, see that the outlets are full, is growing revenue, and have some man-purses coming out they are going to be all over next season and they use that as a reason to buy stock. Then they watch their stock go down, then try to find anyone and everyone to blame, that some all-controlling power has mispriced their stock, when it was simply a rational market all along.
I hope this pops tomorrow to $30, so every long in hiding comes out of the woodwork crowing to the shorts to shove it, that Lew overdelivered and to suck on this short squeeze, when in reality it'd still be trading down for the 3 months, year-to-date, 1 year, 2 years and 3 years, and there's just hoping to get their heads back above water.
You all could have learned something this quarter from the shorts, but instead most of you decided to be completely combative and completely unwilling to entertain any other perspective but your own.
There's some good people out there who lost money this quarter on this stock, and that's unfortunate. But there's also a few real jerks on this board who I am just ecstatic who have watched their portfolio values erode.
More than the fact I was able to make some profits on both the short and long sides, I've actually gotten much more personal satisfaction out of knowing that these jerks have lost wealth this entire year, could have cashed out at $50, and now are just praying they can get back to breakeven.
The best investors in the world are value buy and hold investors. Just look at the Fortune Top 10.
What happens in the short term is meaningless... much like you pathetic, bored, and tired life. Your theories on day trading are nonsensical. Purely and utterly.
People, such as yourself, bragging about how much they made shorting stocks will ultimately, over time, be proven pawns.
That's just how it is.
Shut the f up.
If I wrote that I would get abused for days. It will be interesting to see the response you get. I don't think this thing has a chance in hell at $30 tomorrow, but stranger things have happened. Lew is probably up right now wondering how in the hell he is going to spin the "everything is great with COH even though everyone else is reeling..." speech. Hell...he might even pull it off. It ought to be interesting. I wondering if an analyst will ask him how much of the new buyback has been completed. I am guessing all of it. People on this board think the "smart money" were buying stock this quarter. Yeah right!!! Those buys were COH supporting the stock.
Ball4, I looked at some of your prior posts.
You've been holding since 2004 at a cost basis of at least $26, and raising that cost basis by adding along the way.
Were you just lying then about when and what price you were in, or lying now about the gains you claim to have?
It's hard to watch 4 years of your life pumping a position amount to nothing, right?