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Skullcandy, Inc. (SKUL) Message Board

  • onepoint272 onepoint272 Oct 31, 2013 9:44 AM Flag

    All the news is good news

    It was in a bottoming TR for 7 to 8 months and then broke out with a sign of strength; demand proved itself. There's simply no one willing to sell this out cheap.

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    • I got out at 6.35. With no real big news from the C.C. I expect this to fluctuate down to at below 6 again before Q4 results are released. We'll see how the activity and volume play out with this turn around. I'll make an entry again at some point as I do think they will have success in a turnaround. It'll take some time though.

      • 2 Replies to coffeenote20
      • There were some very respectable fundamentalists who posted here after the ER that they weren't too pleased with it. So I was 1/2 expecting a sell off but I figured it couldn't be too bad and that 5.85 would be a jumping off point. When I posted this thread this morning it hadn't taken off yet but I could see that it wasn't going to sell off. So, since I had to get going I just put in a sell order at 6.45. What a surprise when I saw later that it popped a Viagra and reached for 6.68. And as anyone can see it printed a 3rd shooting star candle.

        Now there's not much bullish about a shooting star and it will probably back up some more as you say coffenote, but it printed it on higher volume. The first was on 416k, then 530k, and today 655k. Shooting stars like to get retested and it's on higher volume so that increases the probability even more.

        Here's something else strange regarding the intraday action.. If you look at another post I made intraday you'll see I said $6.18 would be a good low risk long entry. That was at a 78.6% retracement of the day's action so I expect a lot of traders were eyeballing it. That's when it was trading at about 6.40. Well it made it down to 6.19 and then got bought with heavy volume and snapped right back up. I suspect the machines bought it before the human traders even had a chance to react. Then it didn't go very far and made another stab down to 6.21 and got gobbled up again.

        At the end of the day it was only up 1.3% but it didn't tank. And one of my primary rules is, when it doesn't do what you expect, expect the opposite.

      • I'm not selling at this low EV/ebitda=5

11.48+0.18(+1.59%)12:29 PMEDT