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Best Buy Co., Inc. Message Board

  • perrdb perrdb Dec 18, 2009 10:01 AM Flag

    What's going on??

    Anybody knows?

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    • Looks to me like it's headed to $40 by end of day, but I expect to see $39 Monday and then down to the 250dma.

      I'm a buyer @ $38.12 or so...

    • I think this is a problem of that fbr analyst putting a price target of 36. I don't understand their reasoning, since they put market perform... of course that means that they feel the whole market is going to go down at least 10% if he believes it would perform as the market does.

      I should have looked for a reason why it had high volume, but I bought right after open some jan calls. Which I'm getting my ass handed to me. I did have some puts before earnings, and thought it was taken down way too low, but this seems a little bit underhanded the 36 price target. I was hoping for a dead cat bounce... back into the 42 range... In anycase it's hard to see why 4M shares have been traded already, when there is an average of only 8M, I can't imagine that quad witching is causing this kind of volume unless there is some news. It's only about 1 1/2 hrs of trading.. that would put us close to double the normal volume for the past 3 months.

      Hopefully it will close somewhere around flat to down 0.5%... and monday it will recover slightly on monday with decent sales over the weekend.

    • Quadruple witching hour approaching.


    • Has to be a reaction to the impending snow storm in the eastern corridor on saturday, a huge loss of business on the busiest day of the shopping year. Just my opinion, back in at $38.50

    • This is all about options and screwing the longs. Relax it will be over soon. Buy some more if you have the guts.

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