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ShopKo Stores, Inc. (SKO) Message Board

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  • snugly60031 snugly60031 Feb 22, 2001 9:08 PM Flag

    Sold

    As I stated 2/20 I sold most of my position (85%). I gave my reasons in my 2/20 post. One more thing I failed to mention was that it hit $11 on 1/31, pulled back, then ran to $11 again without penetrating, then again pulled back. That was a double top. I had done most of my selling on 1/31, and did the rest on 2/20 in the morning when it went back above $10. This stock has been very good to me so far, this time and twice last year, but then I'm usually not a real long term stock holder. I've been impressed with SKO's ability to keep from continuing the slide this time after coming back from the $8's yesterday. IMO the market is going to take another dive tomorrow, and SKO will probably be sucked down in the draft. I plan to start edging back in if we see mid $7's. I still own 1100 shares, and I am now losing $3 on those shares. Other stocks I like now are T, LSI, SGI, EXBT, & LU. All are down for me, but not much from my entries, and IMO have good upside potential. Good luck longs!!!!

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    • snugly, although I appreciate your good wishes for longs, I am questioning your analysis of both the market performance today (you said down) and sko being sucked back down to where you want to begin nibbling back in at 7. The market technically (dow) performed excellently yesterday, and will be up today. Sko, has performed solidly, has sss increasing, interest rates coming down, sko is going to make a profit in a difficult year, and over 92+% of all shares are owned by institutions. Review of the charts will also show a strong upward trend, which will be volitile due too small float. So, help me to understand how we could see 7's?

 

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