hi creative, I guess there are many ways to look at stocks; some find the technicals very important and some others like myself don't consider them that much especially around earnings. I agree wtih richrusso today's action was very good.
The earnings are still 2 weeks ago for the stock settle here a day or so before breaking out past 60.
I actually don't mind this type of action as it will shake out the traders. It becomes a much stronger stock going into earnings this way; I still believe we will get to about 70 before earnings; if not, then we will pop over it after earnings.
Sentiment: Strong Buy
No way-only way it gets to 70 is after smashing earnings and forecasts.Alot of stocks have runs then pullbacks pre earnings then go if earnings are great.I sold all at 59.25 and believe me alot of volume were momentum traders.I will buy ome calls pre earnings where my downside is limited.Guys dont read to much into a failed breakout before earnings (2 weeks) away.I think the stock will be at plus 60 AFTER earnings .My guess is pullback to 55-57 pre earnings then 60-63 after if results and forecasts are good.
rim trader -are you looking at the volume its much higher as well ..
if you thinking about stock adjusting a bit voulme has to be normal 3 miilion
not 5 million .. the 3 million represents your traders not insitituitions
5 million represents intitutions bailing out for now..
i did not like the action today -- buts its my 2 cents only
OK we went down 33 cents or a little more than 1/2 of 1%. We are up almost 15% ytd!
We can't go up every day...
Sometimes these small down days are healthy for stocks making big moves, let KORS take a breather.
Sentiment: Strong Buy
rich their is bit of flaw in your thinking ..a stock that goes to new high
usually stay up with enormous volume -- you had bearish reversal today
according to the charts -- yes their could be brether but not at new high level
usually their is a trigger to buy more in this case institutions started selling after reached new high
i took my gain today from 48.50 to 57.50 after todays reversal -- i am bit of sick of roller coster ride here -- i will revisit the stock after EPS..