Why the selloff before the cc? I don't get it. eps was better than expected. Anyone know?
Valueline had a recommendation out on AAP. I'm stick with it. AZO is a good store though.
What about the SG&A? Why would it go up if the sales are going up?
jfree, sounds like you read Parness' book. On AAP I'm in for the longer haul.
I read ValueLine primarily. I love AAP long-term also, but I take profits when they are there. That's the biggest change I've made to my trading activity since the downturn last fall.
It may do that today. In the end, the market always follows earnings. That was in Peter Lynch's "Beating the Street" book many years ago. That was the one theme that ran through his book.
AAP down = Welcome to the world of Wall Street where good news is bad and bad news is good. Earnings is arisk..."sell the news." AAP would have POPPED had they blew the doors off the streets expectations, like Amazon and Priceline did recently.
Exactly. Sell the news. I have been long AAP for a while, sold Wednesday, bought back in lower today. I liked earnings, but personally I was looking for same store sales increases around 5.5% rather than the 4.9% reported.
no ideaI am as puzzled as you...down almost 6-7 percent
I don't either. Every stock I own is down. I don't have much in AAP, but the intermediate to L/T value of it is good. I'm in for L/T. If it goes lower, I'll pick up some extra.