It's actually pretty boring now without Freddy -- like Vince Offer's can of tuna.
This forum is now just one big roundtable of coniving bears. I'm not sure I enjoy that very much. I kinda miss sparring with Freddy over his outlanding theories about the new bull market in retail.
Fred, let's leave the whole BBBY issue behind us (sans sarcasm here) and just chat about stocks. Sell this wacky stock though (that needs to be step one to clear your mind up). Carlyn and I will stear you towards decent setups. What do you say? I'll provide you the stop losses, entry points, risk-reward, etc.
-You sell, BBBY goes up. You do some trades with Phil and lose some money. This is worst case but you gain invaluable trading experience. I think odds of this are low and seriously you will NOT lose 50% for example with Phil as you might with this stock. -You sell, BBBY goes up. You do some trades with Phil and make some money. not so bad, and you gain experience -you sell, BBBY goes down. You do trades with Phil and lose money. You get experience and can reenter long at a good price, this is a really good scenario -you sell, BBBY goes down. You do trades with Phil and make money. You get experience, make money and have the option of reentering at a better price. Massive win for you and I feel most likely scenario.
The best investment is not with BBBY but with yourself and investment/trading knowledge. Lastly I would like to learn too so I am selfishly hoping you do this ;-)
Gestumble, the reason I'm advocating a BBBY sale is not that I want him to lose money. Precisely the opposite. The idea is for him to learn to put some risk controls in place. Capital preservation is the key here. When I started out in this game, I made many mistakes concerning hope. Often times, the 10% loss you don't wanna take becomes a 40-50-70% hole in your pocket. In trading, the #1 rule is to live to fight another day -- never get emotionally attached to one single position.
Despite my convictions and the happy outcome thus far, I'll be the first to admit that if BBBY had gone the other way and cleared 26.60, I would've liquidated the position.
Remember, you can always get back in the trade. If you lose all your money in one trade, though, it's tougher to claw your way back.