Gannett Co., Inc. (GCI) Message Board
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Sell and Wait for Pullback
I'm bullish but today I think it will trend down due to massive buying yesterday. I sold this morning and will buy back later. I don't think the NYT earnings announcement will help us as they are projected to lose money.
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It's interesting. Gannett skyrockets ... McClatchy skyrockets ... Media General skyrockets ... but the New York Times beats the street and does nothing and even drops some.
- 1 Reply to ksugrad73
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Eight cents a share (what it earned excluding tax gains and charges) beats the four cent expected loss.
Is that the problem?
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i,ll buy and wait for your mother naked.thanks.
- 1 Reply to fpimentel86
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I was abit early with my call but it can't go up in a straight line...a significant pull back is coming.
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I'm out....and happy to take the profit. GCI is moving with the market and the stock should pull back before trending up again -- the money flow is over 100 way overbought. JMO good luck to all the longs. I'll buy back next week once more earnings are out.
- 3 Replies to mikestarfish
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"I'll buy back next week once more earnings are out."
Selling in the hope of buying back cheaper works--until it does not. -
You sound like a trading addict. You're going to miss the long-term gains here, by finding yourself out, when it suddenly makes a dramatic move, in the next few weeks/months.
I think you're being penny-wise and pound foolish. MAKE NO MISTAKE: the Street-beating profit, and statements of management in the conference call and press release represent a SEA CHANGE for this company, that the Street has ONLY begun to digest. Just keep repeating the mantra: $1.50 in EPS in 2009, and $2.50 in 2010....and you'll understand why selling this thing at 3x 2009 EPS and 2x 2010 EPS is INSANE.
I USED to have sell orders in at $4.95 or so (and that's after buying a lot more at $3.20-3.75)....but, after the earnings release, my lowest sell order is like at $6.95 now....and that's for a very small percentage (5%) of my total holdings.
This stock is going to EXPLODE, when the Street sees a turnaround in ad spending, over the next few-several months. I'm guessing $15-20 in a year, actually. -
You will regret it soon!
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Stock does look strong....looks like alot of short covering buying. Volume is quite high. GCI will move with the market; if the market ends up we might close above $4.60.
- 1 Reply to mikestarfish
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Looks like we will consolidate here for a bit. Chart looks like it wants to pull back as the RSI and money flow are closing in on 100. It really depends on the market and the shorts. If the S&P shoots past 950 the shorts will be forced to cover and may push the stock over $6. But with 85% of companies yet to report I think we will move with the market. But if you are a long term investor close your eyes for a year and come back to a $10 stock.
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When I woke up and heard about the CIT fiasco I knew the market would pull back so I sold. I still believe that the long trend is up as we are undervalued. I also know NYT is scheduled to report next week...they are not doing well like GCI and will lost $.
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Yes, it's down 5 cents at this moment on very high volume of 1.64 million shares, less than one hour into trading. But given the overnight strength and this small pull-back it doesn't look so bad. Not as bad as I thought the profit taking would be following Wednesday's run-up. This looks like strength to me. I am holding for a limit price north of $5 but would never fault profit taking. Of course, at 4 p.m. we may be sub-$4 and I'll look like a chump. I don't think so, though.
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